From Nasdaq MarketSite: 2024-05-01 09:03:00

The Zacks Utilities sector is expected to see a 4.4% increase in first-quarter 2024 earnings with 1.3% higher revenues due to new rates and cost management. NextEra Energy has reported a positive earnings surprise, while Eversource Energy, Ameren Corporation, The AES Corporation, and NiSource Inc. are expected to beat estimates thanks to a positive Earnings ESP and favorable Zacks Rank.

Eversource Energy is projected to see a 2.84% increase in first-quarter earnings, with an Earnings ESP of +2.76% and a Zacks Rank #2. Ameren Corporation expects a 9% increase in EPS, with an Earnings ESP of +0.30% and a Zacks Rank #3. The AES Corporation anticipates a 36.4% rise in earnings, with an Earnings ESP of +6.67% and a Zacks Rank #3. NiSource Inc. is expected to see a 5.2% increase in earnings, with an Earnings ESP of +1.24% and a Zacks Rank #3.

Investing in the capital-intensive utilities sector has led to increased reliability and lower costs for customers. Companies are implementing cost-saving initiatives and investing in new technologies and renewable energy sources to improve operations and lower costs, resulting in stable earnings and better performance overall.



Read more at Nasdaq MarketSite:: 4 Utilities Set to Outperform Estimates This Earnings Season