NV Energy, Inc. (NYSE:NVE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
NV Energy, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.9% to $0.31 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Decreased 1.23% to $731.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: NV Energy, Inc. reported adjusted EPS income of $0.31 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $693.26 million.
Quoting Management: “During the second quarter, we announced plans to merge with MidAmerican Energy, and the Nevada State Legislature passed a law to reduce reliance on coal plants,” said Michael Yackira, president and chief executive officer of NV Energy, Inc. “As we move forward, we will continue to control costs while keeping an unwavering focus on our top priority: serving our customers with safe, reliable, affordable energy.”
Key Stats (on next page)…
Revenue increased 25.23% from $584.22 million in the previous quarter. EPS increased 244.44% from $0.09 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.91 and has not changed. For the current year, the average estimate has moved up from a profit of $1.3 to a profit of $1.31 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)