Global Partners LP (GLP - Free Report) is set to release third-quarter results on Nov 4. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $1.33 per unit on revenues of $4.1 billion.
Let’s delve into the factors that might have influenced the vertically integrated energy partnership’s results in the September quarter. But it’s worth taking a look at MPC’s previous-quarter performance first.
Highlights of Q2 Earnings & Surprise History
In the last-reported quarter, the Waltham, MA-based gasoline station and convenience store operator handily beat the consensus mark on strength in its Wholesale segment. GLP had reported adjusted earnings per unit of $2.35, well above the Zacks Consensus Estimate of $1.21. Revenues of $5.3 billion generated by the firm also came in above the Zacks Consensus Estimate by 23.4%.
Global Partners beat the Zacks Consensus Estimate for earnings in each of the last four quarters, resulting in an earnings surprise of 263.9%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Global Partners is likely to beat estimates in the third quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Global Partners has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.33 per share each.
Zacks Rank: GLP currently carries a Zacks Rank #2, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.
Stocks to Consider
While an earnings beat looks uncertain for Global Partners, here are some firms from the energy space that you may want to consider on the basis of our model:
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +2.74% and a Zacks Rank #1. The firm is scheduled to release earnings on Nov 7.
You can see the complete list of today’s Zacks #1 Rank stocks here.
For 2022, Cactus has a projected earnings growth rate of 144.4%. Valued at around $3.9 billion, WHD has gained 19.5% in a year.
HF Sinclair Corporation (DINO - Free Report) has an Earnings ESP of +1.17% and a Zacks Rank #1. The firm is scheduled to release earnings on Nov 7.
For 2022, HF Sinclair has a projected earnings growth rate of 846.1%. Valued at around $13.5 billion, DINO has gained 88% in a year.
Diamondback Energy (FANG - Free Report) has an Earnings ESP of +0.63% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov 7.
Diamondback topped the Zacks Consensus Estimate by an average of 7% in the trailing four quarters, including a 6.2% beat in Q2. Valued at around $27.5 billion, FANG has gained 37.3% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Global Partners LP (GLP - Free Report) is set to release third-quarter results on Nov 4. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $1.33 per unit on revenues of $4.1 billion.
Let’s delve into the factors that might have influenced the vertically integrated energy partnership’s results in the September quarter. But it’s worth taking a look at MPC’s previous-quarter performance first.
Highlights of Q2 Earnings & Surprise History
In the last-reported quarter, the Waltham, MA-based gasoline station and convenience store operator handily beat the consensus mark on strength in its Wholesale segment. GLP had reported adjusted earnings per unit of $2.35, well above the Zacks Consensus Estimate of $1.21. Revenues of $5.3 billion generated by the firm also came in above the Zacks Consensus Estimate by 23.4%.
Global Partners beat the Zacks Consensus Estimate for earnings in each of the last four quarters, resulting in an earnings surprise of 263.9%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Global Partners is likely to beat estimates in the third quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Global Partners has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.33 per share each.
Zacks Rank: GLP currently carries a Zacks Rank #2, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.
Stocks to Consider
While an earnings beat looks uncertain for Global Partners, here are some firms from the energy space that you may want to consider on the basis of our model:
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +2.74% and a Zacks Rank #1. The firm is scheduled to release earnings on Nov 7.
You can see the complete list of today’s Zacks #1 Rank stocks here.
For 2022, Cactus has a projected earnings growth rate of 144.4%. Valued at around $3.9 billion, WHD has gained 19.5% in a year.
HF Sinclair Corporation (DINO - Free Report) has an Earnings ESP of +1.17% and a Zacks Rank #1. The firm is scheduled to release earnings on Nov 7.
For 2022, HF Sinclair has a projected earnings growth rate of 846.1%. Valued at around $13.5 billion, DINO has gained 88% in a year.
Diamondback Energy (FANG - Free Report) has an Earnings ESP of +0.63% and a Zacks Rank #3. The firm is scheduled to release earnings on Nov 7.
Diamondback topped the Zacks Consensus Estimate by an average of 7% in the trailing four quarters, including a 6.2% beat in Q2. Valued at around $27.5 billion, FANG has gained 37.3% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s an American AI company that’s riding low right now, but it has rounded up clients like BMW, GE, Dell Computer, and Bosch. It has prospects for not just doubling but quadrupling in the year to come. Of course, all our picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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