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Eversource Energy (ES) to Post Q3 Earnings: What's in the Offing?

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Eversource Energy (ES - Free Report) is slated to release third-quarter 2021 financial results on Nov 3. The utility delivered a negative earnings surprise of 1.3% 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 third-quarter earnings are likely to have benefited from higher contributions from transmission and distribution businesses. A steady vaccination drive and better medical knowledge to cope with the virus have been resulting in the reopening of economic activities and reviving demand.

Cost-management initiatives undertaken by the company are likely to have boosted margins during the to-be-reported quarter.

Expectation

The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $2.57 billion and $1.05, indicating 9.8% and 3.9% 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 Energy 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 0.00%.

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

Zacks Rank: Eversource Energy currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

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

PG&E Corporation (PCG - Free Report) is likely to come up with an earnings beat when it reports third-quarter 2021 results on Nov 1 before the market opens. It has an Earnings ESP of +1.92% and a Zacks Rank of 3, at present.

The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports third-quarter 2021 results on Nov 4 before the market opens. It has an Earnings ESP of +3.53% and a Zacks Rank of 3, at present.

Pinnacle West Capital Corporation (PNW - Free Report) is likely to come up with an earnings beat when it reports third-quarter 2021 results on Nov 5 before the market opens. It has an Earnings ESP of +0.30% and a Zacks Rank of 3, at present.