Intrepid Potash, Inc. ( IPI Quick Quote IPI - Free Report) is set to release second-quarter 2022 results on Aug 4, after the closing bell. The company delivered an earnings surprise of around 14%, on average, over the trailing four quarters. Its second-quarter results are likely to reflect the benefits of higher prices and strong demand for its products. Shares of Intrepid Potash have gained 33% in the past year compared with 55.5% rise of the industry.
Image Source: Zacks Investment Research Let’s see how things are shaping up for this announcement. What Do the Estimates Indicate?
The Zacks Consensus Estimate for Intrepid Potash’s second-quarter consolidated sales is currently pegged at $84.8 million, which calls for an increase of 46.7% from the year-ago quarter’s tally.
Some Factors at Play
Intrepid Potash is likely to have benefited from strong demand and higher net realized sales price per ton for its potash and Trio products in the second quarter. A strong commodity environment and higher fertilizer prices are expected to have supported its results in the quarter. A recovery in economic activities and the strength in commodity prices are likely to have driven demand for its specialty fertilizer, Trio.
Higher pricing is likely to have driven sales across the company’s Potash and Trio segments in the quarter to be reported. Potash prices are expected to have been supported by tight supply and firm demand across IPI’s markets. Oilfield Solutions unit is expected to have benefited from an improvement in oilfield activity.
Our proven model does not conclusively predict an earnings beat for Intrepid Potash 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 Intrepid Potash is 0.00%. The Zacks Consensus Estimate for earnings for the second quarter is currently pegged at $1.92. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Zacks Rank: Intrepid Potash 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:
Cabot Corporation ( CBT Quick Quote CBT - Free Report) , slated to release earnings on Aug 8, has an Earnings ESP of +0.16% and sports a Zacks Rank #1. You can see . the complete list of today’s Zacks #1 Rank stocks here The consensus estimate for Cabot’s fiscal third-quarter earnings has been revised 1% upward in the past 60 days. The Zacks Consensus Estimate for CBT’s earnings for the quarter is pegged at $1.53. ATI Inc. ( ATI Quick Quote ATI - Free Report) , scheduled to release earnings on Aug 4, has an Earnings ESP of +0.90% and carries a Zacks Rank #2. The Zacks Consensus Estimate for ATI’s second-quarter earnings has been revised 17.8% upward in the past 60 days. The consensus estimate for ATI’s earnings for the quarter is currently pegged at 37 cents. Air Products and Chemicals, Inc. ( APD Quick Quote APD - Free Report) , slated to release earnings on Aug 4, has an Earnings ESP of +0.29% and carries a Zacks Rank #3. The Zacks Consensus Estimate for Air Products’ fiscal third-quarter earnings has been stable over the past 60 days. The consensus estimate for APD’s earnings for the quarter stands at $2.61. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.