FirstEnergy (FE) to Report Q1 Earnings: What’s in the Cards?

FirstEnergy Corporation


FE

is slated to release

first-quarter 2022

results on Apr 21 after the market closes. The firm delivered a negative earnings surprise of 1.9% in the last reported quarter.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Consider

FirstEnergy’s first-quarter earnings are likely to have benefited from the ongoing cost management initiatives, which, in turn, are expected to have reduced operating and maintenance expenses. Higher demand from the Commercial and Industrial group is expected to have boosted first-quarter earnings.

Expectations

FirstEnergy expects first-quarter earnings in the range of 55-65 cents per share. The Zacks Consensus Estimate for first-quarter earnings is pegged at 60 cents per share, which indicates a decline of 13.04% from the year-ago reported figure.

The Zacks Consensus Estimate for first-quarter sales stands at $2.78 billion, suggesting growth of 1.8% from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict earnings beat for FE this time around. 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, which is not the case here as you will see below.

Earnings ESP

: FirstEnergy has an Earnings ESP of -5.52%. You can uncover the best stocks to buy or sell before they’re reported with our

Earnings ESP Filter

.

Zacks Rank

: Currently, FirstEnergy carries a Zacks Rank #3.

You can see


the complete list of today’s Zacks #1 Rank stocks here


.

Stocks to Consider

Investors can consider the following players from the same

industry

that have the right combination of elements to beat on earnings this reporting cycle.

DTE Energy


DTE

is set to release first-quarter 2022 results on Apr 28. DTE has an Earnings ESP of +15.71% and a Zacks Rank #3.

The long-term (three to five years) earnings growth of DTE Energy is projected at 6%. The Zacks Consensus Estimate for 2022 earnings of DTE Energy is $5.94 per share, which indicates growth of 0.2% from the prior-year quarter.

Edison International


EIX

is set to release first-quarter 2022 results on May 3. EIX has an Earnings ESP of +8.94% and a Zacks Rank #3.

The long-term earnings growth of Edison International is projected at 3.9%. The Zacks Consensus Estimate for 2022 earnings of Edison International is $4.43 per share, which indicates 0.5% growth from the year-ago quarter.

Dominion Energy


D

is set to release first-quarter 2022 results on May 5. D has an Earnings ESP of +1.07% and a Zacks Rank #3.

The long-term earnings growth of Dominion Energy is projected at 6%. The Zacks Consensus Estimate for 2022 earnings of Dominion Energy is $4.12 per share, which indicates 0.2% year-over-year growth.

Stay on top of upcoming earnings announcements with the

Zacks Earnings Calendar

.

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