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NextEra Energy Partners to Release Q3 Earnings: What's in Store?
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NextEra Energy Partners, LP is scheduled to release third-quarter 2024 results on Oct. 23, before market open. The firm delivered a negative earnings surprise of 5.7% in the last reported quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Major Factors That May Impact NEP's Q3 Results
The firm’s third-quarter earnings are expected to have benefited from the continued expansion of its high-quality portfolio of renewable energy sources.
NEP’s commitment to long-term contracted renewable energy assets with strong cash flows might have also contributed to its profitability.
The firm has utilized funds to complete its NEP Renewables II buyouts for $190 million. This is expected to have helped the firm in expanding its renewable portfolio and benefited its third-quarter earnings.
The firm is also likely to have utilized funds in repayment of debt, which might have had a positive impact on its results.
NEP continues to enjoy structural tax advantages and is not likely to pay meaningful U.S. taxes for at least 15 years. This might have also boosted its earnings.
However, higher depreciation and amortization expenses might offset some positives in the to-be-reported quarter.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at 51 cents per unit, implying a year-over-year decrease of 10.5%.
The Zacks Consensus Estimate for revenues is pinned at $325.11 million, indicating a decline of 11.4% year over year.
What Our Quantitative Model Predicts
Our proven model does not predict an earnings beat for NextEra Energy Partners 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.
NextEra Energy Partners, LP Price and EPS Surprise
Here are a few players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
GE Vernova Inc. (GEV - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Oct. 23, before market open. It has an Earnings ESP of +1.90% and a Zacks Rank #2 at present.
GEV’s long-term (three to five years) earnings growth rate is 21%. The Zacks Consensus Estimate for third-quarter earnings is pinned at 22 cents per share.
Cheniere Energy (LNG - Free Report) is likely to come up with an earnings beat when it announces third-quarter results on Oct. 31, before market open. It has an Earnings ESP of +5.35% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for third-quarter earnings has increased 2.7% to $1.87 per share in the past 60 days. The company delivered an average earnings surprise of 55.9% in the trailing four quarters.
TC Energy (TRP - Free Report) is expected to post an earnings beat when it announces third-quarter results on Nov. 7, before market open. It has an Earnings ESP of +4.57% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for third-quarter earnings has increased 1.5% to 69 cents per share in the past 60 days. It delivered an average earnings surprise of 12% in the trailing four quarters.
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NextEra Energy Partners to Release Q3 Earnings: What's in Store?
NextEra Energy Partners, LP is scheduled to release third-quarter 2024 results on Oct. 23, before market open. The firm delivered a negative earnings surprise of 5.7% in the last reported quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Major Factors That May Impact NEP's Q3 Results
The firm’s third-quarter earnings are expected to have benefited from the continued expansion of its high-quality portfolio of renewable energy sources.
NEP’s commitment to long-term contracted renewable energy assets with strong cash flows might have also contributed to its profitability.
The firm has utilized funds to complete its NEP Renewables II buyouts for $190 million. This is expected to have helped the firm in expanding its renewable portfolio and benefited its third-quarter earnings.
The firm is also likely to have utilized funds in repayment of debt, which might have had a positive impact on its results.
NEP continues to enjoy structural tax advantages and is not likely to pay meaningful U.S. taxes for at least 15 years. This might have also boosted its earnings.
However, higher depreciation and amortization expenses might offset some positives in the to-be-reported quarter.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at 51 cents per unit, implying a year-over-year decrease of 10.5%.
The Zacks Consensus Estimate for revenues is pinned at $325.11 million, indicating a decline of 11.4% year over year.
What Our Quantitative Model Predicts
Our proven model does not predict an earnings beat for NextEra Energy Partners 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.
NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote
Earnings ESP: NEP’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, the firm carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
GE Vernova Inc. (GEV - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Oct. 23, before market open. It has an Earnings ESP of +1.90% and a Zacks Rank #2 at present.
GEV’s long-term (three to five years) earnings growth rate is 21%. The Zacks Consensus Estimate for third-quarter earnings is pinned at 22 cents per share.
Cheniere Energy (LNG - Free Report) is likely to come up with an earnings beat when it announces third-quarter results on Oct. 31, before market open. It has an Earnings ESP of +5.35% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for third-quarter earnings has increased 2.7% to $1.87 per share in the past 60 days. The company delivered an average earnings surprise of 55.9% in the trailing four quarters.
TC Energy (TRP - Free Report) is expected to post an earnings beat when it announces third-quarter results on Nov. 7, before market open. It has an Earnings ESP of +4.57% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for third-quarter earnings has increased 1.5% to 69 cents per share in the past 60 days. It delivered an average earnings surprise of 12% in the trailing four quarters.