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NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2022 results on Oct 28, before market open. This utility delivered an earnings surprise of 8% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s third-quarter results will likely reflect the benefits attained from an improvement in Florida’s economic conditions. The expected increase in the Florida Power and Light arm’s customer base in the third quarter is expected to have boosted NextEra Energy’s performance.
The Empire State Transmission line, which was placed in operation during the third quarter, has further expanded NEE’s regulated business and is expected to have boosted quarterly earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 79 cents per share and $6.34 billion, respectively. The earnings per share and revenue estimates indicate year-over-year growth of 5.33% and 45%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy 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.
Earnings ESP: The company’s Earnings ESP is +1.91%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
Edison International (EIX - Free Report) is set to release third-quarter 2022 results on Nov 1. EIX has an Earnings ESP of +0.62% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2022 earnings of EIX is $4.49 per share, which indicates a year-over-year decline of 2.18%.
WEC Energy Group (WEC - Free Report) is set to release third-quarter 2022 results on Nov 1. WEC has an Earnings ESP of +4.11% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of WEC Energy is $4.39 per share, which indicates year-over-year growth of 6.81%.
Pinnacle West Capital Corp. (PNW - Free Report) is set to release third-quarter 2022 results on Nov 3. PNW has an Earnings ESP of +1.65% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of Pinnacle West Capital is $4.01 per share, which indicates a year-over-year decline of 26.69%.
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NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2022 results on Oct 28, before market open. This utility delivered an earnings surprise of 8% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s third-quarter results will likely reflect the benefits attained from an improvement in Florida’s economic conditions. The expected increase in the Florida Power and Light arm’s customer base in the third quarter is expected to have boosted NextEra Energy’s performance.
The Empire State Transmission line, which was placed in operation during the third quarter, has further expanded NEE’s regulated business and is expected to have boosted quarterly earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 79 cents per share and $6.34 billion, respectively. The earnings per share and revenue estimates indicate year-over-year growth of 5.33% and 45%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy 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.
NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is +1.91%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Other 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.
Edison International (EIX - Free Report) is set to release third-quarter 2022 results on Nov 1. EIX has an Earnings ESP of +0.62% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2022 earnings of EIX is $4.49 per share, which indicates a year-over-year decline of 2.18%.
WEC Energy Group (WEC - Free Report) is set to release third-quarter 2022 results on Nov 1. WEC has an Earnings ESP of +4.11% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of WEC Energy is $4.39 per share, which indicates year-over-year growth of 6.81%.
Pinnacle West Capital Corp. (PNW - Free Report) is set to release third-quarter 2022 results on Nov 3. PNW has an Earnings ESP of +1.65% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of Pinnacle West Capital is $4.01 per share, which indicates a year-over-year decline of 26.69%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.