Eversource (ES) to Report Q3 Earnings: What’s in the Offing?

We expect Eversource Energy ES to beat third-quarter 2019 estimates when it reports financial results on Nov 6, before the opening bell. The utility delivered a positive earnings surprise of 1.37% in the last reported quarter.

What Our Quantitative Model Predicts

Our proven model does conclusively predict an earnings beat for Eversource this season. 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 the case here as you will see below.

Earnings ESP: The firm’s Earnings ESP is +1.06%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Eversource currently carries a Zacks Rank #2.

Factors to Consider

Eversource’s third-quarter earnings are expected to have benefited from New Hampshire’s temporary distribution rate increase that came into effect during the third quarter. Earnings are also anticipated to get a boost from the water distribution segment and cost-saving initiatives undertaken by the company. However, the Yankee Gas settlement is likely to have had a negative impact of 2 cents on third-quarter earnings.

The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $2.32 billion and 94 cents, indicating 2.04% and 1.08% growth, respectively, from the year-ago reported figures.

Stocks to Consider

Here are a few companies worth considering from the same industry, as these have the right combination of elements to beat on earnings in the upcoming releases.

PPL Corporation PPL is expected to release third-quarter results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

South Jersey Industries Inc. SJI is expected to release third-quarter results on Nov 6. It has an Earnings ESP of +15.85% and a Zacks Rank #3.

Spire Inc. SR is scheduled to release fourth-quarter fiscal 2019 results on Nov 20. It has an Earnings ESP of +2.55% and a Zacks Rank of 2.

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