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NextEra Energy (NEE) to Post Q1 Earnings: What's in Store?

NextEra Energy, Inc. NEE is scheduled to release first-quarter 2024 results on Apr 23, before market open. The utility delivered an average earnings surprise of 8.4% in the last four reported quarters.

Let’s discuss the factors likely to be reflected in the upcoming quarterly results.

Factors to Note

Courtesy of NextEra Energy’s arm Florida Power Light’s customer focus investment decision and Florida being among the fastest growing states in the United States, the company is adding new customers every quarter, which is boosting demand and revenues.

NEE has created a strong renewable energy business at Energy Resources and stable performance of this division is expected to have boosted earnings in the first quarter.

Expectations

The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at 77 cents per share and $6.47 billion, indicating a decline of 8.3% and 3.7% from the year-ago levels, respectively.

What Our Quantitative Model Predicts

Our proven model predicts a likely 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. That is the case here, as elaborated below.

NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. Price and EPS Surprise
NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote

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Earnings ESP: NEE’s Earnings ESP is +2.60%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, NEE carries a Zacks Rank #3.

Other Stocks to Consider

Investors can consider the following players from the same industry that also have the right combination of elements to beat on earnings this reporting cycle.

Entergy Corporation ETR is likely to come up with an earnings beat when it reports first-quarter earnings on Apr 24. It has an Earnings ESP of +5.71% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

ETR’s long-term (three-to-five years) earnings growth rate is 7.01%. The Zacks Consensus Estimate for first-quarter 2024 earnings per share has moved up by 5.3% in the past 60 days.

PG&E Corporation PCG is likely to come up with an earnings beat when it reports first-quarter earnings on Apr 25. It has an Earnings ESP of +4.72% and has a Zacks Rank #3 at present.

The Zacks Consensus Estimate for PCG’s first-quarter earnings suggests growth of 20.7% from the prior-year actuals. It delivered an earnings surprise of 4.4% in the last reported quarter.

PPL Corporation PPL is likely to pull off an earnings beat when it reports first-quarter 2024 earnings on May 1. It has an Earnings ESP of +0.98% and a Zacks Rank #3 at present.

PPL’ s long-term earnings growth rate is 6.5%. The Zacks Consensus Estimate for first-quarter 2024 earnings per share has moved up by 2% in the past 60 days

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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PPL Corporation (PPL) : Free Stock Analysis Report

NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

Entergy Corporation (ETR) : Free Stock Analysis Report

Pacific Gas & Electric Co. (PCG) : Free Stock Analysis Report

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