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What to Expect From Clearway Energy's (CWEN) Q1 Earnings?
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Clearway Energy (CWEN - Free Report) is scheduled to release first-quarter 2023 financial results on May 4, before market open. Clearway Energy delivered an earnings surprise of 111.4% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Clearway Energy has fully contracted capacity of El Segundo, Marsh Landing and Walnut Creek, which is likely to have boosted first-quarter earnings. First-quarter earnings are also likely to have gained from lower operational expenses.
However, due to seasonality’s impact, Clearway Energy’s first-quarter earnings might have been lower than other quarters of the year.
Expectations
The Zacks Consensus Estimate for the first-quarter earnings is pegged at $1.84 per share, indicating a year-over-year decline of 111.5%.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $5.13 billion, implying a year-over-year decrease of 5.81%.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Clearway Energy 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, which is the case here as you will see below.
Earnings ESP: Clearway Energy has an Earnings ESP of +2.04%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Clearway Energy is having a Zacks Rank #3.
Other Stocks to Consider
Investors can consider the following operators from the same sector that have the right combination of elements to post an earnings beat this time around.
Sunoco LP (SUN - Free Report) is likely to come up with an earnings beat when it reports first-quarter 2023 results on May 2. SUN has an Earnings ESP of +5.66% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for 2023 earnings of Sunoco is $4.37 per unit, which indicates an increase of 1.4% in the past sixty days.
ONEOK Inc. (OKE - Free Report) is likely to come up with an earnings beat when it reports its first-quarter results on May 2, after market close. It has an Earnings ESP of +9.04 and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
OKE’s long-term (three- to five-year) earnings growth is pegged at 7.6%. The Zacks Consensus Estimate for 2023 earnings per share is $4.96, implying a year-over-year increase of 29.17%.
FTC Solar Inc. (FTCI - Free Report) is likely to come up with an earnings beat when it reports its first-quarter 2023 results on May 10. FTCI has an Earnings ESP of +36.84% and a Zacks Rank #2.
The company reported a positive earnings surprise of 8.33% in the last reported quarter. The Zacks Consensus Estimate for 2023 sales of FTC Solar is $270.5 million, which reflects a year-over-year growth of 119.83%.
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What to Expect From Clearway Energy's (CWEN) Q1 Earnings?
Clearway Energy (CWEN - Free Report) is scheduled to release first-quarter 2023 financial results on May 4, before market open. Clearway Energy delivered an earnings surprise of 111.4% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Clearway Energy has fully contracted capacity of El Segundo, Marsh Landing and Walnut Creek, which is likely to have boosted first-quarter earnings. First-quarter earnings are also likely to have gained from lower operational expenses.
However, due to seasonality’s impact, Clearway Energy’s first-quarter earnings might have been lower than other quarters of the year.
Expectations
The Zacks Consensus Estimate for the first-quarter earnings is pegged at $1.84 per share, indicating a year-over-year decline of 111.5%.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $5.13 billion, implying a year-over-year decrease of 5.81%.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Clearway Energy 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, which is the case here as you will see below.
Clearway Energy, Inc. Price and EPS Surprise
Clearway Energy, Inc. price-eps-surprise | Clearway Energy, Inc. Quote
Earnings ESP: Clearway Energy has an Earnings ESP of +2.04%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Clearway Energy is having a Zacks Rank #3.
Other Stocks to Consider
Investors can consider the following operators from the same sector that have the right combination of elements to post an earnings beat this time around.
Sunoco LP (SUN - Free Report) is likely to come up with an earnings beat when it reports first-quarter 2023 results on May 2. SUN has an Earnings ESP of +5.66% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for 2023 earnings of Sunoco is $4.37 per unit, which indicates an increase of 1.4% in the past sixty days.
ONEOK Inc. (OKE - Free Report) is likely to come up with an earnings beat when it reports its first-quarter results on May 2, after market close. It has an Earnings ESP of +9.04 and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
OKE’s long-term (three- to five-year) earnings growth is pegged at 7.6%. The Zacks Consensus Estimate for 2023 earnings per share is $4.96, implying a year-over-year increase of 29.17%.
FTC Solar Inc. (FTCI - Free Report) is likely to come up with an earnings beat when it reports its first-quarter 2023 results on May 10. FTCI has an Earnings ESP of +36.84% and a Zacks Rank #2.
The company reported a positive earnings surprise of 8.33% in the last reported quarter. The Zacks Consensus Estimate for 2023 sales of FTC Solar is $270.5 million, which reflects a year-over-year growth of 119.83%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.