Eversource Energy (ES) to Post Q2 Earnings: What's in Store?
Eversource Energy ES is slated to release second-quarter 2021 financial results on Jul 30. The utility came up with an earnings surprise of 4.6% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Eversource Energy’s second-quarter earnings are likely to have benefited from contribution from the acquired Columbia Gas of Massachusetts assets. The company’s second-quarter earnings are likely to have benefited from electric transmission system investment.
Cost-management initiatives undertaken by the company are likely to have boosted margins during the to-be-reported quarter.
Expectation
The Zacks Consensus Estimate for second-quarter revenues and earnings per share is pegged at $2.18 billion and 81 cents, indicating 11.7% and 6.6% growth, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Eversource 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 odds of an earnings beat. That is not the case here as you will see below.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Earnings ESP: Its Earnings ESP is -0.33%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eversource Energy currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Investors can consider the following players from the industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Xcel Energy Inc. XEL is scheduled to release second-quarter 2021 earnings on Jul 29. It has an Earnings ESP of +0.45% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Duke Energy Corporation DUK is set to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +0.15% and a Zacks Rank of 3.
NRG Energy, Inc. NRG is set to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +32.84% and a Zacks Rank of 3.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Xcel Energy Inc. (XEL) : Free Stock Analysis Report
NRG Energy, Inc. (NRG) : Free Stock Analysis Report
Duke Energy Corporation (DUK) : Free Stock Analysis Report
Eversource Energy (ES) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
