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NRG Energy (NRG) to Post Q3 Earnings: What's in the Offing?
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NRG Energy, Inc. (NRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 2, before market open. The company delivered an earnings surprise of 2.8% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
During the third quarter, NRG Energy’s service territories experienced extreme heat, which is expected to have increased the demand for electricity for cooling purposes and boosted the company’s performance.
NRG Energy’s earnings are likely to have benefited from the recurring synergies from Direct Energy Integration. The company’s debt reduction initiatives might have aided its bottom-line performance. NRG is also expected to have gained from the ongoing share repurchases that might have reduced its outstanding shares and boosted earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.53 per share, indicating a year-over-year increase of 427.6%.
The Zacks Consensus Estimate for third-quarter revenues is pinned at $5.52 billion, implying a year-over-year decrease of 35.1%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NRG 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. That is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is -7.19%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NRG Energy carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
Ameren Corporation (AEE - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 8, after market close. It has an Earnings ESP of +0.22% and a Zacks Rank #3 at present.
AEE’s long-term (three- to five-year) earnings growth rate is 6.61%. The Zacks Consensus Estimate for 2023 earnings is pegged at $4.37 per share, increasing 0.2% in the past 90 days.
Consolidated Edison, Inc. (ED - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 2, after market close. It has an Earnings ESP of +3.93% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. The Zacks Consensus Estimate for 2023 earnings is pegged at $4.91 per share, increasing 1% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 7, before market open. It has an Earnings ESP of +15.26% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for 2023 earnings is pegged at $1.44 per share, increasing 30.9% in the past 90 days. TAC reported an average surprise of 107.1% in the last four quarters.
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NRG Energy (NRG) to Post Q3 Earnings: What's in the Offing?
NRG Energy, Inc. (NRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 2, before market open. The company delivered an earnings surprise of 2.8% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
During the third quarter, NRG Energy’s service territories experienced extreme heat, which is expected to have increased the demand for electricity for cooling purposes and boosted the company’s performance.
NRG Energy’s earnings are likely to have benefited from the recurring synergies from Direct Energy Integration. The company’s debt reduction initiatives might have aided its bottom-line performance. NRG is also expected to have gained from the ongoing share repurchases that might have reduced its outstanding shares and boosted earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.53 per share, indicating a year-over-year increase of 427.6%.
The Zacks Consensus Estimate for third-quarter revenues is pinned at $5.52 billion, implying a year-over-year decrease of 35.1%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NRG 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. That is not the case here, as you will see below.
NRG Energy, Inc. Price and EPS Surprise
NRG Energy, Inc. price-eps-surprise | NRG Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is -7.19%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NRG Energy carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
Ameren Corporation (AEE - Free Report) is likely to report an earnings beat when it announces third-quarter results on Nov 8, after market close. It has an Earnings ESP of +0.22% and a Zacks Rank #3 at present.
AEE’s long-term (three- to five-year) earnings growth rate is 6.61%. The Zacks Consensus Estimate for 2023 earnings is pegged at $4.37 per share, increasing 0.2% in the past 90 days.
Consolidated Edison, Inc. (ED - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 2, after market close. It has an Earnings ESP of +3.93% and a Zacks Rank #2 at present.
ED’s long-term earnings growth rate is 2%. The Zacks Consensus Estimate for 2023 earnings is pegged at $4.91 per share, increasing 1% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 7, before market open. It has an Earnings ESP of +15.26% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for 2023 earnings is pegged at $1.44 per share, increasing 30.9% in the past 90 days. TAC reported an average surprise of 107.1% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.