Exelon (EXC) to Report Q1 Earnings: What's in the Offing?
Exelon Corporation EXC is expected to release first-quarter 2022 earnings on May 9. This utility delivered an average negative earnings surprise of 30.47% for the last four reported quarters.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Exelon’s first-quarter earnings are likely to have benefited from new rates effective in service territories of its unit, Commonwealth Edison, PECO Energy Company and Atlantic City Electric, from Jan 1, 2022.
Exelon’s first-quarter earnings are likely to have gained from cost discipline, strong demand from commercial and industrial customers, and decoupled distribution rates, which reduce volumetric risk.
The Zacks Consensus Estimate for first-quarter revenues and earnings per share is pegged at $4.5 billion and 66 cents, respectively. The bottom-line projection indicates a whopping increase of 1,200% from the year-ago quarter, while the top-line estimate suggests a 54.3% year-over-year decline.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Exelon this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below. You can see the complete list of today's Zacks #1 Rank stocks here.
Exelon Corporation Price and EPS Surprise
Exelon Corporation price-eps-surprise | Exelon Corporation Quote
Earnings ESP: Exelon’s Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Exelon carries a Zacks Rank #3.
Stocks to Consider
Investors can consider another player from the same industry that has the right combination of elements to post an earnings beat in the to-be-reported quarter.
Atlantica Sustainable Infrastructure plc AY is likely to come up with an earnings beat when it reports first-quarter results. AY has an Earnings ESP of +62.50% and a Zacks Rank of #3 at present. The Zacks Consensus Estimate for AY’s 2022 and 2023 EPS indicates 315.4% and 30.4% year-over-year growth, respectively.
NextEra Energy NEE reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%.
NextEra Energy’s long-term (three to five years) earnings growth is currently pegged at 8.82%. The Zacks Consensus Estimate for NEE’s 2022 and 2023 EPS indicates 10.2% and 8.5% year-over-year growth, respectively.
Entergy Corporation ETR reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%.
Entergy’s long-term (three to five years) earnings growth is currently pegged at 6.07%. The Zacks Consensus Estimate for ETR’s 2022 and 2023 EPS indicates 5.3% and 6.7% year-over-year growth, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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
Exelon Corporation (EXC) : Free Stock Analysis Report
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
Entergy Corporation (ETR) : Free Stock Analysis Report
Atlantica Yield PLC (AY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research