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Eversource (ES) to Report Q3 Earnings: What's in the Offing?
Eversource Energy (ES - Free Report) is scheduled to release third-quarter 2022 earnings on Nov 3, before market open. Eversource Energy delivered an earnings surprise of 2.4% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
Eversource Energy’s third-quarter earnings are likely to have benefited from organic growth and systematic investment in its transmission and distribution facilities, resulting in a higher contribution.
Third-quarter earnings are likely to have gained from the complete integration of Massachusetts natural gas assets of Columbia Gas in its system. The new equity issuance might have a dilutive impact on third-quarter earnings.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.03 per share, indicating a nearly 1% rise from the year-ago reported figure.
The Zacks Consensus Estimate for third-quarter sales is pegged at $2.72 billion, indicating a nearly 10.4% rise from the year-ago reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Eversource this time. 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. However, that is not the case here as you will see below.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Earnings ESP: Eversource has an Earnings ESP of -0.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ES 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 players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Pinnacle West Capital Corporation (PNW - Free Report) is likely to come up with an earnings beat in its third-quarter results on Nov 3. PNW has an Earnings ESP of +1.65% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for PNW’s 2023 EPS indicates 5.2% year-over-year growth.
Ameren Corporation (AEE - Free Report) is likely to come up with an earnings beat in its third-quarter results on Nov 3. AEE has an Earnings ESP of +1.41% and a Zacks Rank #3 at present.
Ameren’s long-term (three to five-year) earnings growth is currently pegged at 7.2%. The Zacks Consensus Estimate for AEE’s 2022 and 2023 EPS indicates 6.2% and 7% year-over-year growth, respectively.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat in its third-quarter results on Nov 3. AES has an Earnings ESP of +3.42% and a Zacks Rank #3 at present.
AES Corp.’s long-term earnings growth is currently pegged at 8.2%. The Zacks Consensus Estimate for AES’ 2022 and 2023 EPS indicates 5.9% and 10% year-over-year growth, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.