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NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2023 results on Oct 24, before market open. The utility delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s third-quarter results are likely to reflect the benefits of well-executed capital plans, enabling the company to serve its expanding customer base and boost its top line.
NextEra Energy’s addition of cost-effective solar plants and improving reliability through investments in its transmission and distribution system are likely to have boosted NEE’s earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 88 cents per share and $7.45 billion, respectively. Revenues and earnings per share estimates indicate year-over-year growth of 10.9% and 3.5%, respectively.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for NextEra 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 not the case here, as elaborated below.
Earnings ESP: The company’s Earnings ESP is -2.27%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
FTS’s long-term (three- to five-year) earnings growth rate is 5.01%. It delivered an average earnings surprise of 4.5% in the last four quarters.
Entergy (ETR - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 1, before market open. It has an Earnings ESP of +1.65% and a Zacks Rank #3 at present.
ETR’s long-term earnings growth rate is 5.83%. It delivered an average earnings surprise of 3.4% in the last four quarters.
Pinnacle West Capital Corp. (PNW - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 2, before market open. It has an Earnings ESP of +0.15% and a Zacks Rank #2 at present.
PNW’s long-term earnings growth rate is 5.55%. The Zacks Consensus Estimate for earnings is pegged at $3.12 per share, indicating a year-over-year increase of 8.3%.
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NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2023 results on Oct 24, before market open. The utility delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s third-quarter results are likely to reflect the benefits of well-executed capital plans, enabling the company to serve its expanding customer base and boost its top line.
NextEra Energy’s addition of cost-effective solar plants and improving reliability through investments in its transmission and distribution system are likely to have boosted NEE’s earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 88 cents per share and $7.45 billion, respectively. Revenues and earnings per share estimates indicate year-over-year growth of 10.9% and 3.5%, respectively.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for NextEra 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 not the case here, as elaborated 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 -2.27%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
Fortis (FTS - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Oct 27, after market close. It has an Earnings ESP of +1.25% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
FTS’s long-term (three- to five-year) earnings growth rate is 5.01%. It delivered an average earnings surprise of 4.5% in the last four quarters.
Entergy (ETR - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 1, before market open. It has an Earnings ESP of +1.65% and a Zacks Rank #3 at present.
ETR’s long-term earnings growth rate is 5.83%. It delivered an average earnings surprise of 3.4% in the last four quarters.
Pinnacle West Capital Corp. (PNW - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 2, before market open. It has an Earnings ESP of +0.15% and a Zacks Rank #2 at present.
PNW’s long-term earnings growth rate is 5.55%. The Zacks Consensus Estimate for earnings is pegged at $3.12 per share, indicating a year-over-year increase of 8.3%.