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What's in the Cards for NRG Energy's (NRG) Q2 Earnings?

Zacks Equity Research
·3 mins read

NRG Energy, Inc. NRG is scheduled to release second-quarter 2020 results on Aug 6. The company witnessed a negative earnings surprise of 26.67% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Consider

Due to the outbreak of COVID-19 and stay-at-home directives, most people remain confined to their homes. This, in turn, is likely to have increased NRG Energy’s residential load in the second quarter. However, the lockdown already adversely impacted the company’s demand from the commercial and industrial customers group, which might have offset the surge in the residential customers’ load.

Q2 Expectations

The Zacks Consensus Estimate for second-quarter earnings per share is pegged at $1.87, indicating a 167.14% increase from the year-ago reported figure.

What Our Quantitative Model Suggests

Our proven model doesn’t conclusively predict an earnings beat for NRG 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. But that is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.

NRG Energy, Inc. Price and EPS Surprise

NRG Energy, Inc. Price and EPS Surprise
NRG Energy, Inc. Price and EPS Surprise

NRG Energy, Inc. price-eps-surprise | NRG Energy, Inc. Quote

Earnings ESP: NRG Energy has an Earnings ESP of -4.56%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, NRG Energy carries a Zacks Rank #3.

Stocks to Consider

Here are some companies worth considering from the same industry, which according to our model, has the right combination of elements to beat on earnings in the upcoming releases.

WEC Energy Group, Inc. WEC is set to release second-quarter earnings on Aug 4. It has an Earnings ESP of +0.96% and a Zacks Rank #2 at present.

Pinnacle West Capital Corporation PNW is set to release second-quarter earnings on Aug 6. It has an Earnings ESP of +5.07% and a Zacks Rank of 3, currently.

CenterPoint Energy, Inc. CNP is expected to release second-quarter numbers on Aug 6. It has an Earnings ESP of +7.87% and is presently Zacks #3 Ranked.

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WEC Energy Group, Inc. (WEC) : Free Stock Analysis Report
 
CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report
 
Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report
 
NRG Energy, Inc. (NRG) : Free Stock Analysis Report
 
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Zacks Investment Research