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Oil Stock Q2 Earnings Slated for Aug 10: CPG, AOIFF & More
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As Q2 earnings season draws to a close, the overall picture is becoming clearer. We note a sequential improvement in the quarter despite of a negative year-over-year growth in both earnings and revenues.
So far, 414 S&P 500 members, which account for 85.2% of the index’s total market capitalization, have reported their results. Total earnings for these companies are down 4.5% year over year due 1% decline in revenues. While 70.3% of these companies beat earnings per share (EPS) estimates, 55.6% surpassed top-line expectations (as of Aug 4).
Per the Earnings Trends report, the general outlook for the energy sector remains bearish as the sector has registered a massive 76.9% decrease in earnings due to a 24.4% plunge in revenues, both on year-over-year basis. Excluding the impact of the energy sector, the S&P 500 index would witness earnings decline of 0.7% as revenues inch up 2.3%.
With the remaining companies slated to report their results soon, let’s have a look at how some of these energy companies might fare this quarter.
Crescent Point Energy Corp. (CPG - Free Report) is slated to release Q2 results on Aug 10. Our proven model does not conclusively show that Crescent Point is likely to beat on earnings this quarter. This is because the company has a Zacks Rank #3 (Hold) but an Earnings ESP of 0.00%. Both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 11 cents. Though stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a higher chance on beating on earnings, a 0.00% Earnings ESP makes surprise prediction difficult.
Africa Oil Corp (AOIFF - Free Report) is expected to release Q2 results on Aug 10. The company has a Zacks Rank #3 but an Earnings ESP of 0.00%. Despite the company’s favorable Zacks Rank, our surprise prediction is complicated by its 0.00% Earnings ESP.
Ultra Petroleum Corp is set to release Q2 results on Aug 10. The company has a Zacks Rank #2 but an Earnings ESP of 0.00%, which makes surprise prediction inconclusive.
Ithaca Energy Inc is expected to release Q2 results on Aug 10. Our proven model does not conclusively show that Intercontinental Exchange is likely to beat on earnings this quarter. This is because the company has a Zacks Rank #3 but an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at a loss of 19 cents.
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Oil Stock Q2 Earnings Slated for Aug 10: CPG, AOIFF & More
As Q2 earnings season draws to a close, the overall picture is becoming clearer. We note a sequential improvement in the quarter despite of a negative year-over-year growth in both earnings and revenues.
So far, 414 S&P 500 members, which account for 85.2% of the index’s total market capitalization, have reported their results. Total earnings for these companies are down 4.5% year over year due 1% decline in revenues. While 70.3% of these companies beat earnings per share (EPS) estimates, 55.6% surpassed top-line expectations (as of Aug 4).
Per the Earnings Trends report, the general outlook for the energy sector remains bearish as the sector has registered a massive 76.9% decrease in earnings due to a 24.4% plunge in revenues, both on year-over-year basis. Excluding the impact of the energy sector, the S&P 500 index would witness earnings decline of 0.7% as revenues inch up 2.3%.
With the remaining companies slated to report their results soon, let’s have a look at how some of these energy companies might fare this quarter.
Crescent Point Energy Corp. (CPG - Free Report) is slated to release Q2 results on Aug 10. Our proven model does not conclusively show that Crescent Point is likely to beat on earnings this quarter. This is because the company has a Zacks Rank #3 (Hold) but an Earnings ESP of 0.00%. Both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 11 cents. Though stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a higher chance on beating on earnings, a 0.00% Earnings ESP makes surprise prediction difficult.
CRESCENT PT EGY Price and EPS Surprise
CRESCENT PT EGY Price and EPS Surprise | CRESCENT PT EGY Quote
Africa Oil Corp (AOIFF - Free Report) is expected to release Q2 results on Aug 10. The company has a Zacks Rank #3 but an Earnings ESP of 0.00%. Despite the company’s favorable Zacks Rank, our surprise prediction is complicated by its 0.00% Earnings ESP.
AFRICA OIL CORP Price and EPS Surprise
AFRICA OIL CORP Price and EPS Surprise | AFRICA OIL CORP Quote
Ultra Petroleum Corp is set to release Q2 results on Aug 10. The company has a Zacks Rank #2 but an Earnings ESP of 0.00%, which makes surprise prediction inconclusive.
ULTRA PETRO CP Price and EPS Surprise
ULTRA PETRO CP Price and EPS Surprise | ULTRA PETRO CP Quote
Ithaca Energy Inc is expected to release Q2 results on Aug 10. Our proven model does not conclusively show that Intercontinental Exchange is likely to beat on earnings this quarter. This is because the company has a Zacks Rank #3 but an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at a loss of 19 cents.
ITHACA ENERGY Price and EPS Surprise
ITHACA ENERGY Price and EPS Surprise | ITHACA ENERGY Quote
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