NextEra Energy, Inc. NEE is scheduled to release third-quarter 2021 results on Oct 20, before the market opens. This utility delivered an earnings surprise of 5.97% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
NextEra Energy’s third-quarter performance will likely reflect the benefits from an improvement in Florida’s economic conditions after the rollout of vaccines. Its consistent investment in technology, which has been improving reliability but keeping utility bills lower than the national average, is likely to have added more customers to its Florida Power and Light unit as well as positively impacted demand in the third quarter.
NextEra Energy completed the SolarTogether program in the second quarter, which added new solar plants to its generation portfolio. This is likely to have had a positive impact on its third-quarter performance.
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 72 cents per share and $5.73 billion, respectively. The projected revenues and earnings indicate an improvement of 7.5% and 19.7%, respectively, from the year-ago reported figures.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NextEra Energy this time around. 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.
NextEra Energy, Inc. Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is -0.84%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.
AVANGRID Inc. AGR is set to release third-quarter 2021 results on Oct 26. It has an Earnings ESP of +8.55% and a Zacks Rank #3.
Edison International EIX is set to release third-quarter 2021 results on Nov 2. It has an Earnings ESP of +0.4% and a Zacks Rank of 3.
Southern Company SO is set to release third-quarter 2021 results on Nov 4. It has an Earnings ESP of +1.65% and a Zacks Rank #3.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.