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Eversource (ES) to Report Q3 Earnings: What's in the Offing?
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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.
Expectation
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.
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.
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.
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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.
Expectation
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.