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Eversource (ES) to Report Q1 Earnings: What's in the Offing?

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Eversource Energy ES is slated to release first-quarter 2020 financial results on May 7. The utility delivered a negative earnings surprise of 2.6% 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’s first-quarter earnings are expected to have benefited from continued investment in the transmission system, and the positive impacts of multi-year regulatory plans for electric and natural gas distribution businesses.

Nearly 52% of its revenues are generated from residential customers. The extended stay-at-home orders to prevent the novel coronavirus spread increased demand from this customer class during the first quarter. Higher demand from the residential class is likely to have 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 $2.54 billion and $1.02, indicating 5.1% and 5.2% 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 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 and EPS Surprise
Eversource Energy Price and EPS Surprise

Eversource Energy price-eps-surprise | Eversource Energy Quote

Earnings ESP: Its Earnings ESP is -0.49%.

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.

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 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 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 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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Consolidated Edison Inc (ED) : Free Stock Analysis Report
 
Eversource Energy (ES) : Free Stock Analysis Report
 
Spire Inc. (SR) : Free Stock Analysis Report
 
NewJersey Resources Corporation (NJR) : Free Stock Analysis Report
 
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