Warrior Met Coal, Inc. (HCC - Free Report) is scheduled to release third-quarter 2023 earnings on Nov 1 after market close. In the last quarter, the company reported a negative earnings surprise of 19.3%.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Warrior Met Coal’s third-quarter performance is likely to have gained from the end of a labor dispute, increasing the size of the workforce and a resultant rise in production volumes. The company might have also benefited from its planned longwall move in the third quarter.
Warrior Met Coal might have also benefited from its variable cost structure, primarily for wages, transportation and royalties. High-quality met coal produced by the company result in pricing premium-boosting performance.
However, the inflationary cost increases might have offset some of the positives in the third quarter.
Expectations
The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $388.2 million and $1.88, respectively. The bottom-line figure indicates a decrease of 10.5% from a year ago.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Warrior Met Coal this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Earnings ESP: Warrior Met Coal’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Warrior Met Coal sports a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Murphy Oil Corp. (MUR - Free Report) is set to report third-quarter 2023 numbers on Nov 2, before market open. It has an Earnings ESP of +1.77% and a Zacks Rank #2.
EOG Resources (EOG - Free Report) is slated to report third-quarter 2023 results on Nov 3, before market open. It has an Earnings ESP of +1.52% and presently carries a Zacks Rank #2.
Devon Energy Corp. (DVN - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank #2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Warrior Met Coal, Inc. (HCC - Free Report) is scheduled to release third-quarter 2023 earnings on Nov 1 after market close. In the last quarter, the company reported a negative earnings surprise of 19.3%.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Warrior Met Coal’s third-quarter performance is likely to have gained from the end of a labor dispute, increasing the size of the workforce and a resultant rise in production volumes. The company might have also benefited from its planned longwall move in the third quarter.
Warrior Met Coal might have also benefited from its variable cost structure, primarily for wages, transportation and royalties. High-quality met coal produced by the company result in pricing premium-boosting performance.
However, the inflationary cost increases might have offset some of the positives in the third quarter.
Expectations
The Zacks Consensus Estimate for third-quarter revenues and earnings per share is pegged at $388.2 million and $1.88, respectively. The bottom-line figure indicates a decrease of 10.5% from a year ago.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Warrior Met Coal this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Earnings ESP: Warrior Met Coal’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Warrior Met Coal sports a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Murphy Oil Corp. (MUR - Free Report) is set to report third-quarter 2023 numbers on Nov 2, before market open. It has an Earnings ESP of +1.77% and a Zacks Rank #2.
EOG Resources (EOG - Free Report) is slated to report third-quarter 2023 results on Nov 3, before market open. It has an Earnings ESP of +1.52% and presently carries a Zacks Rank #2.
Devon Energy Corp. (DVN - Free Report) is scheduled to release third-quarter 2023 results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank #2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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