NextEra (NEE) To Report Q3 Earnings: What's In The Cards?
Zacks Investment Research | Oct 18, 2019 12:03AM ET
NextEra Energy, Inc. (NYSE:NEE) is scheduled to release third-quarter 2019 earnings on Oct 22, 2019, before the market opens. This utility had delivered a positive earnings surprise of 3.07% in the last reported quarter.
Notably, the company delivered average positive earnings surprise of 2.92% in the last four quarters.
Factors to Consider
NextEra’s third-quarter earnings are likely to have benefited from strong Florida economy. Expansion of the customer base is expected to have positively impacted demand and boosted the company’s performance.
During the third quarter, it completed the acquisition of Trans Bay Cable, LLC (TBC) from affiliates of Steelriver Infrastructure Fund North America. This acquisition is likely to have expanded the company’s transmission operations in California.
The conversion of corporate units into equity shares resulted in further dilution of the company’s shares outstanding. This is likely to have adversely impacted its earnings.
The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at $2.18 per share and $5,244 million, respectively. The projected revenues indicate a year-over-year improvement of 18.7%, while the estimated earnings suggest no change from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model predicts that NextEra is unlikely to beat estimates in the to-be-reported quarter. A stock needs to have both a positive Zacks Investment Research
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