An Earnings Miss: Fracking sand player Emerge Energy Services L.P. reported earnings per unit of 30 cents, lower than the Zacks Consensus Estimate 38 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 30 days.
Coming to earnings surprise history, the partnership has a bad record: its underperformed estimates in three of the last four quarters, as shown in the chart below:
Revenue Came in Lower than Expected: Revenues of $101.8 million were below the Zacks Consensus Estimate of $123 million.
Key Stats: Emerge Energy Services earnings come from its sand operations, which recorded adjusted EBITDA of $23.4 million. In the year-ago quarter, the company had generated a profit of $7.5 million.
Total sand volumes sold jumped by 14.2% year-over-year to 1,589,000 tons.
The partnership further stated that it will not pay a second-quarter distribution after generating insufficient cash during the period to do so.
Zacks Rank: Currently, Emerge Energy Services carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
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An Earnings Miss: Fracking sand player Emerge Energy Services L.P. reported earnings per unit of 30 cents, lower than the Zacks Consensus Estimate 38 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 30 days.
Coming to earnings surprise history, the partnership has a bad record: its underperformed estimates in three of the last four quarters, as shown in the chart below:
Revenue Came in Lower than Expected: Revenues of $101.8 million were below the Zacks Consensus Estimate of $123 million.
Key Stats: Emerge Energy Services earnings come from its sand operations, which recorded adjusted EBITDA of $23.4 million. In the year-ago quarter, the company had generated a profit of $7.5 million.
Total sand volumes sold jumped by 14.2% year-over-year to 1,589,000 tons.
The partnership further stated that it will not pay a second-quarter distribution after generating insufficient cash during the period to do so.
Zacks Rank: Currently, Emerge Energy Services carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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 a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent 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 >>