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Evergy (EVRG) to Report Q3 Earnings: Here's What to Expect
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Evergy Inc. (EVRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, before market open. The company delivered an earnings surprise of 2.53% in the last reported quarter.
Factors to Consider
EVRG’s third-quarter revenues are expected to have benefited from improved regional rate competitiveness and new loads as a result of reshoring. The ongoing cost-saving initiatives are likely to have lowered operating and maintenance expenses. Our model predicts operating and maintenance expenses of $218.7 million, down 17.9% from the year-ago quarter’s reported figure.
However, severe storms hit some areas served by Evergy. This might have resulted in outages for the customers, thereby reducing its electricity demand and, in turn, its quarterly top line. This, along with higher interest expenses, is likely to have adversely impacted its bottom-line performance.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.77 per share, indicating a year-over-year decrease of 11.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.63 billion, implying a year-over-year decline of 14.6%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy 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 not the case here.
Earnings ESP: The company’s Earnings ESP is +1.98%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, EVRG carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
The Zacks Consensus Estimate for earnings is pegged at 6 cents per share, indicating a year-over-year increase of 200%. The consensus mark for 2023 earnings is pinned at 52 cents per share, implying a year-over-year improvement of 333.3%.
Devon Energy Corp. (DVN - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank of 2.
DVN’s long-term (three- to five-year) earnings growth rate is 51.3%. It delivered an average earnings surprise of 0.78% in the last four quarters.
TC Energy Corp. (TRP - Free Report) is set to report third-quarter 2023 results on Nov 8, before market open. It has an Earnings ESP of +0.37% and presently carries a Zacks Rank of 3.
TRP’s long-term earnings growth rate is 4%. It delivered an average earnings surprise of 1.05% in the last four quarters.
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Evergy (EVRG) to Report Q3 Earnings: Here's What to Expect
Evergy Inc. (EVRG - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, before market open. The company delivered an earnings surprise of 2.53% in the last reported quarter.
Factors to Consider
EVRG’s third-quarter revenues are expected to have benefited from improved regional rate competitiveness and new loads as a result of reshoring. The ongoing cost-saving initiatives are likely to have lowered operating and maintenance expenses. Our model predicts operating and maintenance expenses of $218.7 million, down 17.9% from the year-ago quarter’s reported figure.
However, severe storms hit some areas served by Evergy. This might have resulted in outages for the customers, thereby reducing its electricity demand and, in turn, its quarterly top line. This, along with higher interest expenses, is likely to have adversely impacted its bottom-line performance.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.77 per share, indicating a year-over-year decrease of 11.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.63 billion, implying a year-over-year decline of 14.6%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy 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 not the case here.
Evergy Inc. Price and EPS Surprise
Evergy Inc. price-eps-surprise | Evergy Inc. Quote
Earnings ESP: The company’s Earnings ESP is +1.98%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, EVRG carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Opal Fuels Inc. (OPAL - Free Report) is set to report third-quarter 2023 results on Nov 13, after market close. It has an Earnings ESP of +16.67% and a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for earnings is pegged at 6 cents per share, indicating a year-over-year increase of 200%. The consensus mark for 2023 earnings is pinned at 52 cents per share, implying a year-over-year improvement of 333.3%.
Devon Energy Corp. (DVN - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank of 2.
DVN’s long-term (three- to five-year) earnings growth rate is 51.3%. It delivered an average earnings surprise of 0.78% in the last four quarters.
TC Energy Corp. (TRP - Free Report) is set to report third-quarter 2023 results on Nov 8, before market open. It has an Earnings ESP of +0.37% and presently carries a Zacks Rank of 3.
TRP’s long-term earnings growth rate is 4%. It delivered an average earnings surprise of 1.05% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.