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TOTAL (TOT) to Report Q1 Earnings: What's in the Offing?

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TOTAL SE is set to report first-quarter earnings on Apr 29, before the opening bell. This integrated oil and gas company delivered an earnings surprise of 97.7% in the last four quarters, on average.

Let’s focus on the factors that might have impacted its first-quarter performance.

Factors at Play

During the quarter, TOTAL continued to strengthen the overall portfolio through acquisitions, tie-ups and monetization of non-core assets, which in turn are expected to get reflected in first-quarter results. TOTAL continued with strong cost-management initiatives, which are likely to have boosted margins in the first quarter.

First-quarter production is likely to have benefited from new start-ups and resumption of production from Libya. Better contribution from Cameron LNG is likely to benefit first-quarter results.

Weakness in European refining margins and low demand for jet fuel are likely to have had an adverse impact on first-quarter earnings.

Expectation

The Zacks Consensus Estimate for average first-quarter hydrocarbon production is pegged at 2,946 thousand barrels of oil equivalent per day (kboe/d), indicating a 4.5% year-over-year decline.

The Zacks Consensus Estimate for first-quarter earnings is 85 cents, which indicates 28.8% growth from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for TOTAL 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. That is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

TOTAL SE Price and EPS Surprise

TOTAL SE Price and EPS Surprise

TOTAL SE price-eps-surprise | TOTAL SE Quote

Earnings ESP: The company has an Earnings ESP of 0.00%.

Zacks Rank: TOTAL currently sports a Zacks Rank of 1.

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 in the to-be-reported quarter.

Chevron Corporation (CVX - Free Report) is scheduled to release first-quarter 2021 numbers on Apr 30. It has an Earnings ESP of +6.08% and sports a Zacks Rank #1.

Exxon Mobil Corporation (XOM - Free Report) is scheduled to release first-quarter 2021 numbers on Apr 30. It has an Earnings ESP of +8.09% and sports a Zacks Rank #1.

EOG Resources (EOG - Free Report) is slated to release first-quarter 2021 numbers on May 7. It has an Earnings ESP of +7.77% and sports a Zacks Rank #1.

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