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FirstEnergy (FE) to Report Q4 Earnings: What's in the Cards?
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FirstEnergy Corporation (FE - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 8, after market close. The company had delivered an earnings surprise of 3.5% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
FirstEnergy’s fourth-quarter earnings are expected to have been likely benefited from its ongoing Energizing the Future plan, which is aimed at enhancing and expanding regulated transmission capabilities.
In October 2023, a new distribution base rate increase case was approved by the Maryland Public Service Commission and became effective during the same month, which is likely to have positively impacted the fourth-quarter results.
In October 2023, FirstEnergy’s subsidiary, Penn Power, finished expanding its smart grid in Mercer County, to strengthen its power infrastructure and help avoid service interruptions, particularly during severe weather conditions. The project is expected to have boosted earnings in the to-be-reported quarter.
The company’s fourth-quarter earnings are expected to have gained from cost management efforts, which resulted in reduced operating expenses.
Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 60 cents per share, indicating a year-over-year increase of 20%.
The Zacks Consensus Estimate for revenues is pinned at $3.29 billion, implying a 3.4% improvement year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FirstEnergy 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 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.52% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for IDA’s earnings is pegged at 60 cents per share. The company delivered an average earnings surprise of 13.3% in the last four quarters.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.95% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SO’s earnings is pegged at 59 cents per share. The company delivered an average earnings surprise of 8.5% in the last four quarters.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces fourth-quarter results soon. It has an Earnings ESP of +1.92% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for NI’s earnings is pegged at 52 cents per share. The company delivered an average earnings surprise of 5.6% in the last four quarters.
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FirstEnergy (FE) to Report Q4 Earnings: What's in the Cards?
FirstEnergy Corporation (FE - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 8, after market close. The company had delivered an earnings surprise of 3.5% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
FirstEnergy’s fourth-quarter earnings are expected to have been likely benefited from its ongoing Energizing the Future plan, which is aimed at enhancing and expanding regulated transmission capabilities.
In October 2023, a new distribution base rate increase case was approved by the Maryland Public Service Commission and became effective during the same month, which is likely to have positively impacted the fourth-quarter results.
In October 2023, FirstEnergy’s subsidiary, Penn Power, finished expanding its smart grid in Mercer County, to strengthen its power infrastructure and help avoid service interruptions, particularly during severe weather conditions. The project is expected to have boosted earnings in the to-be-reported quarter.
The company’s fourth-quarter earnings are expected to have gained from cost management efforts, which resulted in reduced operating expenses.
Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 60 cents per share, indicating a year-over-year increase of 20%.
The Zacks Consensus Estimate for revenues is pinned at $3.29 billion, implying a 3.4% improvement year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for FirstEnergy 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.
FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy 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 as these have the right combination of elements to post an earnings beat this reporting cycle.
IDACORP (IDA - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.52% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for IDA’s earnings is pegged at 60 cents per share. The company delivered an average earnings surprise of 13.3% in the last four quarters.
The Southern Company (SO - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 15, before market open. It has an Earnings ESP of +2.95% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SO’s earnings is pegged at 59 cents per share. The company delivered an average earnings surprise of 8.5% in the last four quarters.
NiSource Inc. (NI - Free Report) is likely to report an earnings beat when it announces fourth-quarter results soon. It has an Earnings ESP of +1.92% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for NI’s earnings is pegged at 52 cents per share. The company delivered an average earnings surprise of 5.6% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.