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Sunoco (SUN) Gears Up for Q3 Earnings: What's in the Cards?
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Sunoco LP (SUN - Free Report) is set to report third-quarter 2021 results on Nov 3, before the opening bell.
In the last reported quarter, the partnership reported earnings of $1.73 per unit, beating the Zacks Consensus Estimate of $1.03 on higher fuel volumes and non-motor fuel gross profit.
In the trailing four quarters, the partnership beat the Zacks Consensus Estimate for earnings three times and missed the same once, the average surprise being 52.3%. This is depicted in the graph below:
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings per share of $1.06 has witnessed one upward revision and one downward movement in the past 30 days. The estimate suggests an increase of 10.4% from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $4.3 billion indicates an increase of 55% from the year-ago reported figure.
Factors to Consider
The partnership generates stable earnings by distributing multiple fuel brands in more than 30 states with its massive fuel distribution network.
The demand for motor fuel has improved year over year in the September-end quarter. This is because coronavirus vaccines have been rolled up at a massive scale, which helped more people to socialize and join work. The higher demand is likely to have increased Sunoco’s revenues from motor fuel sales. The Zacks Consensus Estimate for the partnership’s revenues from third-quarter motor fuel sales is pegged at $4,582 million, indicating an increase from the year-ago reported level of $2,711 million.
Earnings Whispers
Our proven model does not indicate an earnings beat for Sunoco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The partnership’s Earnings ESP is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.06 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may also want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Continental Resources has an Earnings ESP of +0.90% and is a Zacks #1 Ranked player at present. The company is scheduled to release third-quarter results on Nov 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
APA Corporation (APA - Free Report) has an Earnings ESP of +0.42% and it currently flaunts a Zacks Rank of 1. It is scheduled to report third-quarter results on Nov 3.
EOG Resources (EOG - Free Report) has an Earnings ESP of +2.16% and it sports a Zacks Rank #1 at present. The firm is scheduled to release third-quarter earnings on Nov 4.
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Sunoco (SUN) Gears Up for Q3 Earnings: What's in the Cards?
Sunoco LP (SUN - Free Report) is set to report third-quarter 2021 results on Nov 3, before the opening bell.
In the last reported quarter, the partnership reported earnings of $1.73 per unit, beating the Zacks Consensus Estimate of $1.03 on higher fuel volumes and non-motor fuel gross profit.
In the trailing four quarters, the partnership beat the Zacks Consensus Estimate for earnings three times and missed the same once, the average surprise being 52.3%. This is depicted in the graph below:
Sunoco LP Price and EPS Surprise
Sunoco LP price-eps-surprise | Sunoco LP Quote
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings per share of $1.06 has witnessed one upward revision and one downward movement in the past 30 days. The estimate suggests an increase of 10.4% from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $4.3 billion indicates an increase of 55% from the year-ago reported figure.
Factors to Consider
The partnership generates stable earnings by distributing multiple fuel brands in more than 30 states with its massive fuel distribution network.
The demand for motor fuel has improved year over year in the September-end quarter. This is because coronavirus vaccines have been rolled up at a massive scale, which helped more people to socialize and join work. The higher demand is likely to have increased Sunoco’s revenues from motor fuel sales. The Zacks Consensus Estimate for the partnership’s revenues from third-quarter motor fuel sales is pegged at $4,582 million, indicating an increase from the year-ago reported level of $2,711 million.
Earnings Whispers
Our proven model does not indicate an earnings beat for Sunoco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: The partnership’s Earnings ESP is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.06 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may also want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Continental Resources has an Earnings ESP of +0.90% and is a Zacks #1 Ranked player at present. The company is scheduled to release third-quarter results on Nov 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
APA Corporation (APA - Free Report) has an Earnings ESP of +0.42% and it currently flaunts a Zacks Rank of 1. It is scheduled to report third-quarter results on Nov 3.
EOG Resources (EOG - Free Report) has an Earnings ESP of +2.16% and it sports a Zacks Rank #1 at present. The firm is scheduled to release third-quarter earnings on Nov 4.