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What's in Store for Consolidated Edison (ED) in Q1 Earnings?
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Consolidated Edison Inc. (ED - Free Report) is scheduled to release first-quarter 2020 results on May 7, after market close. In the last reported quarter, the company delivered a positive earnings surprise of 8.86%.
Moreover, in the trailing four quarters, Consolidated Edison beat estimates two times and missed two times, thereby delivering average positive earnings surprise of 0.73%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
In the first quarter, the majority of Consolidated Edison’s service territories witnessed a favorable mix of weather conditions. While warmer-than-normal temperature prevailed for some time in the quarter, there were strong storm activities accompanied with above-normal snowfall. Overall, we expect the weather pattern to have boosted higher electricity demand, which, in turn, must have contributed to the company’s first-quarter revenue growth.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $3.60 billion, which indicates 2.5% increase from the year-ago quarter’s reported figure.
Favorable rate base outcomes in the recent past are expected to have contributed to Consolidated Edison’s quarterly earnings.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.43 per share, which indicates 3.6% increase from the year-ago quarter reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for Consolidated Edison this time around. 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.
Earnings ESP: The company’s Earnings ESP is +0.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few players from the Utilities sector that also have the right combination of elements to post an earnings beat when they report first-quarter 2020 results.
NewJersey Resources (NJR - Free Report) has an Earnings ESP of +3.86% and a Zacks Rank #3. The company will release earnings on May 8.
Algonquin Power & Utilities (AQN - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #2. The company is set to announce results on May 7.
A Recent Utility Release
Public Service Enterprise Group Inc. (PEG - Free Report) reported first-quarter 2020 adjusted operating earnings of $1.03 per share, which came in line with the Zacks Consensus Estimate.
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What's in Store for Consolidated Edison (ED) in Q1 Earnings?
Consolidated Edison Inc. (ED - Free Report) is scheduled to release first-quarter 2020 results on May 7, after market close. In the last reported quarter, the company delivered a positive earnings surprise of 8.86%.
Moreover, in the trailing four quarters, Consolidated Edison beat estimates two times and missed two times, thereby delivering average positive earnings surprise of 0.73%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
In the first quarter, the majority of Consolidated Edison’s service territories witnessed a favorable mix of weather conditions. While warmer-than-normal temperature prevailed for some time in the quarter, there were strong storm activities accompanied with above-normal snowfall. Overall, we expect the weather pattern to have boosted higher electricity demand, which, in turn, must have contributed to the company’s first-quarter revenue growth.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $3.60 billion, which indicates 2.5% increase from the year-ago quarter’s reported figure.
Consolidated Edison Inc Price and EPS Surprise
Consolidated Edison Inc price-eps-surprise | Consolidated Edison Inc Quote
Favorable rate base outcomes in the recent past are expected to have contributed to Consolidated Edison’s quarterly earnings.
The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.43 per share, which indicates 3.6% increase from the year-ago quarter reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for Consolidated Edison this time around. 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.
Earnings ESP: The company’s Earnings ESP is +0.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Consolidated Edison carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are a few players from the Utilities sector that also have the right combination of elements to post an earnings beat when they report first-quarter 2020 results.
NewJersey Resources (NJR - Free Report) has an Earnings ESP of +3.86% and a Zacks Rank #3. The company will release earnings on May 8.
Algonquin Power & Utilities (AQN - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #2. The company is set to announce results on May 7.
A Recent Utility Release
Public Service Enterprise Group Inc. (PEG - Free Report) reported first-quarter 2020 adjusted operating earnings of $1.03 per share, which came in line with the Zacks Consensus Estimate.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>