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Evergy (EVRG) to Report Q3 Earnings: What's in the Offing?

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Evergy, Inc. (EVRG - Free Report) is set to release third-quarter 2020 results on Nov 5, before the market opens. In the last reported quarter, the company delivered a negative earnings surprise of 2.9%.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Consider

Evergy’s cost-management initiatives and lower average outstanding shares are likely to have positively impacted third-quarter earnings. With the gradual reopening of the economy, demand from commercial and industrial (C&I) customers might have improved from the lows touched in the previous quarter. Steady demand from residential customers is likely to have offset some of demand decline from the C&I group in the third quarter.

Expectation

The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.65, indicating growth of 5.1% from the year-ago reported figure.

Evergy Inc. Price and EPS Surprise

Evergy Inc. Price and EPS Surprise

Evergy Inc. price-eps-surprise | Evergy Inc. Quote

What Our Quantitative Model Indicates

Our proven model does not conclusively predict an earnings beat for Evergy 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. That is not the case here as you will see below.

Earnings ESP: Its Earnings ESP is 0.00%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Evergy currently holds a Zacks Rank #3.

Stocks to Consider

Here are some players from the same sector that are worth considering, as these have the right combination of elements to deliver an earnings beat in the upcoming releases.

DCP Midstream LP (DCP - Free Report) is set to release third-quarter results on Nov 4. It has an Earnings ESP of +4.77% and sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Marathon Oil Corporation (MRO - Free Report) is set to release second-quarter results on Nov 4. It has an Earnings ESP of +1.50% and a Zacks Rank of 3.

Cheniere Energy, Inc. (LNG - Free Report) is set to release third-quarter results on Nov 6. It has an Earnings ESP of +31.36% and a Zacks Rank of 3.

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