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Evergy to Release Q3 Earnings: Here's What You Need to Know
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Evergy (EVRG - Free Report) is scheduled to release third-quarter 2024 results on Nov. 7, before market open. The company delivered a negative earnings surprise of 9.1% 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.
Key Factors That Might Have Impacted EVRG's Q3 Earnings
Evergy’s quarterly earnings are expected to have benefited from ongoing investments targeted toward grid modernization. The bottom line is likely to have gained from energy efficiency programs and cost-saving initiatives.
The company is also projected to have continued to benefit from economic development in its service territories and consequent growth in demand.
However, some of the company’s service territories experienced outages during the third quarter due to severe storms. This might have had a negative impact on EVRG’s quarterly earnings. Higher depreciation and interest expenses are likely to have adversely impacted the bottom line.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.95 per share, implying a year-over-year increase of 3.7%.
The Zacks Consensus Estimate for revenues is pinned at $1.67 billion, indicating an increase of 0.3% from the year-ago reported figure.
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. That is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is -0.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following player from the same industry as it has the right combination of elements to post an earnings beat this reporting cycle.
PG&E (PCG - Free Report) is likely to come up with an earnings beat when it reports third-quarter earnings on Nov. 7. It has an Earnings ESP of +6.35% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for earnings has increased 14.3% in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $6.67 billion, indicating year-over-year growth of 13.3%.
Recent Releases
Eversource Energy (ES - Free Report) reported third-quarter 2024 adjusted earnings of $1.13 per share, which surpassed the Zacks Consensus Estimate of $1.04 per share by 8.7%.
ES’ long-term (three to five years) earnings growth rate is 5.63%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 5.1%.
Exelon Corporation’s (EXC - Free Report) third-quarter 2024 earnings of 71 cents per share surpassed the Zacks Consensus Estimate of 67 cents by 5.9%.
EXC’s long-term earnings growth rate is 5.72%. It delivered an average earnings surprise of 6.4% in the trailing four quarters.
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Evergy to Release Q3 Earnings: Here's What You Need to Know
Evergy (EVRG - Free Report) is scheduled to release third-quarter 2024 results on Nov. 7, before market open. The company delivered a negative earnings surprise of 9.1% 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.
Key Factors That Might Have Impacted EVRG's Q3 Earnings
Evergy’s quarterly earnings are expected to have benefited from ongoing investments targeted toward grid modernization. The bottom line is likely to have gained from energy efficiency programs and cost-saving initiatives.
The company is also projected to have continued to benefit from economic development in its service territories and consequent growth in demand.
However, some of the company’s service territories experienced outages during the third quarter due to severe storms. This might have had a negative impact on EVRG’s quarterly earnings. Higher depreciation and interest expenses are likely to have adversely impacted the bottom line.
Q3 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.95 per share, implying a year-over-year increase of 3.7%.
The Zacks Consensus Estimate for revenues is pinned at $1.67 billion, indicating an increase of 0.3% from the year-ago reported figure.
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. That is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is -0.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Evergy Inc. Price, Consensus and EPS Surprise
Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote
Zacks Rank: Currently, Evergy carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank stocks here.
An Upcoming Release
Investors may consider the following player from the same industry as it has the right combination of elements to post an earnings beat this reporting cycle.
PG&E (PCG - Free Report) is likely to come up with an earnings beat when it reports third-quarter earnings on Nov. 7. It has an Earnings ESP of +6.35% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for earnings has increased 14.3% in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $6.67 billion, indicating year-over-year growth of 13.3%.
Recent Releases
Eversource Energy (ES - Free Report) reported third-quarter 2024 adjusted earnings of $1.13 per share, which surpassed the Zacks Consensus Estimate of $1.04 per share by 8.7%.
ES’ long-term (three to five years) earnings growth rate is 5.63%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 5.1%.
Exelon Corporation’s (EXC - Free Report) third-quarter 2024 earnings of 71 cents per share surpassed the Zacks Consensus Estimate of 67 cents by 5.9%.
EXC’s long-term earnings growth rate is 5.72%. It delivered an average earnings surprise of 6.4% in the trailing four quarters.