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Evergy (EVRG) to Report Q1 Earnings: What's in the Offing?
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Evergy Inc. (EVRG - Free Report) is slated to release first-quarter 2023 financial results on May 5, before market open. Evergy’s earnings per share in the last reported quarter were 36.4% better than expected.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
Evergy’s first-quarter earnings are expected to have benefited from its cost-savings initiatives, which are likely to have reduced its Operating and Maintenance expenses. Higher transmission revenues are likely to have boosted first-quarter’s performance.
However, higher interest expenses, a return to normal weather and an increase in depreciation and amortization expenses are likely to offset some positives.
Expectations
The Zacks Consensus Estimate for first-quarter 2023 earnings per share is pegged at 61 cents, indicating an increase of 5.2% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $1.18 billion, indicating a decline of 3.73% from the year-ago quarter’s reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy this time. 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. That is not the case here, as you will see below.
Earnings ESP: Evergy 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, EVRG carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players that have the right combination of elements to beat earnings in this reporting cycle.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term (three- to five-year) earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present.
PPL’s long-term earnings growth rate is pegged at 7.42%. The Zacks Consensus Estimate for PPL’s 2023 earnings is pinned at $1.58 per share, indicating year-over-year growth of 12.06%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The 2023 bottom-line estimate for BEP is pegged at a loss of 3 cents per unit, implying year-over-year growth of 95%.
Image: Bigstock
Evergy (EVRG) to Report Q1 Earnings: What's in the Offing?
Evergy Inc. (EVRG - Free Report) is slated to release first-quarter 2023 financial results on May 5, before market open. Evergy’s earnings per share in the last reported quarter were 36.4% better than expected.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
Evergy’s first-quarter earnings are expected to have benefited from its cost-savings initiatives, which are likely to have reduced its Operating and Maintenance expenses. Higher transmission revenues are likely to have boosted first-quarter’s performance.
However, higher interest expenses, a return to normal weather and an increase in depreciation and amortization expenses are likely to offset some positives.
Expectations
The Zacks Consensus Estimate for first-quarter 2023 earnings per share is pegged at 61 cents, indicating an increase of 5.2% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $1.18 billion, indicating a decline of 3.73% from the year-ago quarter’s reported figure.
What the Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy this time. 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. That is not the case here, as you will see below.
Evergy Inc. Price and EPS Surprise
Evergy Inc. price-eps-surprise | Evergy Inc. Quote
Earnings ESP: Evergy 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, EVRG carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players that have the right combination of elements to beat earnings in this reporting cycle.
Eversource Energy (ES - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 3, after market close. It has an Earnings ESP of +0.49% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ES’ long-term (three- to five-year) earnings growth rate is pegged at 6.34%. The Zacks Consensus Estimate for the company’s 2023 earnings is pinned at $4.36 per share, indicating a year-over-year increase of 6.6%.
PPL Corporation (PPL - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +7.69% and a Zacks Rank #3 at present.
PPL’s long-term earnings growth rate is pegged at 7.42%. The Zacks Consensus Estimate for PPL’s 2023 earnings is pinned at $1.58 per share, indicating year-over-year growth of 12.06%.
Brookfield Renewable Partners (BEP - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +115.39% and a Zacks Rank #3 at present.
The 2023 bottom-line estimate for BEP is pegged at a loss of 3 cents per unit, implying year-over-year growth of 95%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.