We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Consolidated Edison (ED) in Q3 Earnings?
Read MoreHide Full Article
Consolidated Edison Inc. (ED - Free Report) is scheduled to release third-quarter 2022 results on Nov 3, after market close.
In the last reported quarter, the company delivered an earnings surprise of 10.34%. However, Consolidated Edison came up with a four-quarter average earnings surprise of 5.65%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
During most of third-quarter 2022, Consolidated Edison’s service territories witnessed warmer-than-normal temperatures accompanied by precipitation. This, in turn, is likely to have boosted electricity demand among the company’s customers, which, in turn is expected to have contributed to the company’s third-quarter revenues.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $3.73 billion, indicating a 3.1% rise from the year-ago quarter’s reported figure.
Favorable rate outcomes, expansion of the clean energy business as well as solid revenue performance must have boosted the company’s bottom line in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for ED’s third-quarter earnings is pegged at $1.47 per share, suggesting a 4.3% increase from the year-ago quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Consolidated Edison 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 the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is +1.15%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three Utilities you may want to consider as these also have the right combination of elements to post an earnings beat this season:
AES Corp (AES - Free Report) has an Earnings ESP of +3.42% and a Zacks Rank #3. The Zacks Consensus Estimate for AES Corp’s third-quarter revenues is pegged at $3.11 billion, suggesting growth of 2.5% from the year-ago quarter.
The Zacks Consensus Estimate for AES’s third-quarter earnings is pegged at 54 cents per share, indicating growth of 8% from the prior-year reported figure.
Ameren (AEE - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3. The Zacks Consensus Estimate for its third-quarter earnings is pegged at $1.72 per share, indicating an improvement of 4.2% from the prior-year reported figure.
Ameren boasts a long-term earnings growth rate of 7.2%. The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, suggesting a 5% increase from the prior-year reported figure.
Pinnacle West Capital (PNW - Free Report) has an Earnings ESP of +1.66% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s reported figure.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s tally.
Image: Bigstock
What's in Store for Consolidated Edison (ED) in Q3 Earnings?
Consolidated Edison Inc. (ED - Free Report) is scheduled to release third-quarter 2022 results on Nov 3, after market close.
In the last reported quarter, the company delivered an earnings surprise of 10.34%. However, Consolidated Edison came up with a four-quarter average earnings surprise of 5.65%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
During most of third-quarter 2022, Consolidated Edison’s service territories witnessed warmer-than-normal temperatures accompanied by precipitation. This, in turn, is likely to have boosted electricity demand among the company’s customers, which, in turn is expected to have contributed to the company’s third-quarter revenues.
Consolidated Edison Inc Price and EPS Surprise
Consolidated Edison Inc price-eps-surprise | Consolidated Edison Inc Quote
The Zacks Consensus Estimate for third-quarter revenues is pegged at $3.73 billion, indicating a 3.1% rise from the year-ago quarter’s reported figure.
Favorable rate outcomes, expansion of the clean energy business as well as solid revenue performance must have boosted the company’s bottom line in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for ED’s third-quarter earnings is pegged at $1.47 per share, suggesting a 4.3% increase from the year-ago quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Consolidated Edison 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 the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is +1.15%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three Utilities you may want to consider as these also have the right combination of elements to post an earnings beat this season:
AES Corp (AES - Free Report) has an Earnings ESP of +3.42% and a Zacks Rank #3. The Zacks Consensus Estimate for AES Corp’s third-quarter revenues is pegged at $3.11 billion, suggesting growth of 2.5% from the year-ago quarter.
The Zacks Consensus Estimate for AES’s third-quarter earnings is pegged at 54 cents per share, indicating growth of 8% from the prior-year reported figure.
Ameren (AEE - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3. The Zacks Consensus Estimate for its third-quarter earnings is pegged at $1.72 per share, indicating an improvement of 4.2% from the prior-year reported figure.
Ameren boasts a long-term earnings growth rate of 7.2%. The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, suggesting a 5% increase from the prior-year reported figure.
Pinnacle West Capital (PNW - Free Report) has an Earnings ESP of +1.66% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s reported figure.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s tally.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar