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Is a Beat in Store for Enterprise (EPD) in Q2 Earnings?
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Enterprise Products Partners LP (EPD - Free Report) is set to report second-quarter 2022 results on Aug 3, before the opening bell.
In the last reported quarter, Enterprise Products posted earnings of 60 cents per share, beating the Zacks Consensus Estimate of 52 cents, owing to higher contributions from the NGL Pipelines & Services business.
In the trailing four quarters, Enterprise Products beat the Zacks Consensus Estimate twice, missed once and met once, delivering an earnings surprise of 3.4%, on average. This is depicted in the graph below:
Enterprise Products Partners L.P. Price and EPS Surprise
The Zacks Consensus Estimate for Enterprise Products’ second-quarter earnings per share of 63 cents has witnessed five upward and no downward movements in the past 30 days. The consensus estimate suggests an increase of 23.5% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $12.2 billion indicates a 29.2% year-over-year improvement.
Earnings Whispers
Our proven model predicts an earnings beat for Enterprise Products 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: Enterprise Products has an Earnings ESP of +1.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enterprise Products currently carries a Zacks Rank #2.
Key Factors
The pricing scenario of West Texas Intermediate (WTI) crude was considerably higher in the second quarter of this year compared to the year-ago period. Per data from the U.S. Energy Information Administration, the monthly WTI crude spot prices for this year’s April, May and June were $101.78 per barrel, $109.55 per barrel and $114.84 per barrel, respectively. The commodity prices were higher than last year’s prices of $61.72 per barrel, $65.17 per barrel and $71.38 per barrel, respectively. The significant crude price improvement was primarily supported by the invasion of Ukraine by Russia.
Higher commodity price is likely to have aided production volumes, which in turn might have increased demand for pipeline networks of Enterprise Products in the June quarter.
The Zacks Consensus Estimate for second-quarter gross operating margin from Crude Oil Pipelines & Services is pegged at $445 million, suggesting an increase from $419 million reported a year ago. Hence, the improved performance of the crude pipeline is expected to have positioned Enterprise Products well to generate higher profits in the second quarter.
Other Stocks That Warrant a Look
Here are some other firms 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:
Comstock Resources is scheduled to release second-quarter results on Aug 1. The Zacks Consensus Estimate for CRK’s quarterly earnings is pegged at 93 cents per share, suggesting a massive increase from the prior-year reported figure.
Diamondback Energy, Inc. (FANG - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #3 at present.
Diamondback is scheduled to release second-quarter earnings on Aug 1. The Zacks Consensus Estimate for FANG’s earnings is pegged at $6.66 per unit, suggesting a significant improvement from the prior-year reported figure.
Occidental Petroleum Corporation (OXY - Free Report) has an Earnings ESP of +1.78% and it currently carries a Zacks Rank #2.
Occidental is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for OXY’s earnings is pegged at $2.93 per share, suggesting a significant increase from the prior-year reported figure.
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Is a Beat in Store for Enterprise (EPD) in Q2 Earnings?
Enterprise Products Partners LP (EPD - Free Report) is set to report second-quarter 2022 results on Aug 3, before the opening bell.
In the last reported quarter, Enterprise Products posted earnings of 60 cents per share, beating the Zacks Consensus Estimate of 52 cents, owing to higher contributions from the NGL Pipelines & Services business.
In the trailing four quarters, Enterprise Products beat the Zacks Consensus Estimate twice, missed once and met once, delivering an earnings surprise of 3.4%, on average. This is depicted in the graph below:
Enterprise Products Partners L.P. Price and EPS Surprise
Enterprise Products Partners L.P. price-eps-surprise | Enterprise Products Partners L.P. Quote
Estimate Trend
The Zacks Consensus Estimate for Enterprise Products’ second-quarter earnings per share of 63 cents has witnessed five upward and no downward movements in the past 30 days. The consensus estimate suggests an increase of 23.5% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $12.2 billion indicates a 29.2% year-over-year improvement.
Earnings Whispers
Our proven model predicts an earnings beat for Enterprise Products 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: Enterprise Products has an Earnings ESP of +1.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enterprise Products currently carries a Zacks Rank #2.
Key Factors
The pricing scenario of West Texas Intermediate (WTI) crude was considerably higher in the second quarter of this year compared to the year-ago period. Per data from the U.S. Energy Information Administration, the monthly WTI crude spot prices for this year’s April, May and June were $101.78 per barrel, $109.55 per barrel and $114.84 per barrel, respectively. The commodity prices were higher than last year’s prices of $61.72 per barrel, $65.17 per barrel and $71.38 per barrel, respectively. The significant crude price improvement was primarily supported by the invasion of Ukraine by Russia.
Higher commodity price is likely to have aided production volumes, which in turn might have increased demand for pipeline networks of Enterprise Products in the June quarter.
The Zacks Consensus Estimate for second-quarter gross operating margin from Crude Oil Pipelines & Services is pegged at $445 million, suggesting an increase from $419 million reported a year ago. Hence, the improved performance of the crude pipeline is expected to have positioned Enterprise Products well to generate higher profits in the second quarter.
Other Stocks That Warrant a Look
Here are some other firms 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:
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +5.45% and is currently a Zacks #3 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Comstock Resources is scheduled to release second-quarter results on Aug 1. The Zacks Consensus Estimate for CRK’s quarterly earnings is pegged at 93 cents per share, suggesting a massive increase from the prior-year reported figure.
Diamondback Energy, Inc. (FANG - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #3 at present.
Diamondback is scheduled to release second-quarter earnings on Aug 1. The Zacks Consensus Estimate for FANG’s earnings is pegged at $6.66 per unit, suggesting a significant improvement from the prior-year reported figure.
Occidental Petroleum Corporation (OXY - Free Report) has an Earnings ESP of +1.78% and it currently carries a Zacks Rank #2.
Occidental is scheduled to release second-quarter earnings on Aug 2. The Zacks Consensus Estimate for OXY’s earnings is pegged at $2.93 per share, suggesting a significant increase from the prior-year reported figure.