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Factors to Keep an Eye on Ahead of RPC's (RES) Q1 Earnings
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RPC, Inc. (RES - Free Report) is set to report first-quarter 2022 earnings results on Apr 27, before the opening bell.
In the last reported quarter, RPC’s adjusted earnings of 6 cents per share beat the Zacks Consensus Estimate of 3 cents, backed by higher activity levels in all service lines and improved pricing.
RPC’s bottom line beat the Zacks Consensus Estimate thrice and missed the same once in the trailing four quarters, the average surprise being 58.3%. This is depicted in the graph below:
Let’s see how things have shaped up prior to this announcement.
Estimate Trend
The Zacks Consensus Estimate for its first-quarter earnings per share of 7 cents has witnessed two upward revisions and no downward movement in the past seven days. The estimated figure suggests a substantial improvement from a loss of 5 cents reported in the prior-year quarter.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $291 million indicates a 59% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for RPC 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: RPC’s Earnings ESP is +2.27%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: RPC currently carries a Zacks Rank #2.
Factors to Consider
In the March-end quarter of 2022, oil prices were significantly higher than the year-ago comparable quarter. The massive improvement was owing to Russia’s aggressive and unprovoked invasion of Ukraine.
Higher oil price was favorable for exploration and production activities, which have likely driven the demand for RPC’s oilfield services. This is because oilfield service players assist upstream companies in setting up oil wells efficiently. Improved drilling operations are expected to have generated handsome cash flows for the company in the first quarter.
Other Stocks to Consider
Here are some other companies that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Antero Resources is scheduled to release first-quarter results on Apr 27. The Zacks Consensus Estimate for AR’s quarterly earnings is pegged at $1.03 per share, suggesting an increase of 69% from the prior-year reported figure.
Chevron Corporation (CVX - Free Report) has an Earnings ESP of +2.18% and is currently a Zacks #2 Ranked player.
Chevron is scheduled to release first-quarter results on Apr 29. The Zacks Consensus Estimate for CVX’s quarterly earnings is pegged at $3.36 per share, suggesting a massive improvement from the prior-year figure.
EQT Corporation (EQT - Free Report) has an Earnings ESP of +1.77% and a Zacks Rank #2 at present.
EQT is scheduled to release first-quarter earnings on Apr 27. The Zacks Consensus Estimate for EQT’s earnings is pegged at $1.01 per share, suggesting a significant increase from the prior-year reported figure.
Image: Bigstock
Factors to Keep an Eye on Ahead of RPC's (RES) Q1 Earnings
RPC, Inc. (RES - Free Report) is set to report first-quarter 2022 earnings results on Apr 27, before the opening bell.
In the last reported quarter, RPC’s adjusted earnings of 6 cents per share beat the Zacks Consensus Estimate of 3 cents, backed by higher activity levels in all service lines and improved pricing.
RPC’s bottom line beat the Zacks Consensus Estimate thrice and missed the same once in the trailing four quarters, the average surprise being 58.3%. This is depicted in the graph below:
RPC, Inc. Price and EPS Surprise
RPC, Inc. price-eps-surprise | RPC, Inc. Quote
Let’s see how things have shaped up prior to this announcement.
Estimate Trend
The Zacks Consensus Estimate for its first-quarter earnings per share of 7 cents has witnessed two upward revisions and no downward movement in the past seven days. The estimated figure suggests a substantial improvement from a loss of 5 cents reported in the prior-year quarter.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $291 million indicates a 59% improvement from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for RPC 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: RPC’s Earnings ESP is +2.27%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: RPC currently carries a Zacks Rank #2.
Factors to Consider
In the March-end quarter of 2022, oil prices were significantly higher than the year-ago comparable quarter. The massive improvement was owing to Russia’s aggressive and unprovoked invasion of Ukraine.
Higher oil price was favorable for exploration and production activities, which have likely driven the demand for RPC’s oilfield services. This is because oilfield service players assist upstream companies in setting up oil wells efficiently. Improved drilling operations are expected to have generated handsome cash flows for the company in the first quarter.
Other Stocks to Consider
Here are some other companies that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Antero Resources (AR - Free Report) has an Earnings ESP of +2.7% and is a Zacks #1 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Antero Resources is scheduled to release first-quarter results on Apr 27. The Zacks Consensus Estimate for AR’s quarterly earnings is pegged at $1.03 per share, suggesting an increase of 69% from the prior-year reported figure.
Chevron Corporation (CVX - Free Report) has an Earnings ESP of +2.18% and is currently a Zacks #2 Ranked player.
Chevron is scheduled to release first-quarter results on Apr 29. The Zacks Consensus Estimate for CVX’s quarterly earnings is pegged at $3.36 per share, suggesting a massive improvement from the prior-year figure.
EQT Corporation (EQT - Free Report) has an Earnings ESP of +1.77% and a Zacks Rank #2 at present.
EQT is scheduled to release first-quarter earnings on Apr 27. The Zacks Consensus Estimate for EQT’s earnings is pegged at $1.01 per share, suggesting a significant increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.