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

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Xcel Energy Inc. XEL is scheduled to release second-quarter 2021 earnings on Jul 29, before market open. The company delivered a trailing four-quarter earnings surprise of 8.20%, on average.

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

Factors at Play

Xcel Energy is likely to have witnessed consistent growth from the residential space during the to-be-reported quarter. The company is expected to have benefited from additional demand from the ongoing increase in its electric and natural gas customer count.

New rates coming into effect and focus on expense control are expected to support the upcoming results.

Projections

The Zacks Consensus Estimate for second-quarter 2021 sales is pegged at $2.84 billion, indicating 9.92% growth from the year-ago quarter’s reported figure. The consensus estimate for second-quarter earnings per share stands at 56 cents, implying a 3.70% rise from the year-earlier quarter’s reported number.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for Xcel 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, which is the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

Xcel Energy Inc. Price and EPS Surprise

Xcel Energy Inc. Price and EPS Surprise
Xcel Energy Inc. Price and EPS Surprise

Xcel Energy Inc. price-eps-surprise | Xcel Energy Inc. Quote

Earnings ESP: Xcel Energy has an Earnings ESP of +0.45%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, Xcel Energy 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 beat on earnings this reporting cycle.

NorthWestern Corporation NWE is set to release second-quarter 2021 results on Jul 27. It has an Earnings ESP of +2.27% and a Zacks Rank of 3, currently.

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 #2 at present.

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, currently.


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

NorthWestern Corporation (NWE) : Free Stock Analysis Report

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