Alliant Energy Corporation (LNT - Free Report) is slated to release first-quarter 2020 financial results on May 7.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The new wind assets of Alliant Energy that are placed in service during the first quarter are expected to have boosted earnings.
Demand from commercial and industrial (C&I) 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. This is likely to have marginally offset the decline in demand from the C&I space in the first quarter.
During the first quarter, the company decided to temporarily suspend disconnections for all Iowa and Wisconsin customers. This step was taken to help customers who are facing financial hardships due to the outbreak of COVID-19. Although this is an excellent initiative, it can result in marginally lower year-over-year revenues in the first quarter.
The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 55 cents, indicating 3.8% growth from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for Alliant Energy 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. That is not the case here as you will see below.
Earnings ESP: Its Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Alliant Energy currently carries a Zacks Rank #3.
Stocks to Consider
Here are a few companies worth considering from the same sector that 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 +0.35% 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.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>