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Chemical Stocks Earnings Roster for May 1: CC, CBT & IPHS

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A few chemical companies are lined up to report their quarterly numbers on May 1. As per the Zacks Industry classification, the chemical industry is grouped under the broader Basic Materials sector. Based on the Earnings Outlook as of Apr 26, 40% of the sector participants on the S&P 500 index have reported their quarterly numbers. Earnings for these companies increased a solid 47.7% from the same period last year while sales dipped 1.4%.

Basic Materials is one of the four sectors that are projected to witness double-digit earnings growth in the first quarter. Overall earnings for the sector are projected to rise 15.4% while revenues are expected to increase 2.2%.

The chemical industry is gradually gaining strength on continued momentum across major end-markets. While the industry remains mired by several headwinds including concerns over China’s economy and weak demand in the energy space, its upturn is expected to continue this year on continued strength in the light vehicles market, positive trends in the construction space and significant shale-linked capital investment.

Strategic initiatives including continued focus on cost and productivity, operational efficiency improvement and expansion of scale through acquisitions should also help chemical makers weather macroeconomic and industry-specific headwinds in 2017.

We take a sneak peek into three chemical companies that are gearing up to report quarterly results on May 1.

The Chemours Company (CC - Free Report) , which will report first-quarter results after the bell, is expected to come up with a positive earnings surprise as it carries a Zacks Rank #1 (Strong Buy) and an Earnings ESP of +4.08%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

The company beat the Zacks Consensus Estimate in three of the trailing four quarters, delivering an average positive surprise of 151.56%.

Chemours Company (The) Price and EPS Surprise

 

Chemours Company (The) Price and EPS Surprise | Chemours Company (The) Quote

Cabot Corporation (CBT - Free Report) will report fiscal second-quarter results after the close. It has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 84 cents. While the stock carries a Zacks Rank #2 (Buy), its 0.00% ESP makes surprise prediction difficult. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company beat the Zacks Consensus Estimate in three of the trailing four quarters while missed in the other, delivering an average positive surprise of 5.03%. Cabot remains committed to execute its core strategy which is focused on delivering value to shareholders. The company looks to implement a balanced capital allocation investment strategy for growth and cash return to shareholders. (Read more: Can Cabot Corp Pull a Surprise This Earnings Season?)

Cabot Corporation Price and EPS Surprise

 

Cabot Corporation Price and EPS Surprise | Cabot Corporation Quote

Innophos Holdings, Inc. will report first-quarter earnings numbers after the bell. It has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 52 cents. The stock carries a Zacks Rank #4 (Sell), which we caution against going into the earnings announcement.

Innophos has an impressive surprise history. It beat estimates in each of the trailing four quarters, at an average of 27.09%.

Innophos Holdings, Inc. Price and EPS Surprise

 

Innophos Holdings, Inc. Price and EPS Surprise | Innophos Holdings, Inc. Quote

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