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Eversource Energy (ES) to Report Q1 Earnings: What to Expect

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Eversource Energy (ES - Free Report) is slated to release first-quarter 2021 financial results on May 10. The utility came up with break-even earnings in the last reported quarter.

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

Factors to Consider

Eversource Energy’s first-quarter earnings are likely to have benefited from the inclusion of Eversource Gas Company of Massachusetts in the natural gas segment.

Quarterly earnings must have got a boost from the new rates that became effective during fourth-quarter 2020 and first-quarter 2021. Cost-management initiatives undertaken by the company are likely to have boosted margins during the to-be reported quarter.

However, during the quarter, major storms in its service territories caused power outages. Utility workers did their best to restore power to majority of customers. Higher operational expenditure and loss of revenues during the power outages might have impacted its performance in the to-be-reported quarter.

Expectation

The Zacks Consensus Estimate for first-quarter revenues and earnings per share is pegged at $2.64 billion and $1.10, indicating 11.3% and 7.8% growth, respectively, from the year-ago reported figures.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Eversource 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.

Eversource Energy Price and EPS Surprise

Eversource Energy Price and EPS Surprise

Eversource Energy price-eps-surprise | Eversource Energy Quote

Earnings ESP: Its Earnings ESP is +0.99%.

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

Zacks Rank: Eversource currently carries a Zacks Rank #4 (Sell).

Stocks to Consider

Investors can consider the following players from the energy space that have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Duke Energy Corporation (DUK - Free Report) is likely to release first-quarter 2021 results on May 10. It has an Earnings ESP of +0.16% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Western Midstream Partners (WES - Free Report) is likely to release first-quarter 2021 results on May 10. It has an Earnings ESP of +5.25% and a Zacks Rank #3.

Chesapeake Energy Corporation (CHK - Free Report) is likely to release first-quarter 2021 results on May 11. It has an Earnings ESP of +110.96% and a Zacks Rank #3.

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