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What Awaits Algonquin Power & Utilities (AQN) in Q1 Earnings?
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Algonquin Power & Utilities Corp. (AQN - Free Report) is slated to release first-quarter 2020 financial results on May 7. The utility delivered a positive earnings surprise of 11.1% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The two utility acquisitions completed by the company in the fourth quarter are expected to have contributed to first-quarter earnings. In addition, successful rate review outcomes in the last reported quarter are likely to have boosted earnings in the to-be-reported quarter.
Demand from commercial and industrial customers is expected to have declined in the first quarter due to the novel coronavirus outbreak. However, the stay-at-home directives are expected to have resulted in higher demand from the residential class, which is likely to have marginally offset the decline in demand from the industrial and commercial space in the first quarter.
Q1 Expectation
The Zacks Consensus Estimate for first-quarter revenues and earnings per share is pegged at $511.6 million and 21 cents, indicating 7.2% and 10.5% growth, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Algonquin Power & Utilities this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Algonquin Power & Utilities Corp. Price and EPS Surprise
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.
Other Stocks to Consider
Here are a few other companies worth considering from the same sector that also have the right combination of elements to beat on earnings in the upcoming releases.
New Jersey Resources (NJR - Free Report) is scheduled to release second-quarter fiscal 2020 results on May 8. It has an Earnings ESP of +3.86% and a Zacks Rank #3.
Spire Inc. (SR - Free Report) is scheduled to release second-quarter fiscal 2020 results on May 8. It has an Earnings ESP of +0.17% and a Zacks Rank #3.
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What Awaits Algonquin Power & Utilities (AQN) in Q1 Earnings?
Algonquin Power & Utilities Corp. (AQN - Free Report) is slated to release first-quarter 2020 financial results on May 7. The utility delivered a positive earnings surprise of 11.1% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The two utility acquisitions completed by the company in the fourth quarter are expected to have contributed to first-quarter earnings. In addition, successful rate review outcomes in the last reported quarter are likely to have boosted earnings in the to-be-reported quarter.
Demand from commercial and industrial customers is expected to have declined in the first quarter due to the novel coronavirus outbreak. However, the stay-at-home directives are expected to have resulted in higher demand from the residential class, which is likely to have marginally offset the decline in demand from the industrial and commercial space in the first quarter.
Q1 Expectation
The Zacks Consensus Estimate for first-quarter revenues and earnings per share is pegged at $511.6 million and 21 cents, indicating 7.2% and 10.5% growth, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for Algonquin Power & Utilities this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Algonquin Power & Utilities Corp. Price and EPS Surprise
Algonquin Power & Utilities Corp. price-eps-surprise | Algonquin Power & Utilities Corp. Quote
Earnings ESP: Its Earnings ESP is +1.59%.
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.
Other Stocks to Consider
Here are a few other companies worth considering from the same sector that also have the right combination of elements to beat on earnings in the upcoming releases.
Consolidated Edison, Inc. (ED - Free Report) is set to release first-quarter 2020 numbers on May 7. It has an Earnings ESP of +0.52% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
New Jersey Resources (NJR - Free Report) is scheduled to release second-quarter fiscal 2020 results on May 8. It has an Earnings ESP of +3.86% and a Zacks Rank #3.
Spire Inc. (SR - Free Report) is scheduled to release second-quarter fiscal 2020 results on May 8. It has an Earnings ESP of +0.17% 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.
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