Lumen Technologies, Inc. ( LUMN Quick Quote LUMN - Free Report) is scheduled to report second-quarter 2022 results on Aug 3, after the closing bell. The Zacks Consensus Estimate for second-quarter total revenues is pegged at $4.6 billion, suggesting a fall of 6.6% from the year-earlier quarter’s reported figure. The consensus mark for earnings is currently pegged at 46 cents per share, indicating a 4.2% decline from the year-ago quarter’s levels. In the last reported quarter, the Monroe, LA-based telecommunications company delivered adjusted earnings (excluding special items) of 63 cents per share compared with 44 cents per share in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate by 37%. Quarterly revenues slipped 7% year over year to $4,676 million, owing to the conclusion of the CAF II program and seasonal factors in its Enterprise business. The top line lagged the consensus estimate by 0.1%. The company surpassed the Zacks Consensus Estimate in the last four quarters. It has a trailing four-quarter earnings surprise of 17.6%, on average. Earnings Whispers
Our proven model does predict an earnings beat for Lumen this time around. The combination of a positive
Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Lumen has an Earnings ESP of 1.73% and a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Stocks to Consider
Here are a few companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Occidental Petroleum Corporation ( OXY Quick Quote OXY - Free Report) has an Earnings ESP of +1.78% and a Zacks Rank #2 currently. Occidental Petroleum is scheduled to report earnings results on Aug 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Occidental Petroleum’s to-be-reported quarter’s earnings and revenues is pegged at $2.93 per share and $9.74 billion, respectively. Occidental Petroleum delivered an average surprise of 26.2% in the preceding four quarters. Shares of OXY have soared 126.8% in the past year.
Suncor Energy ( SU Quick Quote SU - Free Report) has an Earnings ESP of +11.91% and currently flaunts a Zacks Rank #2. SU is slated to release quarterly numbers on Aug 4.
The Zacks Consensus Estimate for SU’s to-be-reported quarter’s earnings and revenues is pegged at $1.74 per share and $9.9 billion, respectively. SU surpassed earnings estimates in two of the preceding four quarters, delivering an average surprise of 3.6%. Shares of SU have gained 35.6% in the past year.
MercadoLibre, Inc ( MELI Quick Quote MELI - Free Report) has an Earnings ESP of +16.2% and a Zacks Rank #3 currently. MELI is slated to release quarterly numbers on Aug 3.
The Zacks Consensus Estimate for MELI’s to-be-reported quarter’s earnings and revenues is pegged at $1.68 per share and $2.47 billion, respectively. MELI surpassed earnings estimates in two of the preceding four quarters and missed in the remaining quarters. The average surprise stands at 312.1%.
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