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What's in the Offing for NextEra Energy's (NEE) Q1 Earnings? (revised)
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NextEra Energy, Inc. (NEE - Free Report) is scheduled to release first-quarter 2020 results on Apr 22, before the market opens. This utility delivered a negative earnings surprise of 6.5% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s first-quarter earnings are likely to have been negatively impacted by the outbreak of novel coronavirus, which lowered demand from commercial, wholesale, industrial and other sectors. The company generates nearly 45% of operating revenues from these customer classes.
NextEra Energy’s first-quarter earnings are expected to have been aided by contribution from Gulf Power Company. The company is also expected to have benefited from higher residential demand as millions of Americans are staying at homes to follow the social distancing guidelines.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at $2.02 per share and $4.61 billion, respectively. The projected revenues indicate an improvement of 13.1%, while earnings per share suggest a 8.2% decline from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is -2.56%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Algonquin Power & Utilities Corp. (AQN - Free Report) is scheduled to release first-quarter results on May 7. It has an Earnings ESP of +3.53% and a Zacks Rank #2.
Pinnacle West Capital Corp. (PNW - Free Report) is scheduled to release first-quarter results on May 8. It has an Earnings ESP of +14.29% and a Zacks Rank #3.
(NOTE: This article is being reissued to correct an error. The original version, published earlier today, April 17, 2020, is no longer to be relied upon.)
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What's in the Offing for NextEra Energy's (NEE) Q1 Earnings? (revised)
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release first-quarter 2020 results on Apr 22, before the market opens. This utility delivered a negative earnings surprise of 6.5% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s first-quarter earnings are likely to have been negatively impacted by the outbreak of novel coronavirus, which lowered demand from commercial, wholesale, industrial and other sectors. The company generates nearly 45% of operating revenues from these customer classes.
NextEra Energy’s first-quarter earnings are expected to have been aided by contribution from Gulf Power Company. The company is also expected to have benefited from higher residential demand as millions of Americans are staying at homes to follow the social distancing guidelines.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at $2.02 per share and $4.61 billion, respectively. The projected revenues indicate an improvement of 13.1%, while earnings per share suggest a 8.2% decline from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is -2.56%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #2.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
FirstEnergy Corp. (FE - Free Report) is slated to release first-quarter 2020 results on Apr 23. It has an Earnings ESP of +0.51% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Algonquin Power & Utilities Corp. (AQN - Free Report) is scheduled to release first-quarter results on May 7. It has an Earnings ESP of +3.53% and a Zacks Rank #2.
Pinnacle West Capital Corp. (PNW - Free Report) is scheduled to release first-quarter results on May 8. It has an Earnings ESP of +14.29% and a Zacks Rank #3.
(NOTE: This article is being reissued to correct an error. The original version, published earlier today, April 17, 2020, is no longer to be relied upon.)
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>