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FirstEnergy (FE) to Post Q1 Earnings: Is a Beat in Store?
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FirstEnergy Corporation (FE - Free Report) is scheduled to release first-quarter 2020 results on Apr 23, after market close. The company has a trailing four-quarter positive earnings surprise of 5.47%, on average.
Factors to Consider
The Energizing the Future plan has completed its sixth year and enhanced the company’s reliability, resiliency and security. This is expected to have boosted the company’s first-quarter earnings as well.
FirstEnergy is well positioned to manage its operation amid economic slowdown due to the novel coronavirus outbreak, as 65% distribution revenues are generated from residential customers. The company’s first-quarter earnings are likely to have benefited from the uninterrupted supply chain.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter 2020 earnings per share is pegged at 65 cents, which indicates a decline of 2.99% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for first-quarter sales is pegged at $2.92 billion, which suggests an increase of 1.27% from the year-ago quarter’s figure.
The company reaffirmed its first-quarter operating earnings guidance in the range of 60-70 cents per share.
Our proven model predicts an earnings beat for FirstEnergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same industry that also have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Dominion Energy Inc. (D - Free Report) is slated to release first-quarter 2020 results on May 5. It has an Earnings ESP of +0.86% and a Zacks Rank #1.
Algonquin Power & Utilities Corp. (AQN - Free Report) is set to release first-quarter 2020 results on May 7. It has an Earnings ESP of +3.53% and a Zacks Rank #2.
Duke Energy Corporation (DUK - Free Report) is set to release first-quarter 2020 results on May 12. It has an Earnings ESP of +1.73% and a Zacks Rank #3.
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FirstEnergy (FE) to Post Q1 Earnings: Is a Beat in Store?
FirstEnergy Corporation (FE - Free Report) is scheduled to release first-quarter 2020 results on Apr 23, after market close. The company has a trailing four-quarter positive earnings surprise of 5.47%, on average.
Factors to Consider
The Energizing the Future plan has completed its sixth year and enhanced the company’s reliability, resiliency and security. This is expected to have boosted the company’s first-quarter earnings as well.
FirstEnergy is well positioned to manage its operation amid economic slowdown due to the novel coronavirus outbreak, as 65% distribution revenues are generated from residential customers. The company’s first-quarter earnings are likely to have benefited from the uninterrupted supply chain.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter 2020 earnings per share is pegged at 65 cents, which indicates a decline of 2.99% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for first-quarter sales is pegged at $2.92 billion, which suggests an increase of 1.27% from the year-ago quarter’s figure.
The company reaffirmed its first-quarter operating earnings guidance in the range of 60-70 cents per share.
FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote
What Our Model Says
Our proven model predicts an earnings beat for FirstEnergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +0.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #2.
Other Stocks to Consider
Investors can consider the following players from the same industry that also have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Dominion Energy Inc. (D - Free Report) is slated to release first-quarter 2020 results on May 5. It has an Earnings ESP of +0.86% and a Zacks Rank #1.
Algonquin Power & Utilities Corp. (AQN - Free Report) is set to release first-quarter 2020 results on May 7. It has an Earnings ESP of +3.53% and a Zacks Rank #2.
Duke Energy Corporation (DUK - Free Report) is set to release first-quarter 2020 results on May 12. It has an Earnings ESP of +1.73% and a Zacks Rank #3.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>