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Constellation (CEG) to Report Q4 Earnings: What's in Store?
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Constellation Energy Corporation (CEG - Free Report) is slated to report its fourth-quarter and full-year 2022 results on Feb 16 before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 175%. In the trailing four quarters, the company delivered a negative average earnings surprise of 127.47%.
Factors to Note
The strong volumes of electricity and gas delivered to customers are likely to have benefited the commercial business. This may have boosted the overall top line of Constellation in the fourth quarter of 2022.
Also, favorable results from its nuclear fleet, with the company owning nearly 25% of the U.S. nuclear fleet producing the most carbon-free energy in the country, must have contributed to CEG’s fourth-quarter results. The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $5.65 billion.
From the cost perspective, increased replacement power costs might have dented the bottom line of the company in the soon-to-be-reported quarter. However, the favorable revenue performance might have aided overall fourth-quarter earnings. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 47 cents per share.
Constellation Energy Corporation Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Constellation 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 not the case here.
Earnings ESP: CEG’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three alternative-energy stocks you may want to consider as these have the right combination of elements to post an earnings beat this season:
Clearway Energy, Inc. (CWEN - Free Report) has an Earnings ESP of +77.19% and a Zacks Rank #1. The Zacks Consensus Estimate for its fourth-quarter sales is pegged at $313.2 million.
CWEN delivered an earnings surprise of 115.4% in the last reported quarter. The long-term earnings growth rate of Clearway is pegged at 10%.
HF Sinclair Corporation (DINO - Free Report) has an Earnings ESP of +1.21% and a Zacks Rank #3. The Zacks Consensus Estimate for its fourth-quarter earnings, pegged at $3.59 per share, suggests whopping growth of 3363.6% from the prior-year quarter’s tally.
The Zacks Consensus Estimate for DINO’s fourth-quarter sales implies a growth rate of 35.6% from the prior-year quarter figure. HF Sinclair has a four-quarter earnings surprise of 695.8%.
Enovix Corporation (ENVX - Free Report) has an Earnings ESP of +7.90% and a Zacks Rank #3. The Zacks Consensus Estimate for its fourth-quarter sales is pegged at $0.91 million.
ENVX delivered an earnings surprise of 6.25% in the last reported quarter. It has a four-quarter earnings surprise of negative 62.5%.
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Constellation (CEG) to Report Q4 Earnings: What's in Store?
Constellation Energy Corporation (CEG - Free Report) is slated to report its fourth-quarter and full-year 2022 results on Feb 16 before the opening bell.
In the last reported quarter, the company delivered a negative earnings surprise of 175%. In the trailing four quarters, the company delivered a negative average earnings surprise of 127.47%.
Factors to Note
The strong volumes of electricity and gas delivered to customers are likely to have benefited the commercial business. This may have boosted the overall top line of Constellation in the fourth quarter of 2022.
Also, favorable results from its nuclear fleet, with the company owning nearly 25% of the U.S. nuclear fleet producing the most carbon-free energy in the country, must have contributed to CEG’s fourth-quarter results. The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $5.65 billion.
From the cost perspective, increased replacement power costs might have dented the bottom line of the company in the soon-to-be-reported quarter. However, the favorable revenue performance might have aided overall fourth-quarter earnings. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 47 cents per share.
Constellation Energy Corporation Price and EPS Surprise
Constellation Energy Corporation price-eps-surprise | Constellation Energy Corporation Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Constellation 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 not the case here.
Earnings ESP: CEG’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Constellation carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three alternative-energy stocks you may want to consider as these have the right combination of elements to post an earnings beat this season:
Clearway Energy, Inc. (CWEN - Free Report) has an Earnings ESP of +77.19% and a Zacks Rank #1. The Zacks Consensus Estimate for its fourth-quarter sales is pegged at $313.2 million.
CWEN delivered an earnings surprise of 115.4% in the last reported quarter. The long-term earnings growth rate of Clearway is pegged at 10%.
HF Sinclair Corporation (DINO - Free Report) has an Earnings ESP of +1.21% and a Zacks Rank #3. The Zacks Consensus Estimate for its fourth-quarter earnings, pegged at $3.59 per share, suggests whopping growth of 3363.6% from the prior-year quarter’s tally.
The Zacks Consensus Estimate for DINO’s fourth-quarter sales implies a growth rate of 35.6% from the prior-year quarter figure. HF Sinclair has a four-quarter earnings surprise of 695.8%.
Enovix Corporation (ENVX - Free Report) has an Earnings ESP of +7.90% and a Zacks Rank #3. The Zacks Consensus Estimate for its fourth-quarter sales is pegged at $0.91 million.
ENVX delivered an earnings surprise of 6.25% in the last reported quarter. It has a four-quarter earnings surprise of negative 62.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.