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Eversource Energy (ES) to Post Q2 Earnings: What's in Store?
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Eversource Energy (ES - Free Report) is scheduled to release second-quarter 2024 results on Jul 31, after market close. The company delivered an earnings surprise of 2.8% 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 weather in Eversource Energy’s service areas was warmer than usual in the second quarter. A rise in power usage for cooling purposes must have contributed positively to the quarterly performance.
The bottom line is expected to have gained from increased investments in electric distribution and transmission and natural gas distribution, which also enhanced service reliability. Lower operation and maintenance expenses and lower effective tax rates are likely to have had a positive impact on earnings.
However, higher depreciation and property taxes from increased investment and higher interest expenses are anticipated to have negatively impacted the company’s overall quarterly performance.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 97 cents per share, indicating a year-over-year decrease of 3%.
The Zacks Consensus Estimate for revenues is pinned at $2.61 billion, implying a year-over-year decline of 0.8%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Eversource Energy 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 -0.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few promising players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
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Eversource Energy (ES) to Post Q2 Earnings: What's in Store?
Eversource Energy (ES - Free Report) is scheduled to release second-quarter 2024 results on Jul 31, after market close. The company delivered an earnings surprise of 2.8% 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 weather in Eversource Energy’s service areas was warmer than usual in the second quarter. A rise in power usage for cooling purposes must have contributed positively to the quarterly performance.
The bottom line is expected to have gained from increased investments in electric distribution and transmission and natural gas distribution, which also enhanced service reliability. Lower operation and maintenance expenses and lower effective tax rates are likely to have had a positive impact on earnings.
However, higher depreciation and property taxes from increased investment and higher interest expenses are anticipated to have negatively impacted the company’s overall quarterly performance.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 97 cents per share, indicating a year-over-year decrease of 3%.
The Zacks Consensus Estimate for revenues is pinned at $2.61 billion, implying a year-over-year decline of 0.8%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Eversource Energy 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.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Earnings ESP: The company’s Earnings ESP is -0.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Eversource Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few promising players from the same industry that have the right combination of elements to come up with an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.