FirstEnergy (FE) to Report Q1 Earnings: What's in the Cards?
FirstEnergy Corporation FE is slated to release first-quarter 2022 results on Apr 21 after the market closes. The firm delivered a negative earnings surprise of 1.9% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
FirstEnergy’s first-quarter earnings are likely to have benefited from the ongoing cost management initiatives, which, in turn, are expected to have reduced operating and maintenance expenses. Higher demand from the Commercial and Industrial group is expected to have boosted first-quarter earnings.
Expectations
FirstEnergy expects first-quarter earnings in the range of 55-65 cents per share. The Zacks Consensus Estimate for first-quarter earnings is pegged at 60 cents per share, which indicates a decline of 13.04% from the year-ago reported figure.
The Zacks Consensus Estimate for first-quarter sales stands at $2.78 billion, suggesting growth of 1.8% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict earnings beat for FE 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, which is not the case here as you will see below.
FirstEnergy Corporation Price and EPS Surprise
FirstEnergy Corporation price-eps-surprise | FirstEnergy Corporation Quote
Earnings ESP: FirstEnergy has an Earnings ESP of -5.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, FirstEnergy carries a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
DTE Energy DTE is set to release first-quarter 2022 results on Apr 28. DTE has an Earnings ESP of +15.71% and a Zacks Rank #3.
The long-term (three to five years) earnings growth of DTE Energy is projected at 6%. The Zacks Consensus Estimate for 2022 earnings of DTE Energy is $5.94 per share, which indicates growth of 0.2% from the prior-year quarter.
Edison International EIX is set to release first-quarter 2022 results on May 3. EIX has an Earnings ESP of +8.94% and a Zacks Rank #3.
The long-term earnings growth of Edison International is projected at 3.9%. The Zacks Consensus Estimate for 2022 earnings of Edison International is $4.43 per share, which indicates 0.5% growth from the year-ago quarter.
Dominion Energy D is set to release first-quarter 2022 results on May 5. D has an Earnings ESP of +1.07% and a Zacks Rank #3.
The long-term earnings growth of Dominion Energy is projected at 6%. The Zacks Consensus Estimate for 2022 earnings of Dominion Energy is $4.12 per share, which indicates 0.2% year-over-year growth.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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