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TotalEnergies (TTE) to Report Q2 Earnings: What's in Store?

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TotalEnergies (TTE - Free Report) is set to report second-quarter earnings on Jul 29, before the opening bell. This company delivered an earnings surprise of 29.4% in the last reported quarter.

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

Factors at Play

During the quarter, TotalEnergies continued to strengthen the overall portfolio through acquisitions, tie-ups and monetization of non-core assets. This in turn is expected to get reflected in second-quarter results.

It continued with strong cost-management initiatives, which are likely to have boosted margins in the second quarter. Second-quarter production is likely to have benefited from new start-ups and resumption of production from Libya.

Expectation

The Zacks Consensus Estimate for second-quarter earnings is $1.10, which indicates whopping 5400% growth from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for TotalEnergies 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 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.

Earnings ESP: The company has an Earnings ESP of +7.41%.

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

Other Stocks to Consider

Investors can also consider the following players from the same sector that too have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Devon Energy Corporation (DVN - Free Report) is scheduled to release second-quarter 2021 numbers on Aug 3. It has an Earnings ESP of +8.00% and sports a Zacks Rank #1.

ConocoPhillips (COP - Free Report) is scheduled to release second-quarter 2021 numbers on Aug 3. It has an Earnings ESP of +3.85% and sports a Zacks Rank #1.

Apache Corporation (APA - Free Report) is scheduled to release second-quarter 2021 numbers on Aug 4. It has an Earnings ESP of +15.69% and sports a Zacks Rank #1.