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Phillips 66 (PSX) to Post Q1 Earnings: What's in Store?
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Phillips 66 (PSX - Free Report) is set to report first-quarter 2022 results on Apr 29, before the opening bell.
In the last reported quarter, the diversified energy manufacturing and logistics company reported earnings of $2.94 per share, beating the Zacks Consensus Estimate of $1.93 per share on stronger refining margins worldwide.
In the trailing four quarters, Phillips 66 beat the Zacks Consensus Estimate for the bottom line, delivering an earnings surprise of 34.3%, on average. 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 its first-quarter earnings per share of $1.14 has witnessed no upward and six downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 198.3%.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $29.8 billion indicates a 35.9% improvement from the year-ago reported figure.
Factors to Consider
In the March quarter, demand for refined petroleum products improved since economies opened up. This is likely to have favored Phillips 66 since the company is one of the largest refiners in the world.
The Zacks Consensus Estimate for PSX’s adjusted pre-tax income from the refining business is pegged at $159 million, suggesting an improvement from a loss of $1,026 million in the year-ago period.
Earnings Whispers
Our proven model does not indicate an earnings beat for Phillips 66 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. As you can see, that is not the case here.
Earnings ESP: Phillips 66 has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Phillips 66 currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may 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:
W&T Offshore is scheduled to release first-quarter results on May 3. The Zacks Consensus Estimate for W&T Offshore’s quarterly earnings is pegged at 20 cents per share, suggesting an increase of 81.8% from the prior-year reported figure.
EOG Resources (EOG - Free Report) has an Earnings ESP of +4.25% and is a Zacks #2 Ranked player at present.
EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.60 per share, suggesting an increase of 122.2% from the prior-year figure.
ConocoPhillips (COP - Free Report) has an Earnings ESP of +2.75% and flaunts a Zacks Rank #1.
ConocoPhillips is scheduled to release first-quarter earnings on May 5. The Zacks Consensus Estimate for COP’s earnings is pegged at $3.16 per share, suggesting a massive increase from the prior-year reported figure.
Image: Bigstock
Phillips 66 (PSX) to Post Q1 Earnings: What's in Store?
Phillips 66 (PSX - Free Report) is set to report first-quarter 2022 results on Apr 29, before the opening bell.
In the last reported quarter, the diversified energy manufacturing and logistics company reported earnings of $2.94 per share, beating the Zacks Consensus Estimate of $1.93 per share on stronger refining margins worldwide.
In the trailing four quarters, Phillips 66 beat the Zacks Consensus Estimate for the bottom line, delivering an earnings surprise of 34.3%, on average. This is depicted in the graph below:
Phillips 66 Price and EPS Surprise
Phillips 66 price-eps-surprise | Phillips 66 Quote
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for its first-quarter earnings per share of $1.14 has witnessed no upward and six downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 198.3%.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $29.8 billion indicates a 35.9% improvement from the year-ago reported figure.
Factors to Consider
In the March quarter, demand for refined petroleum products improved since economies opened up. This is likely to have favored Phillips 66 since the company is one of the largest refiners in the world.
The Zacks Consensus Estimate for PSX’s adjusted pre-tax income from the refining business is pegged at $159 million, suggesting an improvement from a loss of $1,026 million in the year-ago period.
Earnings Whispers
Our proven model does not indicate an earnings beat for Phillips 66 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. As you can see, that is not the case here.
Earnings ESP: Phillips 66 has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Phillips 66 currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may 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:
W&T Offshore, Inc. (WTI - Free Report) has an Earnings ESP of +10.00% and is a Zacks #3 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
W&T Offshore is scheduled to release first-quarter results on May 3. The Zacks Consensus Estimate for W&T Offshore’s quarterly earnings is pegged at 20 cents per share, suggesting an increase of 81.8% from the prior-year reported figure.
EOG Resources (EOG - Free Report) has an Earnings ESP of +4.25% and is a Zacks #2 Ranked player at present.
EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.60 per share, suggesting an increase of 122.2% from the prior-year figure.
ConocoPhillips (COP - Free Report) has an Earnings ESP of +2.75% and flaunts a Zacks Rank #1.
ConocoPhillips is scheduled to release first-quarter earnings on May 5. The Zacks Consensus Estimate for COP’s earnings is pegged at $3.16 per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.