Yahoo Finance What's in Store for CenterPoint Energy (CNP) Q3 Earnings?
CenterPoint Energy CNP is scheduled to release third-quarter 2019 results on Nov 7, before the opening bell. In the last reported quarter, the company delivered a positive earnings surprise of 12.9%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
During the third quarter, CenterPoint Energy’s service territories experienced warmer-than-normal weather. This is likely to have increased household expenditure on cooling, which, in turn, might have positively impacted the company’s third-quarter revenues.
Moreover, the company is consistently adding customers to its network since the last few quarters. The trend is likely to have continued in the to-be-reported quarter, which is expected to have boosted the company’s top line. The Zacks Consensus Estimate for third-quarter revenues is pegged at $2.9 billion, which indicates a surge of 31% from the year-ago quarter’s reported figure.
During August, CenterPoint Energy closed $1.2-billion offering of senior notes that is expected to have lowered its interest expenses in the to-be-reported quarter. Moreover, the company is witnessing lower operating expenses for the last two years. This is likely to have contributed to the bottom line in the third quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 43 cents per share, which indicates a rise of 10.3% from the year-ago quarter’s level.
Earnings Whispers
Our proven model predicts an earnings beat for CenterPoint Energy this earnings season. 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 +0.12%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CenterPoint Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
CenterPoint Energy, Inc. Price and EPS Surprise
CenterPoint Energy, Inc. price-eps-surprise | CenterPoint Energy, Inc. Quote
Recent Utility Releases
DTE Energy Company DTE reported third-quarter 2019 earnings of $1.91 per share, which missed the Zacks Consensus Estimate of $2 by 4.5%. The bottom line declined 10.3% from the year-ago quarter’s figure of $2.13.
NorthWestern Corporation NWE reported third-quarter 2019 earnings of 50 cents per share, which lagged the Zacks Consensus Estimate of 63 cents by 20.6%. The bottom line declined 13.8% from the year-ago quarter’s level of 58 cents.
Public Service Enterprise Group PEG reported third-quarter 2019 earnings of 98 cents per share, which surpassed the Zacks Consensus Estimate of 95 cents by 3.16%. The bottom line improved 3.16% from the year-ago quarter’s figure of 95 cents.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report
CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report
DTE Energy Company (DTE) : Free Stock Analysis Report
NorthWestern Corporation (NWE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
