We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Utilities to Report Earnings on Aug 4: DUK, ED, HE, OGE, BEP
Read MoreHide Full Article
We have well surpassed the half-way mark of second-quarter earnings releases with nearly 63% of S&P 500 members having already announced their results as of Jun 29. Earnings have declined 3.3% on a 0.9% drop in revenues from the same period last year. As for the beat ratios, 72.9% of the companies have come ahead of earnings estimates and 53.6% have surpassed revenue expectations.
If we take into consideration this week’s scheduled second-quarter earnings releases of 116 S&P 500 members, the total S&P 500 index release will touch nearly 87% by the end of this week. The picture that has emerged so far shows clearly that we are into another season of an earnings decline for the S&P 500 index. Earnings growth is projected to be in negative territory for the fifth straight quarter.
Eight out of the 16 sectors in the Zacks coverage universe are expected to witness an earnings decline. Overall, earnings are expected to be down 3.4% from the same period last year on a 0.4% decline in revenues. The largest drop will come not unsurprisingly from the Energy sector where earnings are expected to plunge 84% from the same period last year on a 26% decline in revenues (read more in our weekly Earnings Preview report).
Against this backdrop, let us focus on the Utility space, which is expected to be among the top performing sectors this season. Utilities are expected to grow second-quarter earnings by 20.4% supported by a 2.4% top-line improvement.
The capital intensive utilities have been benefiting from rock-bottom interest rates. Moreover, warmer-than-normal weather that prevailed in the U.S. during the second quarter should give a boost to sales.
Here, let us focus on a few utilities reporting on Aug 4.
Duke Energy Corporation (DUK - Free Report) , a Zacks Rank #3 (Hold) stock, reported on par earnings in the previous quarter. Duke Energy’s Earnings ESP which represents the difference between the Most Accurate estimate of $1.02 and the Zacks Consensus Estimate of $1.00 is +2.00% (read more: Duke Energy : Stock to Beat Q2 Earnings Estimates?).
Consolidated Edison Inc. (ED - Free Report) , a Zacks Rank #3 (Hold) stock, reported a negative earnings surprise of 3.28% in the previous quarter. Consolidated Edison’s Earnings ESP which represents the difference between the Most Accurate estimate of 73 cents and the Zacks Consensus Estimate of 73 cents is 0.00% (read more: Consolidated Edison Q2 Earnings: What's in Cards?).
Hawaiian Electric Industries Inc. (HE - Free Report) , a Zacks Rank #3 stock, reported a negative earnings surprise of 16.22% in the previous quarter. Hawaiian Electric Industries’ Earnings ESP which represents the difference between the Most Accurate estimate of 40 cents and the Zacks Consensus Estimate of 41 cents is -2.44%.
Our proven model does not conclusively show that Hawaiian Electric Industries is likely to beat estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 for this to happen.
OGE Energy Corp. (OGE - Free Report) , a Zacks Rank #4 (sell) stock, reported on par earnings in the previous quarter. OGE Energy Corp’s Earnings ESP which represents the difference between the Most Accurate estimate of 41 cents and the Zacks Consensus Estimate of 42 cents is -2.38%. Our proven model does not conclusively show that OGE Energy Corp is likely to beat estimates this quarter.
Brookfield Renewable Partners L.P. (BEP - Free Report) , a Zacks Rank #4 stock, has a generation capacity of 7,284 megawatts, mainly fueled by renewable fuel. The partnership reported a positive earnings surprise of 33.33% in the previous quarter.
Brookfield Renewable Partners’ Earnings ESP which represents the difference between the Most Accurate estimate of 15 cents and the Zacks Consensus Estimate of 15 cents is 0.00%. Our proven model does not conclusively show that Brookfield Renewable Partners is likely to beat estimates this quarter.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Utilities to Report Earnings on Aug 4: DUK, ED, HE, OGE, BEP
We have well surpassed the half-way mark of second-quarter earnings releases with nearly 63% of S&P 500 members having already announced their results as of Jun 29. Earnings have declined 3.3% on a 0.9% drop in revenues from the same period last year. As for the beat ratios, 72.9% of the companies have come ahead of earnings estimates and 53.6% have surpassed revenue expectations.
