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Eversource Energy ES is slated to release third-quarter 2020 financial results on Nov 4. The utility delivered an earnings surprise of 1.3% 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 third-quarter earnings are expected to have benefited from regulatory commission-approved distribution revenue decoupling mechanisms. Strong demand from residential customers is expected to have offset the slow recovery of demand from industrial and commercial customers in the to-be-reported quarter.
The storms that lashed Eversource’s service territories during the third quarter disrupted operations and are likely to have hurt its performance.
The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $2.27 billion and $1.02, indicating 4.1% and 4.08% growth, respectively, from the year-ago reported figures.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
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.
Earnings ESP: Its Earnings ESP is -1.06%.
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 #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Pampa Energia SA PAM is likely release third-quarter 2020 results soon. It has an Earnings ESP of +1,537.50% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Pinnacle West Capital Corporation PNW is slated to release third-quarter 2020 results on Oct 30. It has an Earnings ESP of +0.98% and a Zacks Rank #3.
NiSource Inc. NI is slated to release third-quarter 2020 results on Nov 2. It has an Earnings ESP of +150.00% and a Zacks Rank #3.
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Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report
NiSource, Inc (NI) : Free Stock Analysis Report
Pampa Energia S.A. (PAM) : Free Stock Analysis Report
Eversource Energy (ES) : Free Stock Analysis Report
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