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FirstEnergy (FE) to Post Q2 Earnings: What's in the Offing?
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FirstEnergy Corporation (FE - Free Report) is slated to release second-quarter 2021 results on Jul 22. The company delivered an earnings surprise of 1.5% in the last reported quarter.
Let’s focus on the factors that might have impacted its June-quarter performance.
Factors to Consider
FirstEnergy’s second-quarter results are expected to be adversely impacted by the absence of Ohio decoupling revenues, and the company’s decision to forego lost distribution revenues from residential and commercial customers.
It is likely to have gained from strong residential demand, and improving demand from industrial and commercial customer groups. Cost-management initiatives are also expected to have boosted margins.
Expectations
The company expects second-quarter 2021 earnings in the range of 48-58 cents per share. The Zacks Consensus Estimate for the same is pegged at 61 cents, which indicates a 7.02% rise from the year-ago reported figure.
The Zacks Consensus Estimate for first-quarter sales stands at $2.7 billion, suggesting growth of 7.2% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FirstEnergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company has an Earnings ESP of -4.53%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
American Electric Power Company (AEP - Free Report) is set to release second-quarter 2021 results on Jul 22. It has an Earnings ESP of +1.33% and a Zacks Rank #3.
NextEra Energy Inc. (NEE - Free Report) is set to release second-quarter 2021 results on Jul 23. It has an Earnings ESP of +0.72% and has a Zacks Rank of 3.
NorthWestern Corporation (NWE - Free Report) is set to release second-quarter 2021 results on Jul 27. It has an Earnings ESP of +2.27% and a Zacks Rank of 3.
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FirstEnergy (FE) to Post Q2 Earnings: What's in the Offing?
FirstEnergy Corporation (FE - Free Report) is slated to release second-quarter 2021 results on Jul 22. The company delivered an earnings surprise of 1.5% in the last reported quarter.
Let’s focus on the factors that might have impacted its June-quarter performance.
Factors to Consider
FirstEnergy’s second-quarter results are expected to be adversely impacted by the absence of Ohio decoupling revenues, and the company’s decision to forego lost distribution revenues from residential and commercial customers.
It is likely to have gained from strong residential demand, and improving demand from industrial and commercial customer groups. Cost-management initiatives are also expected to have boosted margins.
Expectations
The company expects second-quarter 2021 earnings in the range of 48-58 cents per share. The Zacks Consensus Estimate for the same is pegged at 61 cents, which indicates a 7.02% rise from the year-ago reported figure.
The Zacks Consensus Estimate for first-quarter sales stands at $2.7 billion, suggesting growth of 7.2% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FirstEnergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote
Earnings ESP: The company has an Earnings ESP of -4.53%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
American Electric Power Company (AEP - Free Report) is set to release second-quarter 2021 results on Jul 22. It has an Earnings ESP of +1.33% and a Zacks Rank #3.
NextEra Energy Inc. (NEE - Free Report) is set to release second-quarter 2021 results on Jul 23. It has an Earnings ESP of +0.72% and has a Zacks Rank of 3.
NorthWestern Corporation (NWE - Free Report) is set to release second-quarter 2021 results on Jul 27. It has an Earnings ESP of +2.27% and a Zacks Rank of 3.