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What to Expect for NextEra Energy Partners (NEP) Q3 Earnings
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NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release third-quarter 2020 earnings on Oct 21, before market open. The partnership witnessed an earnings surprise of 38% in the last reported quarter.
Let’s focus on the factors that might have impacted the firm’s earnings in the September quarter.
Factors to Consider
NextEra Energy Partners’ efforts to execute its long-term strategic objectives and its focus on the United States are expected to have boosted its performance in the third quarter. Acquisition of 611 MW of renewable assets from NextEra Energy Resources in the second quarter is expected to have further strengthened its clean power generation capability in the third quarter.
Though pandemic-related restrictions began easing, the unprecedented economic crisis and the shutdown of business activities for the majority of the third quarter might adversely impact the firm’s upcoming results.
Which Way Are Estimates Trending?
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 62 cents per unit and $361.51 million, respectively. The top- and the bottom-line figures indicate a respective rise of 151.24% and 42.89% from the year-ago quarter’s reported numbers.
What Our Quantitative Model Predicts
Our proven model doesn’t predict an earnings beat for NextEra Energy Partners this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
NextEra Energy Partners, LP Price and EPS Surprise
Earnings ESP: NextEra Energy Partners has an Earnings ESP of -1.08%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy Partners carries a Zacks Rank #3.
Stocks to Consider
Here are some companies worth considering from the sector as our model shows that these have the right combination of elements to beat on earnings this season.
Baker Hughes Company (BKR - Free Report) has an Earnings ESP of +16.67% and a Zacks Rank of 3, currently. The company is expected to report third-quarter 2020 results on Oct 21.
Linde plc (LIN - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank of 2 at present. The company is expected to release third-quarter 2020 results on Nov 5.
Solaris Oilfield Infrastructure, Inc. (SOI - Free Report) has an Earnings ESP of +11.35% and a Zacks Rank #2, currently. The company is expected to release third-quarter 2020 results on Oct 29.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Image: Bigstock
What to Expect for NextEra Energy Partners (NEP) Q3 Earnings
NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release third-quarter 2020 earnings on Oct 21, before market open. The partnership witnessed an earnings surprise of 38% in the last reported quarter.
Let’s focus on the factors that might have impacted the firm’s earnings in the September quarter.
Factors to Consider
NextEra Energy Partners’ efforts to execute its long-term strategic objectives and its focus on the United States are expected to have boosted its performance in the third quarter. Acquisition of 611 MW of renewable assets from NextEra Energy Resources in the second quarter is expected to have further strengthened its clean power generation capability in the third quarter.
Though pandemic-related restrictions began easing, the unprecedented economic crisis and the shutdown of business activities for the majority of the third quarter might adversely impact the firm’s upcoming results.
Which Way Are Estimates Trending?
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 62 cents per unit and $361.51 million, respectively. The top- and the bottom-line figures indicate a respective rise of 151.24% and 42.89% from the year-ago quarter’s reported numbers.
What Our Quantitative Model Predicts
Our proven model doesn’t predict an earnings beat for NextEra Energy Partners this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote
Earnings ESP: NextEra Energy Partners has an Earnings ESP of -1.08%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy Partners carries a Zacks Rank #3.
Stocks to Consider
Here are some companies worth considering from the sector as our model shows that these have the right combination of elements to beat on earnings this season.
Baker Hughes Company (BKR - Free Report) has an Earnings ESP of +16.67% and a Zacks Rank of 3, currently. The company is expected to report third-quarter 2020 results on Oct 21.
Linde plc (LIN - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank of 2 at present. The company is expected to release third-quarter 2020 results on Nov 5.
Solaris Oilfield Infrastructure, Inc. (SOI - Free Report) has an Earnings ESP of +11.35% and a Zacks Rank #2, currently. The company is expected to release third-quarter 2020 results on Oct 29.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Click Here, See It Free >>