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Sunoco (SUN) Set to Report Q2 Earnings: Is a Beat in Store?
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Sunoco LP (SUN - Free Report) is set to report second-quarter 2022 results on Aug 3, before the opening bell.
In the last reported quarter, the master limited partnership’s earnings of $2.32 per unit comfortably beat the Zacks Consensus Estimate of 89 cents due to higher motor fuel and non-motor fuel sales.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line two times and missed the same twice, delivering an earnings surprise of 51.6%, on average. This is depicted in the graph below:
Let’s delve into the factors that are anticipated to have influenced the partnership’s performance in the June-end quarter.
Estimate Trend
The Zacks Consensus Estimate for its second-quarter earnings per unit of $1.14 has witnessed no upward revision and one downward movement in the past 30 days. This suggests a year-over-year decline of 34.1%.
The Zacks Consensus Estimate for its revenues for the June-end quarter is pegged at $6.5 billion, suggesting a year-over-year rise of 47.4%.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for Sunoco 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 the case here.
Earnings ESP: Sunoco has an Earnings ESP of +16.67%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.33 per share, whereas the Zacks Consensus Estimate is pinned at $1.14 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #3.
Factors to Note
In the June-end quarter, the demand for motor fuel is likely to have improved on the back of a strong economic recovery. Sunoco is expected to have benefited from the development as it is among the largest motor fuel distributors in the U.S. wholesale market by volume.
The Zacks Consensus Estimate for Sunoco’s motor fuel sales in the second quarter is pegged at $6,789 million, suggesting an improvement from $4,292 million in the year-ago quarter.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Canadian Natural Resources Limited (CNQ - Free Report) currently has an Earnings ESP of +0.84% and a Zacks Rank of 3.
Canadian Natural Resources is scheduled to report second-quarter results on Aug 4. The Zacks Consensus Estimate for CNQ’s earnings is pegged at $2.08 per share, suggesting a massive increase from the prior-year reported figure.
Occidental Petroleum Corporation (OXY - Free Report) currently has an Earnings ESP of +1.78% and 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.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +1.76% and a Zacks Rank of 2 at present.
Enterprise Products is scheduled to report second-quarter results on Aug 3. The Zacks Consensus Estimate for EPD’s earnings is pegged at 63 cents per share, suggesting a significant increase from the prior-year reported figure.
Image: Bigstock
Sunoco (SUN) Set to Report Q2 Earnings: Is a Beat in Store?
Sunoco LP (SUN - Free Report) is set to report second-quarter 2022 results on Aug 3, before the opening bell.
In the last reported quarter, the master limited partnership’s earnings of $2.32 per unit comfortably beat the Zacks Consensus Estimate of 89 cents due to higher motor fuel and non-motor fuel sales.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line two times and missed the same twice, delivering an earnings surprise of 51.6%, on average. This is depicted in the graph below:
Sunoco LP Price and EPS Surprise
Sunoco LP price-eps-surprise | Sunoco LP Quote
Let’s delve into the factors that are anticipated to have influenced the partnership’s performance in the June-end quarter.
Estimate Trend
The Zacks Consensus Estimate for its second-quarter earnings per unit of $1.14 has witnessed no upward revision and one downward movement in the past 30 days. This suggests a year-over-year decline of 34.1%.
The Zacks Consensus Estimate for its revenues for the June-end quarter is pegged at $6.5 billion, suggesting a year-over-year rise of 47.4%.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for Sunoco 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 the case here.
Earnings ESP: Sunoco has an Earnings ESP of +16.67%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.33 per share, whereas the Zacks Consensus Estimate is pinned at $1.14 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Sunoco currently carries a Zacks Rank #3.
Factors to Note
In the June-end quarter, the demand for motor fuel is likely to have improved on the back of a strong economic recovery. Sunoco is expected to have benefited from the development as it is among the largest motor fuel distributors in the U.S. wholesale market by volume.
The Zacks Consensus Estimate for Sunoco’s motor fuel sales in the second quarter is pegged at $6,789 million, suggesting an improvement from $4,292 million in the year-ago quarter.
Other Stocks That Warrant a Look
Here are some other companies from the Energy space that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Canadian Natural Resources Limited (CNQ - Free Report) currently has an Earnings ESP of +0.84% and a Zacks Rank of 3.
Canadian Natural Resources is scheduled to report second-quarter results on Aug 4. The Zacks Consensus Estimate for CNQ’s earnings is pegged at $2.08 per share, suggesting a massive increase from the prior-year reported figure.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Occidental Petroleum Corporation (OXY - Free Report) currently has an Earnings ESP of +1.78% and 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.
Enterprise Products Partners L.P. (EPD - Free Report) has an Earnings ESP of +1.76% and a Zacks Rank of 2 at present.
Enterprise Products is scheduled to report second-quarter results on Aug 3. The Zacks Consensus Estimate for EPD’s earnings is pegged at 63 cents per share, suggesting a significant increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.