We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Edison International (EIX) Q1 Earnings?
Read MoreHide Full Article
Edison International (EIX - Free Report) is set to release first-quarter 2020 results on Apr 30, after market close.
In the last reported quarter, the company witnessed a negative earnings surprise of 4.81%. However, the company delivered a positive earnings surprise of 0.39%, on average, in the trailing four quarters.
Let’s see how things are shaping up prior to this announcement.
Factors Under Consideration
Toward the end of February and the entire March, major parts of California experienced below-normal temperatures. This, in turn, is likely to have resulted in higher household expenditure on heating, which in turn is expected to have driven Edison International’s first-quarter top line.
In line with this, the Zacks Consensus Estimate for first-quarter revenues of $2.97 billion suggests a rise of 4.5% from the year-ago quarter’s reported figure.
At the onset of the last week of March, Edison International announced its voluntary postponement of non-critical planned projects to prioritize the health of its employees, in light of the coronavirus outbreak. This might have lowered the company’s forecasted expenditures for completing these projects, thereby boosting its bottom line. Also, dilution of shares is expected to have bolstered its earnings.
In line with this, the Zacks Consensus Estimate for first-quarter earnings is pegged at 77 cents, implying a 22.2% year-over-year improvement.
During the last week of March, the company announced that it is suspending service disconnections for non-payment and waiving late fees for residential and business customers affected by the COVID-19 emergency. The effects of these initiatives are expected to duly get reflected in the soon-to-be-reported quarterly performance.
Our proven model does not conclusively predict an earnings beat for Edison International 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. But this is not the case here.
Earnings ESP: The company’s Earnings ESP is -4.96%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some players from the Utilities sector that have the right combination of elements to post an earnings beat this season.
Algonquin Power & Utilities Corp. (AQN - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #2. The company will announce first-quarter 2020 earnings on May 7.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
Avangrid, Inc. (AGR - Free Report) has an Earnings ESP of +0.68% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on Apr 28.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
What's in Store for Edison International (EIX) Q1 Earnings?
Edison International (EIX - Free Report) is set to release first-quarter 2020 results on Apr 30, after market close.
In the last reported quarter, the company witnessed a negative earnings surprise of 4.81%. However, the company delivered a positive earnings surprise of 0.39%, on average, in the trailing four quarters.
Let’s see how things are shaping up prior to this announcement.
Factors Under Consideration
Toward the end of February and the entire March, major parts of California experienced below-normal temperatures. This, in turn, is likely to have resulted in higher household expenditure on heating, which in turn is expected to have driven Edison International’s first-quarter top line.
In line with this, the Zacks Consensus Estimate for first-quarter revenues of $2.97 billion suggests a rise of 4.5% from the year-ago quarter’s reported figure.
At the onset of the last week of March, Edison International announced its voluntary postponement of non-critical planned projects to prioritize the health of its employees, in light of the coronavirus outbreak. This might have lowered the company’s forecasted expenditures for completing these projects, thereby boosting its bottom line. Also, dilution of shares is expected to have bolstered its earnings.
In line with this, the Zacks Consensus Estimate for first-quarter earnings is pegged at 77 cents, implying a 22.2% year-over-year improvement.
During the last week of March, the company announced that it is suspending service disconnections for non-payment and waiving late fees for residential and business customers affected by the COVID-19 emergency. The effects of these initiatives are expected to duly get reflected in the soon-to-be-reported quarterly performance.
Edison International Price and EPS Surprise
Edison International price-eps-surprise | Edison International Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Edison International 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. But this is not the case here.
Earnings ESP: The company’s Earnings ESP is -4.96%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Edison International carries a Zacks Rank #3, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are some players from the Utilities sector that have the right combination of elements to post an earnings beat this season.
Algonquin Power & Utilities Corp. (AQN - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #2. The company will announce first-quarter 2020 earnings on May 7.
Consolidated Edison (ED - Free Report) has an Earnings ESP of +0.69% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on May 7.
Avangrid, Inc. (AGR - Free Report) has an Earnings ESP of +0.68% and a Zacks Rank #3. The company will announce first-quarter 2020 earnings on Apr 28.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>