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What's in Store for NextEra Energy Partners (NEP) in Q1 Earnings?
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NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release first-quarter 2023 financial results on Apr 25, before market open. The firm delivered a negative earnings surprise of 23.08% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
NEP has included more renewable energy sources in its generation portfolio, which is expected to have boosted its first-quarter earnings.
The company continues to enjoy structural tax advantages and is not likely to pay meaningful U.S. taxes for at least 15 years. This must have also bolstered its first-quarter earnings.
Expectations
The Zacks Consensus Estimate for NextEra Energy Partners’ earnings is pegged at 46 cents per unit, implying a year-over-year decrease of 73.3%.
The same for revenues is pegged at $415.85 million, indicating a 48% increase year over year.
The Zacks model predicts renewable energy sales to contribute 82.4% to the company’s total revenues compared with 79.7% in the year-ago quarter.
Quantitative Model Predicts
Our proven model predicts 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.
NextEra Energy Partners, LP Price and EPS Surprise
Here are a few other players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
Chevron (CVX - Free Report) is expected to report an earnings beat when it announces first-quarter results on Apr 28, before market open. It has an Earnings ESP of +0.15% and a Zacks Rank #3 at present.
CVX’s long-term (three to five years) earnings growth is pegged at 14.27%. It delivered an average earnings surprise of 5.67% in the last four quarters.
Marathon Petroleum (MPC - Free Report) is likely to report an earnings beat when it announces first-quarter results on May 2, before market open. It has an Earnings ESP of +11.24% and a Zacks Rank #1 at present.
MPC’s long-term earnings growth is pegged at 6%. It delivered an average earnings surprise of 20.91% in the last four quarters.
Clearway Energy Inc. (CWEN - Free Report) is expected to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +2.04% and a Zacks Rank #1 at present.
CWEN’s long-term earnings growth is pegged at 10%. The Zacks Consensus Estimate for the company’s 2023 earnings is pegged at $1.84 per share, implying a year-over-year increase of 149.3%.
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What's in Store for NextEra Energy Partners (NEP) in Q1 Earnings?
NextEra Energy Partners, LP (NEP - Free Report) is scheduled to release first-quarter 2023 financial results on Apr 25, before market open. The firm delivered a negative earnings surprise of 23.08% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
NEP has included more renewable energy sources in its generation portfolio, which is expected to have boosted its first-quarter earnings.
The company continues to enjoy structural tax advantages and is not likely to pay meaningful U.S. taxes for at least 15 years. This must have also bolstered its first-quarter earnings.
Expectations
The Zacks Consensus Estimate for NextEra Energy Partners’ earnings is pegged at 46 cents per unit, implying a year-over-year decrease of 73.3%.
The same for revenues is pegged at $415.85 million, indicating a 48% increase year over year.
The Zacks model predicts renewable energy sales to contribute 82.4% to the company’s total revenues compared with 79.7% in the year-ago quarter.
Quantitative Model Predicts
Our proven model predicts 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.
NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote
Earnings ESP: NEP’s Earnings ESP is +28.96%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, the company carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are a few other players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
Chevron (CVX - Free Report) is expected to report an earnings beat when it announces first-quarter results on Apr 28, before market open. It has an Earnings ESP of +0.15% and a Zacks Rank #3 at present.
CVX’s long-term (three to five years) earnings growth is pegged at 14.27%. It delivered an average earnings surprise of 5.67% in the last four quarters.
Marathon Petroleum (MPC - Free Report) is likely to report an earnings beat when it announces first-quarter results on May 2, before market open. It has an Earnings ESP of +11.24% and a Zacks Rank #1 at present.
MPC’s long-term earnings growth is pegged at 6%. It delivered an average earnings surprise of 20.91% in the last four quarters.
Clearway Energy Inc. (CWEN - Free Report) is expected to come up with an earnings beat when it reports first-quarter results on May 4, before market open. It has an Earnings ESP of +2.04% and a Zacks Rank #1 at present.
CWEN’s long-term earnings growth is pegged at 10%. The Zacks Consensus Estimate for the company’s 2023 earnings is pegged at $1.84 per share, implying a year-over-year increase of 149.3%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.