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NextEra Energy (NEE) to Report Q1 Earnings: What's in Store?
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its first-quarter 2023 results on Apr 25, before market open. This utility delivered an earnings surprise of 2% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s first-quarter results are likely to reflect the benefits of an improvement in Florida’s economic conditions. The expected increase in the Florida Power and Light customer base in the first quarter is expected to have boosted NextEra Energy’s performance.
NextEra Energy Resources is anticipated to have another strong quarter of renewables, as the introduction of the Inflation Reduction Act has more than offset the inflation observed over the last two years, which is expected to have benefited the company. Strong contributions from Energy Resources are likely to have aided first-quarter earnings.
Expectations
The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at 80 cents per share and $5.89 billion, respectively. Earnings per share and revenue estimates indicate year-over-year growth of 8.1% and 103.9%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is the case here, as you see below.
Earnings ESP: The company’s Earnings ESP is +3.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can also consider the following players from the same industry, that too have the right combination of elements to beat on earnings this reporting cycle.
Xcel Energy (XEL - Free Report) is set to release first-quarter 2023 results on Apr 27. XEL has an Earnings ESP of +1.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of XEL is $3.37 per share, which indicates a year-over-year growth of 6.31%.
Portland General Electric Company (POR - Free Report) is set to release first-quarter 2023 results on Apr 28. POR has an Earnings ESP of +5.33%. The Zacks Consensus Estimate for 2023 earnings of Portland General Electric is $2.64 per share, rising 0.4% in the past 60 days.
Alliant Energy Corporation (LNT - Free Report) is set to release first-quarter 2023 results on May 4. LNT has an Earnings ESP of +2.04% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of Alliant Energy is $2.90 per share, which indicates a year-over-year decline of 3.6%.
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NextEra Energy (NEE) to Report Q1 Earnings: What's in Store?
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its first-quarter 2023 results on Apr 25, before market open. This utility delivered an earnings surprise of 2% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s first-quarter results are likely to reflect the benefits of an improvement in Florida’s economic conditions. The expected increase in the Florida Power and Light customer base in the first quarter is expected to have boosted NextEra Energy’s performance.
NextEra Energy Resources is anticipated to have another strong quarter of renewables, as the introduction of the Inflation Reduction Act has more than offset the inflation observed over the last two years, which is expected to have benefited the company. Strong contributions from Energy Resources are likely to have aided first-quarter earnings.
Expectations
The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at 80 cents per share and $5.89 billion, respectively. Earnings per share and revenue estimates indicate year-over-year growth of 8.1% and 103.9%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is the case here, as you see below.
NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is +3.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can also consider the following players from the same industry, that too have the right combination of elements to beat on earnings this reporting cycle.
Xcel Energy (XEL - Free Report) is set to release first-quarter 2023 results on Apr 27. XEL has an Earnings ESP of +1.50% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of XEL is $3.37 per share, which indicates a year-over-year growth of 6.31%.
Portland General Electric Company (POR - Free Report) is set to release first-quarter 2023 results on Apr 28. POR has an Earnings ESP of +5.33%. The Zacks Consensus Estimate for 2023 earnings of Portland General Electric is $2.64 per share, rising 0.4% in the past 60 days.
POR currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alliant Energy Corporation (LNT - Free Report) is set to release first-quarter 2023 results on May 4. LNT has an Earnings ESP of +2.04% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of Alliant Energy is $2.90 per share, which indicates a year-over-year decline of 3.6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.