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Evergy (EVRG) to Post Q1 Earnings: Here's What You Need to Know
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Evergy (EVRG - Free Report) is scheduled to release first-quarter 2024 results on May 9, before market open. The company delivered a negative earnings surprise of 10% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
The company’s earnings are expected to have benefited from ongoing investments that are targeted toward grid modernization. It is also likely to have gained from energy efficiency programs and cost-saving initiatives.
Evergy’s earnings are likely to have benefited from economic development in its service territories and consequent growth in demand.
However, higher depreciation and interest expenses are likely to have adversely impacted earnings.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 75 cents per share, implying a year-over-year increase of 27.1%.
The Zacks Consensus Estimate for revenues is pinned at $1.31 billion, indicating an increase of 1% from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy this time around. 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. That is not the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is -21.33%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
NiSource (NI - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 8. It has an Earnings ESP of +1.24% and a Zacks Rank #3 at present.
NI’s long-term (three to five years) earnings growth rate is 6%. The Zacks Consensus Estimate for earnings has increased 1.3% in the past 60 days.
Clean Energy Fuels (CLNE - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 9. It has an Earnings ESP of +6.25% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings remained unchanged in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $106.63 million.
Algonquin Power & Utilities (AQN - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 10. It has an Earnings ESP of +2.27% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings has decreased 21% in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $807 million.
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Evergy (EVRG) to Post Q1 Earnings: Here's What You Need to Know
Evergy (EVRG - Free Report) is scheduled to release first-quarter 2024 results on May 9, before market open. The company delivered a negative earnings surprise of 10% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
The company’s earnings are expected to have benefited from ongoing investments that are targeted toward grid modernization. It is also likely to have gained from energy efficiency programs and cost-saving initiatives.
Evergy’s earnings are likely to have benefited from economic development in its service territories and consequent growth in demand.
However, higher depreciation and interest expenses are likely to have adversely impacted earnings.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 75 cents per share, implying a year-over-year increase of 27.1%.
The Zacks Consensus Estimate for revenues is pinned at $1.31 billion, indicating an increase of 1% from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Evergy this time around. 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. 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: The company’s Earnings ESP is -21.33%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Evergy carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
NiSource (NI - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 8. It has an Earnings ESP of +1.24% and a Zacks Rank #3 at present.
NI’s long-term (three to five years) earnings growth rate is 6%. The Zacks Consensus Estimate for earnings has increased 1.3% in the past 60 days.
Clean Energy Fuels (CLNE - Free Report) is likely to come up with an earnings beat when it reports first-quarter earnings on May 9. It has an Earnings ESP of +6.25% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings remained unchanged in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $106.63 million.
Algonquin Power & Utilities (AQN - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 10. It has an Earnings ESP of +2.27% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings has decreased 21% in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $807 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.