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FirstEnergy (FE) to Report Q2 Earnings: What's in the Cards?
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FirstEnergy Corporation (FE - Free Report) is slated to release second-quarter 2022 results on Jul 27 after market close. The firm delivered a negative earnings surprise of 3.2% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
FirstEnergy’s second-quarter earnings are likely to have benefited from ongoing cost management initiatives, which, in turn, are expected to have reduced operating and maintenance expenses. The higher demand from the residential, commercial and industrial groups is expected to have boosted second-quarter earnings.
Also, FE’s second-quarter earnings are likely to have benefited from the company’s ongoing transformational activities and customer-focused initiatives.
Expectations
FirstEnergy expects second-quarter earnings in the range of 46-56 cents per share. The Zacks Consensus Estimate for second-quarter earnings is pegged at 52 cents per share, which indicates a decline of 11.9% from the year-ago reported figure.
The Zacks Consensus Estimate for second-quarter sales stands at $2.78 billion, suggesting growth of 6% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FE this time. 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, which is not the case here as you will see below.
Earnings ESP: FirstEnergy has an Earnings ESP of +0.96%. 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 #4 (Sell).
Investors can consider the following players from the same industry who have the right combination of elements to beat earnings this reporting cycle.
NextEra Energy (NEE - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 22 before market open. NextEra Energy has an Earnings ESP of +2.70% and carries a Zacks Rank #2 at present. NEE’s long-term (three to five years) earnings growth is projected at 9.3%.
American Electric Power (AEP - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 before market open. American Electric Power has an Earnings ESP of +6.77% and carries a Zacks Rank #3 at present. AEP’s long-term earnings growth is projected at 6.2%.
AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 5 before market open. AES Corporation has an Earnings ESP of +7.32% and carries a Zacks Rank #3 at present. AES’ long-term earnings growth is projected at 7.5%.
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FirstEnergy (FE) to Report Q2 Earnings: What's in the Cards?
FirstEnergy Corporation (FE - Free Report) is slated to release second-quarter 2022 results on Jul 27 after market close. The firm delivered a negative earnings surprise of 3.2% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
FirstEnergy’s second-quarter earnings are likely to have benefited from ongoing cost management initiatives, which, in turn, are expected to have reduced operating and maintenance expenses. The higher demand from the residential, commercial and industrial groups is expected to have boosted second-quarter earnings.
Also, FE’s second-quarter earnings are likely to have benefited from the company’s ongoing transformational activities and customer-focused initiatives.
Expectations
FirstEnergy expects second-quarter earnings in the range of 46-56 cents per share. The Zacks Consensus Estimate for second-quarter earnings is pegged at 52 cents per share, which indicates a decline of 11.9% from the year-ago reported figure.
The Zacks Consensus Estimate for second-quarter sales stands at $2.78 billion, suggesting growth of 6% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FE this time. 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, which is not the case here as you will see below.
FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote
Earnings ESP: FirstEnergy has an Earnings ESP of +0.96%. 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 #4 (Sell).
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 same industry who have the right combination of elements to beat earnings this reporting cycle.
NextEra Energy (NEE - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 22 before market open. NextEra Energy has an Earnings ESP of +2.70% and carries a Zacks Rank #2 at present. NEE’s long-term (three to five years) earnings growth is projected at 9.3%.
American Electric Power (AEP - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Jul 27 before market open. American Electric Power has an Earnings ESP of +6.77% and carries a Zacks Rank #3 at present. AEP’s long-term earnings growth is projected at 6.2%.
AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 5 before market open. AES Corporation has an Earnings ESP of +7.32% and carries a Zacks Rank #3 at present. AES’ long-term earnings growth is projected at 7.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.