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The company surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, the average being 37.6%. It posted an earnings surprise of around 45.5% in the last reported quarter. The company’s second-quarter results are likely to reflect strong end-market demand and higher prices.
The stock has rallied 28.9% in the past year compared with the industry’s 20.4% decline.
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 second-quarter consolidated revenues for ICL Group is currently pegged at $2,667 million, which calls for a rise of around 64.9% 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. Higher end-market demand and prices are expected to have driven its performance in the second quarter.
Strong end-market demand is likely to have aided the sales of its bromine compounds and phosphorous and magnesia-based products in the June quarter. Healthy 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 and supply-chain challenges in the quarter exacerbated by the pandemic-related lockdowns in China.
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 -16.67%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 54 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 #2.
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:
The Zacks Consensus Estimate for Albemarle's second-quarter earnings has been revised 11.8% upward over the past 60 days. The consensus estimate for ALB’s earnings for the quarter is currently pegged at $2.94.
Celanese Corporation (CE - Free Report) , scheduled to release earnings on Jul 28, has an Earnings ESP of +0.89% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for Celanese’s second-quarter earnings has been revised 2.2% upward over the past 60 days. The Zacks Consensus Estimate for CE’s earnings for the quarter is currently pegged at $4.58.
Eastman Chemical Company (EMN - Free Report) , slated to release earnings on Jul 28, has an Earnings ESP of +0.85% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for Eastman Chemical’s second-quarter earnings has revised 0.7% upward over the past 60 days. The consensus estimate for EMN’s earnings for the second quarter stands at $2.69.
Image: Bigstock
ICL Group (ICL) to Report Q2 Earnings: What's in the Cards?
ICL Group Ltd (ICL - Free Report) is scheduled to report second-quarter 2022 results before the opening bell on Jul 27.
The company surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, the average being 37.6%. It posted an earnings surprise of around 45.5% in the last reported quarter. The company’s second-quarter results are likely to reflect strong end-market demand and higher prices.
The stock has rallied 28.9% in the past year compared with the industry’s 20.4% decline.
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 second-quarter consolidated revenues for ICL Group is currently pegged at $2,667 million, which calls for a rise of around 64.9% 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. Higher end-market demand and prices are expected to have driven its performance in the second quarter.
Strong end-market demand is likely to have aided the sales of its bromine compounds and phosphorous and magnesia-based products in the June quarter. Healthy 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 and supply-chain challenges in the quarter exacerbated by the pandemic-related lockdowns in China.
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 -16.67%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at 54 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 #2.
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:
Albemarle Corporation (ALB - Free Report) , scheduled to release earnings on Aug 3, has an Earnings ESP of +11.87% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Albemarle's second-quarter earnings has been revised 11.8% upward over the past 60 days. The consensus estimate for ALB’s earnings for the quarter is currently pegged at $2.94.
Celanese Corporation (CE - Free Report) , scheduled to release earnings on Jul 28, has an Earnings ESP of +0.89% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for Celanese’s second-quarter earnings has been revised 2.2% upward over the past 60 days. The Zacks Consensus Estimate for CE’s earnings for the quarter is currently pegged at $4.58.
Eastman Chemical Company (EMN - Free Report) , slated to release earnings on Jul 28, has an Earnings ESP of +0.85% and carries a Zacks Rank #3.
The Zacks Consensus Estimate for Eastman Chemical’s second-quarter earnings has revised 0.7% upward over the past 60 days. The consensus estimate for EMN’s earnings for the second quarter stands at $2.69.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.