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What Awaits NextEra Energy Partners (NEP) in Q4 Earnings?
NextEra Energy Partners (NEP - Free Report) is scheduled to release its fourth-quarter 2022 financial results on Jan 25, before market open. The company delivered an earnings surprise of 47.62% in the last reported quarter.
Factors to Consider
During the third quarter, NextEra Energy Partners closed the previously announced acquisition of a 67% interest in a 230 MW, 4-hour battery storage project in California, which boosted the firm’s renewable operation and is likely to have contributed to its fourth-quarter earnings.
The firm continues to enjoy structural tax advantages and is not expected to pay meaningful U.S. taxes for at least 15 years, which is expected to have boosted its fourth-quarter earnings.
The Zacks Consensus Estimate for its fourth-quarter earnings is pegged at 52 cents per share, implying a year-over-year increase of 533.33%.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $313.13 million, suggesting a year-over-year increase of 34.97%.
Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy Partners this time around. 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. But that is not the case here as you will see below.
NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote
Earnings ESP: The company’s Earnings ESP is -4.46%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NEP carries a Zacks Rank #2. 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 sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
CNX Resources (CNX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Jan 26, before market open. It has an Earnings ESP of +17.65% and a Zacks Rank #3, at present.
Chevron (CVX - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Jan 27, before market open. It has an Earnings ESP of +1.67% and a Zacks Rank #3, at present.
California Resources (CRC - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter results on Feb 23, after market close. It has an Earnings ESP of +41.04% and a Zacks Rank #3, at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.