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NextEra Energy (NEE) to Report Q4 Earnings: What's in the Cards?
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its fourth-quarter 2023 results on Jan 25, before market open. The utility delivered an average earnings surprise of 7.33% in the last four reported quarters.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s fourth-quarter results are likely to have benefited from solid demand spurred by an expanding customer base in Florida. This is expected to have given a boost to the top line. Florida Power Light’s continued execution of its capital plan is likely to have contributed to its fourth-quarter earnings.
NextEra Energy has created a competitive and complete renewable energy business at Energy Resources and the stable performance of this division is expected to boost earnings in the fourth quarter.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings and revenues is pegged at 49 cents per share and $6.15 billion, respectively. Revenues and earnings per share estimates indicate a year-over-year decline of 0.2% and 3.9%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts 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 the case here, as elaborated below.
Earnings ESP: The company’s Earnings ESP is +4.79%. 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.
Other Stocks to Consider
Investors can consider the following players from the same industry that also have the right combination of elements to beat on earnings this reporting cycle.
IDA’s long-term earnings growth rate is 4.11%. It delivered an average earnings surprise of 13.3% in the last four quarters.
NiSource (NI - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings soon. It has an Earnings ESP of +1.92% and has a Zacks Rank #2 at present.
NI’s long-term earnings growth rate is 7.15%. It delivered an average earnings surprise of 5.6% in the last four quarters.
CMS Energy (CMS - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings soon. It has an Earnings ESP of +0.77% and a Zacks Rank #3 at present.
CMS’ long-term (three- to five-year) earnings growth rate is 7.5%. It delivered an average earnings surprise of 2.9% in the last four quarters.
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NextEra Energy (NEE) to Report Q4 Earnings: What's in the Cards?
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its fourth-quarter 2023 results on Jan 25, before market open. The utility delivered an average earnings surprise of 7.33% in the last four reported quarters.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s fourth-quarter results are likely to have benefited from solid demand spurred by an expanding customer base in Florida. This is expected to have given a boost to the top line. Florida Power Light’s continued execution of its capital plan is likely to have contributed to its fourth-quarter earnings.
NextEra Energy has created a competitive and complete renewable energy business at Energy Resources and the stable performance of this division is expected to boost earnings in the fourth quarter.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings and revenues is pegged at 49 cents per share and $6.15 billion, respectively. Revenues and earnings per share estimates indicate a year-over-year decline of 0.2% and 3.9%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts 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 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 +4.79%. 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.
Other Stocks to Consider
Investors can consider the following players from the same industry that also have the right combination of elements to beat on earnings this reporting cycle.
IDACORP (IDA - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings soon. It has an Earnings ESP of +2.52% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here
IDA’s long-term earnings growth rate is 4.11%. It delivered an average earnings surprise of 13.3% in the last four quarters.
NiSource (NI - Free Report) is likely to come up with an earnings beat when it reports its fourth-quarter earnings soon. It has an Earnings ESP of +1.92% and has a Zacks Rank #2 at present.
NI’s long-term earnings growth rate is 7.15%. It delivered an average earnings surprise of 5.6% in the last four quarters.
CMS Energy (CMS - Free Report) is likely to pull off an earnings beat when it reports fourth-quarter 2023 earnings soon. It has an Earnings ESP of +0.77% and a Zacks Rank #3 at present.
CMS’ long-term (three- to five-year) earnings growth rate is 7.5%. It delivered an average earnings surprise of 2.9% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.