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ICL Group (ICL) to Report Q1 Earnings: What's in the Offing?

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ICL Group Ltd (ICL - Free Report) is scheduled to report first-quarter 2022 results before the opening bell on May 11.

The company surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, the average being 56.2%. It posted an earnings surprise of around 52.9% in the last reported quarter. The company’s first-quarter results are likely to reflect strong end-market demand and higher prices.
 
The stock has rallied 58.7% in the past year compared with the industry’s 18.5% decline.

 

Zacks Investment Research
Image Source: Zacks Investment Research

 

Let’s see how things are shaping up for this announcement.

 

What Do the Estimates Say?

The Zacks Consensus Estimate for first-quarter consolidated revenues for ICL Group is currently pegged at $2,119 million, which calls for a rise of around 40.3% year over year.

Some Factors at Play

The company is likely to have benefited from the strength in its specialties businesses and an upside in commodity prices in the to-be-reported quarter. ICL is seeing higher demand across consumer electronics, textiles, automotive and construction markets. Higher end-market demand and prices are expected to have driven its performance in the March quarter.

Strong end-market demand is likely to have aided the sales of its bromine compounds and phosphorous and magnesia-based products in the first quarter. Solid demand for electric vehicles and energy storage is also expected to have driven demand for its phosphate and bromine-based specialty products. However, the company is likely to have faced headwinds from higher raw material costs in the quarter.

 

ICL Group Ltd. Price and EPS Surprise

 

ICL Group Ltd. Price and EPS Surprise

ICL Group Ltd. price-eps-surprise | ICL Group Ltd. Quote

 

Zacks Model

Our proven model does not conclusively predict an earnings beat for ICL Group this season. 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. But that’s not the case here.

Earnings ESP: Earnings ESP for ICL Group is 0.00%. The Zacks Consensus Estimate for earnings for the first quarter is currently pegged at 33 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: ICL Group currently carries a Zacks Rank #3.

Stocks That Warrant a Look

Here are some companies in the basic materials space you may want to consider as our model shows these have the right combination of elements to post an earnings beat this quarter:

MAG Silver Corp. (MAG - Free Report) , expected to release earnings on May 16, has an Earnings ESP of +57.90% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for MAG Silver’s first-quarter earnings has been revised 42.9% upward in the past 60 days. The Zacks Consensus Estimate for MAG’s earnings for the quarter is pegged at 10 cents.

Endeavour Silver Corp. (EXK - Free Report) , scheduled slated to release earnings on May 11, has an Earnings ESP of +4.35% and carries a Zacks Rank #3.

The consensus estimate for Endeavour Silver’s first-quarter earnings has been revised 20% upward in the past 60 days. The consensus estimate for EXK’s earnings for the quarter is pegged at 6 cents.

Maverix Metals Inc. (MMX - Free Report) , expected to release earnings on May 13, has an Earnings ESP of +9.09% and carries a Zacks Rank #3.

The Zacks Consensus Estimate for Maverix Metals’ first-quarter earnings has been revised 33.3% upward over the past 60 days. The Zacks Consensus Estimate for MMX’s earnings for the quarter is currently pegged at 4 cents.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.