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Eversource (ES) to Report Q3 Earnings: What's in the Offing?

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We expect Eversource Energy (ES - Free Report) to beat third-quarter 2019 estimates when it reports financial results on Nov 6, before the opening bell. The utility delivered a positive earnings surprise of 1.37% in the last reported quarter.

What Our Quantitative Model Predicts

Our proven model does conclusively predict an earnings beat for Eversource this season. 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 you will see below.

Earnings ESP: The firm’s Earnings ESP is +1.06%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Eversource currently carries a Zacks Rank #2.

Factors to Consider

Eversource’s third-quarter earnings are expected to have benefited from New Hampshire’s temporary distribution rate increase that came into effect during the third quarter. Earnings are also anticipated to get a boost from the water distribution segment and cost-saving initiatives undertaken by the company. However, the Yankee Gas settlement is likely to have had a negative impact of 2 cents on third-quarter earnings.

The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $2.32 billion and 94 cents, indicating 2.04% and 1.08% growth, respectively, from the year-ago reported figures.

Eversource Energy Price and EPS Surprise

Eversource Energy Price and EPS Surprise

Eversource Energy price-eps-surprise | Eversource Energy Quote

Stocks to Consider

Here are a few companies worth considering from the same industry, as these have the right combination of elements to beat on earnings in the upcoming releases.

PPL Corporation (PPL - Free Report) is expected to release third-quarter results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

South Jersey Industries Inc. (SJI - Free Report) is expected to release third-quarter results on Nov 6. It has an Earnings ESP of +15.85% and a Zacks Rank #3.

Spire Inc. (SR - Free Report) is scheduled to release fourth-quarter fiscal 2019 results on Nov 20. It has an Earnings ESP of +2.55% and a Zacks Rank of 2.

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PPL Corporation (PPL) - free report >>

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Spire Inc. (SR) - free report >>

Eversource Energy (ES) - free report >>