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Eversource Energy (ES) to Post Q2 Earnings: What's in Store?
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Eversource Energy (ES - Free Report) is scheduled to release second-quarter 2023 results on Jul 31, after market close. The company delivered an earnings surprise of 3.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Eversource Energy’s second-quarter earnings are expected to have benefited from increased transmission capital investments and lower storm costs. Controlled operation and maintenance expenses are likely to have a positive impact on the company’s quarterly performance.
However, higher interest expense is likely to have adversely impacted the company's performance in the to-be-reported quarter. ES' second-quarter earnings are also expected to have been impacted by a non-recurring after-tax impairment charge that's estimated to be in the range of $220-$280 million.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 91 cents per share, indicating a year-over-year increase of 5.8%.
The consensus mark for revenues is pinned at $2.84 billion, implying a year-over-year improvement of 10.3%.
What Our Quantitative Model Predicts
Our proven model conclusively predicts an earnings beat for Eversource 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: The company’s Earnings ESP is +1.55%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few other players from the same industry that too have the right combination of elements to come up with an earnings beat this reporting cycle.
Public Service Enterprise Group Inc. (PEG - Free Report) is expected to come up with an earnings beat when it reports second-quarter results on Aug 1, before market open. It has an Earnings ESP of +1.94% and a Zacks Rank #2 at present.
PEG’s long-term (three to five years) earnings growth rate is 4.85%. It delivered an average earnings surprise of 4.33% in the last four quarters.
Ameren Corporation (AEE - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 2, after market close. It has an Earnings ESP of +2.05% and a Zacks Rank #3 at present.
AEE’s long-term earnings growth rate is 6.43%. It delivered an average earnings surprise of 4.7% in the last four quarters.
Consolidated Edison (ED - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 3, after market close. It has an Earnings ESP of +1.4% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. It delivered an average earnings surprise of 9.5% in the last four quarters.
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Eversource Energy (ES) to Post Q2 Earnings: What's in Store?
Eversource Energy (ES - Free Report) is scheduled to release second-quarter 2023 results on Jul 31, after market close. The company delivered an earnings surprise of 3.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Eversource Energy’s second-quarter earnings are expected to have benefited from increased transmission capital investments and lower storm costs. Controlled operation and maintenance expenses are likely to have a positive impact on the company’s quarterly performance.
However, higher interest expense is likely to have adversely impacted the company's performance in the to-be-reported quarter. ES' second-quarter earnings are also expected to have been impacted by a non-recurring after-tax impairment charge that's estimated to be in the range of $220-$280 million.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 91 cents per share, indicating a year-over-year increase of 5.8%.
The consensus mark for revenues is pinned at $2.84 billion, implying a year-over-year improvement of 10.3%.
What Our Quantitative Model Predicts
Our proven model conclusively predicts an earnings beat for Eversource 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.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Earnings ESP: The company’s Earnings ESP is +1.55%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Eversource Energy 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 industry that too have the right combination of elements to come up with an earnings beat this reporting cycle.
Public Service Enterprise Group Inc. (PEG - Free Report) is expected to come up with an earnings beat when it reports second-quarter results on Aug 1, before market open. It has an Earnings ESP of +1.94% and a Zacks Rank #2 at present.
PEG’s long-term (three to five years) earnings growth rate is 4.85%. It delivered an average earnings surprise of 4.33% in the last four quarters.
Ameren Corporation (AEE - Free Report) is likely to report an earnings beat when it announces second-quarter results on Aug 2, after market close. It has an Earnings ESP of +2.05% and a Zacks Rank #3 at present.
AEE’s long-term earnings growth rate is 6.43%. It delivered an average earnings surprise of 4.7% in the last four quarters.
Consolidated Edison (ED - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 3, after market close. It has an Earnings ESP of +1.4% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. It delivered an average earnings surprise of 9.5% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.