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What Awaits NextEra Energy Partners (NEP) in Q2 Earnings?
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NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release second-quarter 2021 earnings on Jul 23, before market open. The partnership delivered an earnings surprise of 582.1% in the last reported quarter.
Let’s focus on the factors that might have impacted the firm’s earnings in the June quarter.
Factors to Consider
NextEra Energy Partners’ efforts to execute long-term strategic objectives and focus on the United States are expected to have boosted its second-quarter performance. The firm is likely to have gained from contribution from the assets acquired in 2020.
The company is expected to have continuously enjoyed the benefits of lower financing cost in second quarter due to conversion of debts to equity in 2020. The firm is also expected to have benefited from the high-quality clean energy portfolio developed through organic initiatives and acquisitions.
Expectation
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at 67 cents per unit and $328.01 million, respectively. The projected revenues indicate a rise of 29.7%, while earnings per suggest a decline of 2.9% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy Partners this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is 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: It has an Earnings ESP of +8.63%. 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 sports a Zacks Rank #1.
Stocks to Consider
You can also consider some other stocks from the industry that have the right combination of elements to deliver an earnings beat this season.
Ameresco, Inc. (AMRC - Free Report) is set to release second-quarter 2021 results on Aug 2. It has an Earnings ESP of +9.62% and a Zacks Rank of 3.
Clearway Energy, Inc. (CWEN - Free Report) is set to release second-quarter 2021 results on Aug 3. It has an Earnings ESP of +12.24% and a Zacks Rank of 3.
Ormat Technologies Inc. (ORA - Free Report) is set to release second-quarter 2021 results on Aug 4. It has an Earnings ESP of +1.64% and a Zacks Rank of 3.
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What Awaits NextEra Energy Partners (NEP) in Q2 Earnings?
NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release second-quarter 2021 earnings on Jul 23, before market open. The partnership delivered an earnings surprise of 582.1% in the last reported quarter.
Let’s focus on the factors that might have impacted the firm’s earnings in the June quarter.
Factors to Consider
NextEra Energy Partners’ efforts to execute long-term strategic objectives and focus on the United States are expected to have boosted its second-quarter performance. The firm is likely to have gained from contribution from the assets acquired in 2020.
The company is expected to have continuously enjoyed the benefits of lower financing cost in second quarter due to conversion of debts to equity in 2020. The firm is also expected to have benefited from the high-quality clean energy portfolio developed through organic initiatives and acquisitions.
Expectation
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at 67 cents per unit and $328.01 million, respectively. The projected revenues indicate a rise of 29.7%, while earnings per suggest a decline of 2.9% from the year-ago reported number.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy Partners this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is 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: It has an Earnings ESP of +8.63%. 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 sports a Zacks Rank #1.
Stocks to Consider
You can also consider some other stocks from the industry that have the right combination of elements to deliver an earnings beat this season.
Ameresco, Inc. (AMRC - Free Report) is set to release second-quarter 2021 results on Aug 2. It has an Earnings ESP of +9.62% and a Zacks Rank of 3.
Clearway Energy, Inc. (CWEN - Free Report) is set to release second-quarter 2021 results on Aug 3. It has an Earnings ESP of +12.24% and a Zacks Rank of 3.
Ormat Technologies Inc. (ORA - Free Report) is set to release second-quarter 2021 results on Aug 4. It has an Earnings ESP of +1.64% and a Zacks Rank of 3.