If we take into consideration this week’s scheduled second-quarter earnings releases of 116 S&P 500 members, the total S&P 500 index release will touch nearly 87% by the end of this week. The picture that has emerged so far shows clearly that we are into another season of an earnings decline for the S&P 500 index. Earnings growth is projected to be in negative territory for the fifth straight quarter.
Eight out of the 16 sectors in the Zacks coverage universe are expected to witness an earnings decline. Overall, earnings are expected to be down 3.4% from the same period last year on a 0.4% decline in revenues. The largest drop will come not unsurprisingly from the Energy sector where earnings are expected to plunge 84% from the same period last year on a 26% decline in revenues (read more in our weekly Earnings Preview report).
Against this backdrop, let us focus on the Utility space, which is expected to be among the top performing sectors this season. Utilities are expected to grow second-quarter earnings by 20.4% supported by a 2.4% top-line improvement.
The capital intensive utilities have been benefiting from rock-bottom interest rates. Moreover, warmer-than-normal weather that prevailed in the U.S. during the second quarter should give a boost to sales.
Here, let us focus on a few utilities reporting on Aug 4.
Duke Energy Corporation (DUK - Free Report) , a Zacks Rank #3 (Hold) stock, reported on par earnings in the previous quarter. Duke Energy’s Earnings ESP which represents the difference between the Most Accurate estimate of $1.02 and the Zacks Consensus Estimate of $1.00 is +2.00% (read more: Duke Energy : Stock to Beat Q2 Earnings Estimates?).
DUKE ENERGY CP Price and EPS Surprise
DUKE ENERGY CP Price and EPS Surprise | DUKE ENERGY CP Quote
Consolidated Edison Inc. (ED - Free Report) , a Zacks Rank #3 (Hold) stock, reported a negative earnings surprise of 3.28% in the previous quarter. Consolidated Edison’s Earnings ESP which represents the difference between the Most Accurate estimate of 73 cents and the Zacks Consensus Estimate of 73 cents is 0.00% (read more: Consolidated Edison Q2 Earnings: What's in Cards?).
CONSOL EDISON Price and EPS Surprise
CONSOL EDISON Price and EPS Surprise | CONSOL EDISON Quote
Hawaiian Electric Industries Inc. (HE - Free Report) , a Zacks Rank #3 stock, reported a negative earnings surprise of 16.22% in the previous quarter. Hawaiian Electric Industries’ Earnings ESP which represents the difference between the Most Accurate estimate of 40 cents and the Zacks Consensus Estimate of 41 cents is -2.44%.
Our proven model does not conclusively show that Hawaiian Electric Industries is likely to beat estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 for this to happen.
HAWAIIAN ELEC Price and EPS Surprise
HAWAIIAN ELEC Price and EPS Surprise | HAWAIIAN ELEC Quote
OGE Energy Corp. (OGE - Free Report) , a Zacks Rank #4 (sell) stock, reported on par earnings in the previous quarter. OGE Energy Corp’s Earnings ESP which represents the difference between the Most Accurate estimate of 41 cents and the Zacks Consensus Estimate of 42 cents is -2.38%. Our proven model does not conclusively show that OGE Energy Corp is likely to beat estimates this quarter.
OGE ENERGY CORP Price and EPS Surprise
OGE ENERGY CORP Price and EPS Surprise | OGE ENERGY CORP Quote
Brookfield Renewable Partners L.P. (BEP - Free Report) , a Zacks Rank #4 stock, has a generation capacity of 7,284 megawatts, mainly fueled by renewable fuel. The partnership reported a positive earnings surprise of 33.33% in the previous quarter.
Brookfield Renewable Partners’ Earnings ESP which represents the difference between the Most Accurate estimate of 15 cents and the Zacks Consensus Estimate of 15 cents is 0.00%. Our proven model does not conclusively show that Brookfield Renewable Partners is likely to beat estimates this quarter.
BROOKFLD RENWBL Price and EPS Surprise
BROOKFLD RENWBL Price and EPS Surprise | BROOKFLD RENWBL Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>