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Is a Beat in the Offing for NexTier (NEX) in Q3 Earnings?
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NexTier Oilfield Solutions Inc. is set to report third-quarter 2022 results on Oct 25, after the closing bell.
In the last reported quarter, the oilfield service provider’s earnings of 39 cents per share beat the Zacks Consensus Estimate of 35 cents.
In the trailing four quarters, NexTier beat the Zacks Consensus Estimate for earnings thrice and met the same once, delivering an earnings surprise of 269.5%, on average. This is depicted in the graph below:
NexTier Oilfield Solutions Inc. Price and EPS Surprise
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings per share of 50 cents has witnessed no upward and downward movement in the past 30 days. The consensus estimate suggests a massive improvement from the year-ago quarter’s loss of 11 cents.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $922 million indicates a 134.6% year-over-year improvement.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for NexTier 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: NexTier has an Earnings ESP of +1.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: NexTier currently flaunts a Zacks Rank #1.
Factors to Consider
Oil prices were significantly higher in the September-end quarter of this year. The strong oil price scenario was favorable for exploration and production activities, which have likely driven the demand for oilfield services. With higher exploration activities, the demand for oilfield services is expected to have been favorable for NexTier in the to-be-reported quarter.
The Zacks Consensus Estimate for revenues for NexTier’s Completion Services segment is pegged at $881 million, indicating an increase from $366 million reported in the year-ago period. Higher revenues are likely to have aided NexTier’s profits in the third 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:
Schlumberger is scheduled to release third-quarter results on Oct 21. The Zacks Consensus Estimate for SLB’s earnings is pegged at 55 cents per share, suggesting an increase of 52.8% from the prior-year reported figure.
EQT Corporation (EQT - Free Report) has an Earnings ESP of +24.24% and is currently a Zacks #2 Ranked player.
EQT Corp is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for EQT’s earnings is pegged at $1.11 per share, suggesting a massive improvement from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +1.54% and a Zacks Rank #2.
Halliburton is scheduled to release third-quarter earnings on Oct 25. The Zacks Consensus Estimate for HAL’s earnings is pegged at 56 cents per share, suggesting a 100% increase from the prior-year reported figure.
Image: Bigstock
Is a Beat in the Offing for NexTier (NEX) in Q3 Earnings?
NexTier Oilfield Solutions Inc. is set to report third-quarter 2022 results on Oct 25, after the closing bell.
In the last reported quarter, the oilfield service provider’s earnings of 39 cents per share beat the Zacks Consensus Estimate of 35 cents.
In the trailing four quarters, NexTier beat the Zacks Consensus Estimate for earnings thrice and met the same once, delivering an earnings surprise of 269.5%, on average. This is depicted in the graph below:
NexTier Oilfield Solutions Inc. Price and EPS Surprise
NexTier Oilfield Solutions Inc. price-eps-surprise | NexTier Oilfield Solutions Inc. Quote
Let’s see how things have shaped up prior to the announcement.
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings per share of 50 cents has witnessed no upward and downward movement in the past 30 days. The consensus estimate suggests a massive improvement from the year-ago quarter’s loss of 11 cents.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $922 million indicates a 134.6% year-over-year improvement.
Earnings Whispers
Our proven model conclusively predicts an earnings beat for NexTier 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: NexTier has an Earnings ESP of +1.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: NexTier currently flaunts a Zacks Rank #1.
Factors to Consider
Oil prices were significantly higher in the September-end quarter of this year. The strong oil price scenario was favorable for exploration and production activities, which have likely driven the demand for oilfield services. With higher exploration activities, the demand for oilfield services is expected to have been favorable for NexTier in the to-be-reported quarter.
The Zacks Consensus Estimate for revenues for NexTier’s Completion Services segment is pegged at $881 million, indicating an increase from $366 million reported in the year-ago period. Higher revenues are likely to have aided NexTier’s profits in the third 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:
Schlumberger Limited (SLB - Free Report) has an Earnings ESP of +0.23% and is a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Schlumberger is scheduled to release third-quarter results on Oct 21. The Zacks Consensus Estimate for SLB’s earnings is pegged at 55 cents per share, suggesting an increase of 52.8% from the prior-year reported figure.
EQT Corporation (EQT - Free Report) has an Earnings ESP of +24.24% and is currently a Zacks #2 Ranked player.
EQT Corp is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for EQT’s earnings is pegged at $1.11 per share, suggesting a massive improvement from the prior-year reported figure.
Halliburton Company (HAL - Free Report) has an Earnings ESP of +1.54% and a Zacks Rank #2.
Halliburton is scheduled to release third-quarter earnings on Oct 25. The Zacks Consensus Estimate for HAL’s earnings is pegged at 56 cents per share, suggesting a 100% increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.