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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.

FirstEnergy Corporation Price and EPS Surprise

 

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.

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