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What's in Store for Consolidated Edison (ED) in Q1 Earnings?

Consolidated Edison Inc. ED is scheduled to release first-quarter 2020 results on May 7, after market close. In the last reported quarter, the company delivered a positive earnings surprise of 8.86%.

Moreover, in the trailing four quarters, Consolidated Edison beat estimates two times and missed two times, thereby delivering average positive earnings surprise of 0.73%.

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

Factors to Consider

In the first quarter, the majority of Consolidated Edison’s service territories witnessed a favorable mix of weather conditions. While warmer-than-normal temperature prevailed for some time in the quarter, there were strong storm activities accompanied with above-normal snowfall. Overall, we expect the weather pattern to have boosted higher electricity demand, which, in turn, must have contributed to the company’s first-quarter revenue growth.

The Zacks Consensus Estimate for first-quarter revenues is pegged at $3.60 billion, which indicates 2.5% increase from the year-ago quarter’s reported figure.

Consolidated Edison Inc Price and EPS Surprise

Consolidated Edison Inc Price and EPS Surprise
Consolidated Edison Inc Price and EPS Surprise

Consolidated Edison Inc price-eps-surprise | Consolidated Edison Inc Quote

Favorable rate base outcomes in the recent past are expected to have contributed to Consolidated Edison’s quarterly earnings.

The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.43 per share, which indicates 3.6% increase from the year-ago quarter reported figure.

Earnings Whispers

Our proven model predicts an earnings beat for Consolidated Edison 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.

Earnings ESP: The company’s Earnings ESP is +0.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Consolidated Edison carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Here are a few players from the Utilities sector that also have the right combination of elements to post an earnings beat when they report first-quarter 2020 results.

NewJersey Resources NJR has an Earnings ESP of +3.86% and a Zacks Rank #3. The company will release earnings on May 8.

Algonquin Power & Utilities AQN has an Earnings ESP of +1.59% and a Zacks Rank #2. The company is set to announce results on May 7.

A Recent Utility Release

Public Service Enterprise Group Inc. PEG reported first-quarter 2020 adjusted operating earnings of $1.03 per share, which came in line with the Zacks Consensus Estimate.

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Consolidated Edison Inc (ED) : Free Stock Analysis Report
 
Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report
 
NewJersey Resources Corporation (NJR) : Free Stock Analysis Report
 
Algonquin Power & Utilities Corp. (AQN) : Free Stock Analysis Report
 
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