Select Energy Services, Inc. (WTTR - Free Report) is set to release first-quarter results on May 2. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 15 cents per share on revenues of $401.9 million.
Let’s delve into the factors that might have influenced the water and chemical solution provider’s performance in the March quarter. But it’s worth taking a look at Select Energy’s previous-quarter results first.
Highlights of Q4 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based supplier of water management services to oil and gas exploration and production companies missed the consensus mark due to weakness in sales and lower-than-expected gross profits. Select Energy had reported earnings per share of 7 cents, well behind the Zacks Consensus Estimate of 23 cents. Revenues of $381.7 million came in 1.6% below the consensus mark.
WTTR topped the Zacks Consensus Estimate for earnings in two of the last four quarters and missed in the other two. The company has a trailing four-quarter earnings surprise of 23.2%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Select Energy is likely to beat estimates in the first 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: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 20%.
Zacks Rank: WTTR currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
While an earnings beat looks uncertain for Select Energy, here are some firms from the energy space that you may want to consider on the basis of our model:
Sunoco LP (SUN - Free Report) has an Earnings ESP of +5.66% and a Zacks Rank #1. The firm is scheduled to release earnings on May 2.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SUN’s 2023 earnings has been revised 1.4% upward over the past 60 days. Valued at around $4.5 billion, Sunoco has gained 8.5% in a year.
Targa Resources (TRGP - Free Report) has an Earnings ESP of +3.26% and a Zacks Rank #2. The firm is scheduled to release earnings on May 4.
For 2023, Targa Resources has a projected earnings growth rate of 53.6%. Valued at around $17.1 billion, TRGP has gained 0.7% in a year.
Canadian Natural Resources (CNQ - Free Report) has an Earnings ESP of +4.29% and a Zacks Rank #3. The firm is scheduled to release earnings on May 4.
Canadian Natural Resources delivered a four-quarter average earnings surprise of 10.5%. Valued at around $64.9 billion, CNQ has lost 2.3% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Select Energy Services, Inc. (WTTR - Free Report) is set to release first-quarter results on May 2. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of 15 cents per share on revenues of $401.9 million.
Let’s delve into the factors that might have influenced the water and chemical solution provider’s performance in the March quarter. But it’s worth taking a look at Select Energy’s previous-quarter results first.
Highlights of Q4 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based supplier of water management services to oil and gas exploration and production companies missed the consensus mark due to weakness in sales and lower-than-expected gross profits. Select Energy had reported earnings per share of 7 cents, well behind the Zacks Consensus Estimate of 23 cents. Revenues of $381.7 million came in 1.6% below the consensus mark.
WTTR topped the Zacks Consensus Estimate for earnings in two of the last four quarters and missed in the other two. The company has a trailing four-quarter earnings surprise of 23.2%, on average. This is depicted in the graph below:
What Does Our Model Say?
The proven Zacks model does not conclusively show that Select Energy is likely to beat estimates in the first 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: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is 20%.
Zacks Rank: WTTR currently carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
While an earnings beat looks uncertain for Select Energy, here are some firms from the energy space that you may want to consider on the basis of our model:
Sunoco LP (SUN - Free Report) has an Earnings ESP of +5.66% and a Zacks Rank #1. The firm is scheduled to release earnings on May 2.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SUN’s 2023 earnings has been revised 1.4% upward over the past 60 days. Valued at around $4.5 billion, Sunoco has gained 8.5% in a year.
Targa Resources (TRGP - Free Report) has an Earnings ESP of +3.26% and a Zacks Rank #2. The firm is scheduled to release earnings on May 4.
For 2023, Targa Resources has a projected earnings growth rate of 53.6%. Valued at around $17.1 billion, TRGP has gained 0.7% in a year.
Canadian Natural Resources (CNQ - Free Report) has an Earnings ESP of +4.29% and a Zacks Rank #3. The firm is scheduled to release earnings on May 4.
Canadian Natural Resources delivered a four-quarter average earnings surprise of 10.5%. Valued at around $64.9 billion, CNQ has lost 2.3% in a year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Get the latest research report on SUN - FREE
Get the latest research report on CNQ - FREE
Get the latest research report on TRGP - FREE
Get the latest research report on WTTR - FREE