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What Awaits NextEra Energy Partners (NEP) in Q3 Earnings?
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NextEra Energy Partners (NEP - Free Report) is scheduled to release third-quarter 2022 earnings on Oct 28, before market open. The firm delivered an earnings surprise of 770% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
NextEra Energy partners’ accretive acquisitions from Energy Resources and long-term contracted renewable assets are likely to have boosted third-quarter earnings.
NextEra Energy enjoys structural tax advantages. Its cost management expertise is likely to have contributed to its third-quarter earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 63 cents per unit, indicating a rise of 162.4% from the year-ago reported figure.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $391.4 million, indicating a rise of 56.4% from the year-ago reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy Partners this time. 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, which is not the case here as you will see below.
NextEra Energy Partners, LP Price and EPS Surprise
Earnings ESP: NextEra Energy Partners has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider the following players from the same industry who have the right combination of elements to beat earnings in their upcoming releases.
HF Sinclair Corporation (DINO - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 7 before market open. HF Sinclair has an Earnings ESP of +1.17% and sports a Zacks Rank #1 at present.
Gevo Inc. (GEVO - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 8. Gevo has an Earnings ESP of +21.05% and sports a Zacks Rank #1 at present.
Altus Power, Inc. (AMPS - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 14, before market open. Altus Power has an Earnings ESP of +100% and carries a Zacks Rank #3 at present.
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What Awaits NextEra Energy Partners (NEP) in Q3 Earnings?
NextEra Energy Partners (NEP - Free Report) is scheduled to release third-quarter 2022 earnings on Oct 28, before market open. The firm delivered an earnings surprise of 770% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
NextEra Energy partners’ accretive acquisitions from Energy Resources and long-term contracted renewable assets are likely to have boosted third-quarter earnings.
NextEra Energy enjoys structural tax advantages. Its cost management expertise is likely to have contributed to its third-quarter earnings.
Expectations
The Zacks Consensus Estimate for third-quarter earnings is pegged at 63 cents per unit, indicating a rise of 162.4% from the year-ago reported figure.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $391.4 million, indicating a rise of 56.4% from the year-ago reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy Partners this time. 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, which is not the case here as you will see below.
NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote
Earnings ESP: NextEra Energy Partners has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NEP carries a Zacks Rank #2. 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 who have the right combination of elements to beat earnings in their upcoming releases.
HF Sinclair Corporation (DINO - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 7 before market open. HF Sinclair has an Earnings ESP of +1.17% and sports a Zacks Rank #1 at present.
Gevo Inc. (GEVO - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 8. Gevo has an Earnings ESP of +21.05% and sports a Zacks Rank #1 at present.
Altus Power, Inc. (AMPS - Free Report) is likely to come up with an earnings beat when it reports third-quarter results on Nov 14, before market open. Altus Power has an Earnings ESP of +100% and carries a Zacks Rank #3 at present.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.