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Is a Beat in the Cards for Sunoco (SUN) in Q3 Earnings?
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Sunoco LP (SUN - Free Report) is set to report third-quarter 2022 results on Nov 1, before the opening bell.
The master limited partnership’s second-quarter earnings of $1.20 per unit comfortably beat the Zacks Consensus Estimate of $1.14 due to higher motor fuel and non-motor fuel sales.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 35.9%, on average. This is depicted in the graph below:
Let’s delve into the factors that are anticipated to have influenced the partnership’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for its third-quarter earnings per unit of $1.14 has witnessed two upward revisions and no downward movement in the past 30 days. This suggests a year-over-year improvement of 14%.
The Zacks Consensus Estimate for the company’s revenues for the September-end quarter is pegged at $7.6 billion, suggesting a year-over-year rise of 58.5%.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for Sunoco 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. As you can see, that is the case here.
Earnings ESP: Sunoco has an Earnings ESP of +3.51%. This is because the Most Accurate Estimate is pegged at earnings of $1.18 per share, whereas the Zacks Consensus Estimate is pinned at $1.14 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #2.
Factors to Consider
In the September-end quarter, the demand for motor fuel is likely to have improved on the back of a strong economic recovery. Sunoco is expected to have benefited from the development as it is among the largest motor fuel distributors in the U.S. wholesale market by volume.
The Zacks Consensus Estimate for Sunoco’s motor fuel sales in the third quarter is pegged at $7,436 million, suggesting an increase from $4,666 million recorded in the year-ago quarter. Our estimate for the partnership’s motor fuel sales in the third quarter is pegged at $7,440 million, also suggesting an improvement from the year-ago quarter’s reported figure.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Murphy Oil Corporation (MUR - Free Report) currently has an Earnings ESP of +0.79% and a Zacks Rank of 3.
Murphy Oil is scheduled to report third-quarter results on Nov 3. The Zacks Consensus Estimate for MUR’s earnings is pegged at $1.56 per share, suggesting a massive increase from the prior-year reported figure.
Chesapeake Energy Corporation (CHK - Free Report) currently has an Earnings ESP of +0.42% and a Zacks Rank #2.
Chesapeake Energyis scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for CHK’s earnings is pegged at $4.48 per share, suggesting a significant increase from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +0.54% and a Zacks Rank of 3 at present.
Enterprise Products is scheduled to report third-quarter results on Nov 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 61 cents per share, suggesting an increase from the prior-year reported figure.
Image: Bigstock
Is a Beat in the Cards for Sunoco (SUN) in Q3 Earnings?
Sunoco LP (SUN - Free Report) is set to report third-quarter 2022 results on Nov 1, before the opening bell.
The master limited partnership’s second-quarter earnings of $1.20 per unit comfortably beat the Zacks Consensus Estimate of $1.14 due to higher motor fuel and non-motor fuel sales.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 35.9%, on average. This is depicted in the graph below:
Sunoco LP Price and EPS Surprise
Sunoco LP price-eps-surprise | Sunoco LP Quote
Let’s delve into the factors that are anticipated to have influenced the partnership’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for its third-quarter earnings per unit of $1.14 has witnessed two upward revisions and no downward movement in the past 30 days. This suggests a year-over-year improvement of 14%.
The Zacks Consensus Estimate for the company’s revenues for the September-end quarter is pegged at $7.6 billion, suggesting a year-over-year rise of 58.5%.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for Sunoco 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. As you can see, that is the case here.
Earnings ESP: Sunoco has an Earnings ESP of +3.51%. This is because the Most Accurate Estimate is pegged at earnings of $1.18 per share, whereas the Zacks Consensus Estimate is pinned at $1.14 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #2.
Factors to Consider
In the September-end quarter, the demand for motor fuel is likely to have improved on the back of a strong economic recovery. Sunoco is expected to have benefited from the development as it is among the largest motor fuel distributors in the U.S. wholesale market by volume.
The Zacks Consensus Estimate for Sunoco’s motor fuel sales in the third quarter is pegged at $7,436 million, suggesting an increase from $4,666 million recorded in the year-ago quarter. Our estimate for the partnership’s motor fuel sales in the third quarter is pegged at $7,440 million, also suggesting an improvement from the year-ago quarter’s reported figure.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Murphy Oil Corporation (MUR - Free Report) currently has an Earnings ESP of +0.79% and a Zacks Rank of 3.
Murphy Oil is scheduled to report third-quarter results on Nov 3. The Zacks Consensus Estimate for MUR’s earnings is pegged at $1.56 per share, suggesting a massive increase from the prior-year reported figure.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Chesapeake Energy Corporation (CHK - Free Report) currently has an Earnings ESP of +0.42% and a Zacks Rank #2.
Chesapeake Energyis scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for CHK’s earnings is pegged at $4.48 per share, suggesting a significant increase from the prior-year reported figure.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +0.54% and a Zacks Rank of 3 at present.
Enterprise Products is scheduled to report third-quarter results on Nov 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 61 cents per share, suggesting an increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.