We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
New Customers, Florida Economy to Aid NextEra (NEE) Q3 Earnings
Read MoreHide Full Article
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2023 results on Oct 24, before market open. The utility delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra’s third-quarter results are likely to reflect the benefits of an improvement in Florida’s economic conditions. Florida Power & Light Company (FPL) is expected to significantly contribute to total revenues in the third quarter, like in the previous quarters. The anticipated increase in FPL’s customer base in the third quarter is likely to have a positive impact on NEE’s performance.
Contributions from ongoing investments in FPL and NextEra Energy Resources are likely to contribute to third-quarter results. The company’s cost management efforts are also expected to have boosted results in the quarter to be reported.
NextEra Energy Resources is anticipated to have another strong quarter of renewables. The addition of more renewable assets is going to boost overall operations.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 86 cents per share and $7.4 billion, respectively. Revenues and earnings per share estimates indicate year-over-year growth of 10.4% and 1.2%, respectively.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for NextEra this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here, as elaborated below.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra 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.
The Zacks Consensus Estimate for 2023 earnings of WEC is $4.61 per share, which indicates year-over-year growth of 3.6%.
NRG Energy (NRG - Free Report) is likely to beat earnings estimates when it releases third-quarter 2023 results. NRG has an Earnings ESP of +8.12% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of NRG Energy is $4.51 per share, which indicates year-over-year growth of 72.14%.
Entergy (ETR - Free Report) is set to release third-quarter 2023 results on Nov 1. ETR has an Earnings ESP of +4.19% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of Entergy is $6.71 per share, which indicates year-over-year growth of 4.52%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
New Customers, Florida Economy to Aid NextEra (NEE) Q3 Earnings
NextEra Energy, Inc. (NEE - Free Report) is scheduled to release its third-quarter 2023 results on Oct 24, before market open. The utility delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Note
NextEra’s third-quarter results are likely to reflect the benefits of an improvement in Florida’s economic conditions. Florida Power & Light Company (FPL) is expected to significantly contribute to total revenues in the third quarter, like in the previous quarters. The anticipated increase in FPL’s customer base in the third quarter is likely to have a positive impact on NEE’s performance.
Contributions from ongoing investments in FPL and NextEra Energy Resources are likely to contribute to third-quarter results. The company’s cost management efforts are also expected to have boosted results in the quarter to be reported.
NextEra Energy Resources is anticipated to have another strong quarter of renewables. The addition of more renewable assets is going to boost overall operations.
Expectations
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 86 cents per share and $7.4 billion, respectively. Revenues and earnings per share estimates indicate year-over-year growth of 10.4% and 1.2%, respectively.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for NextEra this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here, as elaborated below.
NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra 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.
WEC Energy Group (WEC - Free Report) is likely to beat earnings estimates when it releases third-quarter 2023 results. WEC has an Earnings ESP of +4.19% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for 2023 earnings of WEC is $4.61 per share, which indicates year-over-year growth of 3.6%.
NRG Energy (NRG - Free Report) is likely to beat earnings estimates when it releases third-quarter 2023 results. NRG has an Earnings ESP of +8.12% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of NRG Energy is $4.51 per share, which indicates year-over-year growth of 72.14%.
Entergy (ETR - Free Report) is set to release third-quarter 2023 results on Nov 1. ETR has an Earnings ESP of +4.19% and a Zacks Rank #3.
The Zacks Consensus Estimate for 2023 earnings of Entergy is $6.71 per share, which indicates year-over-year growth of 4.52%.