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Can TotalEnergies (TTE) Keep Earnings Streak Alive in Q3?

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TotalEnergies (TTE - Free Report) is set to report third-quarter earnings on Oct 28, before the opening bell. This company delivered an average earnings surprise of 75.4% in the last four reported quarters.

Let’s focus on the factors that might have impacted its third-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 third-quarter results. During the quarter, the company made progress in developing a large network of electric vehicle (EV) charging points that will assist in emission reduction. TotalEnergies acquired the largest EV charge points network in Singapore and signed a deal to develop EV charging points in China.

It continued with strong cost-management initiatives, which are likely to have boosted margins in the third quarter. Third-quarter production is likely to have benefited from new start-ups and strong hydrocarbon prices, which in turn are expected to have boosted earnings.

Expectation

The Zacks Consensus Estimate for third-quarter earnings is $1.50, which indicates 417.3% 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 +1.72%.

Zacks Rank: TotalEnergies currently holds a Zacks Rank of 2.

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.

BP Plc (BP - Free Report) is scheduled to release third-quarter 2021 numbers on Nov 2. It has an Earnings ESP of +11.61% and sports a Zacks Rank #1.

Occidental Petroleum Corporation (OXY - Free Report) is scheduled to release third-quarter 2021 numbers on Nov 4. It has an Earnings ESP of +3.48% and carries a Zacks Rank #2.

EOG Resources Inc. (EOG - Free Report) is scheduled to release third-quarter 2021 numbers on Nov 5. It has an Earnings ESP of +1.92% and sports a Zacks Rank #2.

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