We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Factors to Pay Attention to Ahead of MPLX Q4 Earnings Release
Read MoreHide Full Article
MPLX LP (MPLX - Free Report) is set to report fourth-quarter 2022 results on Jan 31, before the opening bell.
In the last reported quarter, MPLX surpassed the Zacks Consensus Estimate thanks to higher contributions from logistics and storage operations, and the gathering and processing business. It beat the consensus estimate in all the prior four quarters, the average earnings surprise being 6.6%. This is depicted in the graph below:
The Zacks Consensus Estimate for fourth-quarter earnings per share of 84 cents has witnessed two downward revisions over the past seven days. The estimated figure suggests an improvement of 7.7% from the prior-year reported number.
The consensus estimate for fourth-quarter revenues of $2.5 billion indicates a 6.9% fall from the year-ago reported figure.
Factors to Consider
In the December quarter of 2022, the pricing scenario of both oil and natural gas was healthier year over year. A favorable environment for exploration and production activities is likely to have aided upstream activities, increasing production.
Higher production volumes are expected to have increased demand for transportation and storage assets, thereby favoring midstream players like MPLX. The Zacks Consensus Estimate for segment income from operations from Gathering and Processing activities is pegged at $308 million, suggesting an improvement from $306 million reported a year ago. Our estimate for the metric is $308.5 million, indicating a year-over-year rise.
However, declining average tariff rates from crude oil pipelines might have hurt the bottom line.
Earnings Whispers
Our proven model does not indicate an earnings beat for MPLX 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. That is not the case here, as you will see below.
Earnings ESP: The partnership’s Earnings ESP is -0.87%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: MPLX currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Enterprise is scheduled to release fourth-quarter results on Feb 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 60 cents per share, suggesting an increase of 15.4% from the prior-year reported figure.
ConocoPhillips (COP - Free Report) has an Earnings ESP of +0.67% and a Zacks Rank of 3.
ConocoPhillips is scheduled to report fourth-quarter results on Feb 02. The Zacks Consensus Estimate for its earnings is pegged at $2.72 per share, suggesting a significant increase from the prior-year reported figure.
PBF Energy (PBF - Free Report) has an Earnings ESP of +9.17% and a Zacks Rank #3.
PBF Energy is scheduled to release fourth-quarter earnings on Feb 16. The Zacks Consensus Estimate for PBF’s earnings is pegged at $4.49 per share, suggesting a massive increase from the prior-year reported figure.
Image: Bigstock
Factors to Pay Attention to Ahead of MPLX Q4 Earnings Release
MPLX LP (MPLX - Free Report) is set to report fourth-quarter 2022 results on Jan 31, before the opening bell.
In the last reported quarter, MPLX surpassed the Zacks Consensus Estimate thanks to higher contributions from logistics and storage operations, and the gathering and processing business. It beat the consensus estimate in all the prior four quarters, the average earnings surprise being 6.6%. This is depicted in the graph below:
MPLX LP Price and EPS Surprise
MPLX LP price-eps-surprise | MPLX LP Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for fourth-quarter earnings per share of 84 cents has witnessed two downward revisions over the past seven days. The estimated figure suggests an improvement of 7.7% from the prior-year reported number.
The consensus estimate for fourth-quarter revenues of $2.5 billion indicates a 6.9% fall from the year-ago reported figure.
Factors to Consider
In the December quarter of 2022, the pricing scenario of both oil and natural gas was healthier year over year. A favorable environment for exploration and production activities is likely to have aided upstream activities, increasing production.
Higher production volumes are expected to have increased demand for transportation and storage assets, thereby favoring midstream players like MPLX. The Zacks Consensus Estimate for segment income from operations from Gathering and Processing activities is pegged at $308 million, suggesting an improvement from $306 million reported a year ago. Our estimate for the metric is $308.5 million, indicating a year-over-year rise.
However, declining average tariff rates from crude oil pipelines might have hurt the bottom line.
Earnings Whispers
Our proven model does not indicate an earnings beat for MPLX 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. That is not the case here, as you will see below.
Earnings ESP: The partnership’s Earnings ESP is -0.87%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: MPLX currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Enterprise Products Partners (EPD - Free Report) has an Earnings ESP of +1.95% and is a Zacks #3 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Enterprise is scheduled to release fourth-quarter results on Feb 1. The Zacks Consensus Estimate for EPD’s earnings is pegged at 60 cents per share, suggesting an increase of 15.4% from the prior-year reported figure.
ConocoPhillips (COP - Free Report) has an Earnings ESP of +0.67% and a Zacks Rank of 3.
ConocoPhillips is scheduled to report fourth-quarter results on Feb 02. The Zacks Consensus Estimate for its earnings is pegged at $2.72 per share, suggesting a significant increase from the prior-year reported figure.
PBF Energy (PBF - Free Report) has an Earnings ESP of +9.17% and a Zacks Rank #3.
PBF Energy is scheduled to release fourth-quarter earnings on Feb 16. The Zacks Consensus Estimate for PBF’s earnings is pegged at $4.49 per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.