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Evergy (EVRG) to Post Q2 Earnings: Here's What You Need to Know
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Evergy (EVRG - Free Report) is scheduled to release second-quarter 2024 results on Aug 9, before market open. The company delivered a negative earnings surprise of 11.5% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
In April 2024, Evergy Missouri West purchased a joint ownership interest, representing nearly 145 megawatts in Dogwood Energy Center, an operational natural gas combined cycle facility in Missouri. This is likely to have boosted the company’s quarterly revenues.
Earnings are expected to have benefited from ongoing investments that are targeted toward grid modernization. The bottom line is likely to have gained from energy efficiency programs and cost-saving initiatives. It is also projected to have continued to benefit from economic development in its service territories and consequent growth in demand.
However, during the second quarter, some of the company’s service territories experienced outages due to severe storms. This might have had a negative impact on EVRG’s quarterly earnings. Higher depreciation and interest expenses are likely to have adversely impacted the bottom line.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 99 cents per share, implying a year-over-year increase of 22.2%.
The Zacks Consensus Estimate for revenues is pinned at $1.32 billion, indicating a decrease of 2.3% 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 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following player from the same industry as it has the right combination of elements to post an earnings beat this reporting cycle.
Algonquin Power & Utilities (AQN - Free Report) is likely to come up with an earnings beat when it reports second-quarter earnings on Aug 9. It has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for earnings has decreased 11.1% in the past 30 days. The Zacks Consensus Estimate for sales is pinned at $625 million, indicating a year-over-year decline of 0.5%.
Recent Releases
Eversource Energy (ES - Free Report) reported second-quarter 2024 adjusted earnings of 95 cents per share, in line with the Zacks Consensus Estimate.
ES’ long-term (three to five years) earnings growth rate is 5.73%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 5.1%.
Exelon Corporation’s (EXC - Free Report) second-quarter 2024 earnings of 47 cents per share surpassed the Zacks Consensus Estimate of 40 cents by 17.5%.
EXC’s long-term earnings growth rate is 5.66%. It delivered an average earnings surprise of 4.5% in the trailing four quarters.
Image: Bigstock
Evergy (EVRG) to Post Q2 Earnings: Here's What You Need to Know
Evergy (EVRG - Free Report) is scheduled to release second-quarter 2024 results on Aug 9, before market open. The company delivered a negative earnings surprise of 11.5% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
In April 2024, Evergy Missouri West purchased a joint ownership interest, representing nearly 145 megawatts in Dogwood Energy Center, an operational natural gas combined cycle facility in Missouri. This is likely to have boosted the company’s quarterly revenues.
Earnings are expected to have benefited from ongoing investments that are targeted toward grid modernization. The bottom line is likely to have gained from energy efficiency programs and cost-saving initiatives. It is also projected to have continued to benefit from economic development in its service territories and consequent growth in demand.
However, during the second quarter, some of the company’s service territories experienced outages due to severe storms. This might have had a negative impact on EVRG’s quarterly earnings. Higher depreciation and interest expenses are likely to have adversely impacted the bottom line.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 99 cents per share, implying a year-over-year increase of 22.2%.
The Zacks Consensus Estimate for revenues is pinned at $1.32 billion, indicating a decrease of 2.3% 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 0.00%. 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 #2. You can see the complete list of today's Zacks #1 Rank stocks here.
An Upcoming Release
Investors may consider the following player from the same industry as it has the right combination of elements to post an earnings beat this reporting cycle.
Algonquin Power & Utilities (AQN - Free Report) is likely to come up with an earnings beat when it reports second-quarter earnings on Aug 9. It has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for earnings has decreased 11.1% in the past 30 days. The Zacks Consensus Estimate for sales is pinned at $625 million, indicating a year-over-year decline of 0.5%.
Recent Releases
Eversource Energy (ES - Free Report) reported second-quarter 2024 adjusted earnings of 95 cents per share, in line with the Zacks Consensus Estimate.
ES’ long-term (three to five years) earnings growth rate is 5.73%. The Zacks Consensus Estimate for 2024 earnings indicates a year-over-year increase of 5.1%.
Exelon Corporation’s (EXC - Free Report) second-quarter 2024 earnings of 47 cents per share surpassed the Zacks Consensus Estimate of 40 cents by 17.5%.
EXC’s long-term earnings growth rate is 5.66%. It delivered an average earnings surprise of 4.5% in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.