Yahoo Finance NRG Energy (NRG) to Report Q1 Earnings: What's in Store?
NRG Energy, Inc. NRG is scheduled to release first-quarter 2024 results on May 7, before market open. The company delivered an earnings surprise of 21.3% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
NRG’s focus on Vivint Smart Home integration is expected to have increased margin per customer through higher take rate of products and services. This initiative is likely to have benefited its top line in the to-be-reported quarter.
The company is projected to have gained from the ongoing share repurchases that might have reduced its outstanding shares and improved earnings. NRG Energy’s continued debt reduction initiatives must have lowered capital financing expenses and boosted earnings in the to-be-reported quarter.
During the fourth quarter of 2023, the company completed the sale of its interest in the South Texas Project. This is expected to have provided additional funds to help repay debts and buyback shares during the first quarter.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 51 cents per share, implying a year-over-year decrease of 40.7%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for NRG Energy 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.
NRG Energy, Inc. Price and EPS Surprise
NRG Energy, Inc. price-eps-surprise | NRG Energy, Inc. Quote
Earnings ESP: The company’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, NRG Energy carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
NiSource NI is likely to come up with an earnings beat when it reports first-quarter 2024 earnings on May 8. It has an Earnings ESP of +1.24% and a Zacks Rank #3 at present.
NI’s long-term (three to five years) earnings growth rate is 6%. The Zacks Consensus Estimate for earnings has increased 1.3% in the past 60 days.
Clean Energy Fuels CLNE is likely to come up with an earnings beat when it reports first-quarter earnings on May 9. It has an Earnings ESP of +6.25% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings remained unchanged in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $106.63 million.
Algonquin Power & Utilities AQN is likely to come up with an earnings beat when it reports first-quarter results on May 10. It has an Earnings ESP of +2.27% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for first-quarter earnings has decreased 21% in the past 60 days. The Zacks Consensus Estimate for sales is pinned at $807 million.
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
NiSource, Inc (NI) : Free Stock Analysis Report
NRG Energy, Inc. (NRG) : Free Stock Analysis Report
Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report
Algonquin Power & Utilities Corp. (AQN) : Free Stock Analysis Report
