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Is a Beat in the Offing for Southwestern's (SWN) Q3 Earnings?
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Southwestern Energy Company (SWN - Free Report) is set to report third-quarter 2022 earnings results on Oct 27, after the closing bell.
In the last reported quarter, the upstream energy player’s earnings of 33 cents per share beat the Zacks Consensus Estimate of 31 cents, owing to higher natural gas production volumes and commodity price realizations.
Southwestern’s bottom line beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 8.2%. This is depicted in the graph below:
Southwestern Energy Company Price and EPS Surprise
Let’s delve into the factors that are anticipated to have influenced Southwestern’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for Southwestern’s third-quarter earnings per share of 31 cents has witnessed one upward revision and four downward movements in the past 30 days. The estimate suggests a 29.2% increase from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $2 billion indicates a 24.8% improvement from the year-ago reported figure.
Factors to Consider
Oil and natural gas prices were significantly higher in the September-end quarter of this year. Higher commodity prices are expected to have aided Southwestern’s operations in the third quarter, as the company holds significant properties in the prolific Appalachian Basin, which is famous for its natural gas reservoirs.
The Zacks Consensus Estimate for Southwestern’s total production is pegged at 436 billion cubic feet equivalent (Bcfe), suggesting an increase from 310 Bcfe reported in the year-ago quarter. Also, the Zacks Consensus Estimate for its total gas production is pegged at 317 billion cubic feet (Bcf), indicating an improvement from 251 Bcf recorded in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Southwestern 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 not the case here.
Earnings ESP: Southwestern’s Earnings ESP is -3.8%. This is because the Most Accurate Estimate is currently pegged at earnings of 30 cents per share, whereas the Zacks Consensus Estimate is pegged at 31 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some companies that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Devon is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for DVN’s quarterly earnings is pegged at $2.13 per share, suggesting an improvement from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +1.04% and currently sports a Zacks Rank #1.
Comstock is scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.16 per share, suggesting a significant increase from the prior-year reported figure.
Sunoco LP (SUN - Free Report) currently has an Earnings ESP of +3.51% and a Zacks Rank #3.
Sunoco is scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for SUN’s earnings is pegged at $1.14 per share, suggesting an improvement from the prior-year reported figure.
Image: Bigstock
Is a Beat in the Offing for Southwestern's (SWN) Q3 Earnings?
Southwestern Energy Company (SWN - Free Report) is set to report third-quarter 2022 earnings results on Oct 27, after the closing bell.
In the last reported quarter, the upstream energy player’s earnings of 33 cents per share beat the Zacks Consensus Estimate of 31 cents, owing to higher natural gas production volumes and commodity price realizations.
Southwestern’s bottom line beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 8.2%. This is depicted in the graph below:
Southwestern Energy Company Price and EPS Surprise
Southwestern Energy Company price-eps-surprise | Southwestern Energy Company Quote
Let’s delve into the factors that are anticipated to have influenced Southwestern’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for Southwestern’s third-quarter earnings per share of 31 cents has witnessed one upward revision and four downward movements in the past 30 days. The estimate suggests a 29.2% increase from the year-ago reported figure.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $2 billion indicates a 24.8% improvement from the year-ago reported figure.
Factors to Consider
Oil and natural gas prices were significantly higher in the September-end quarter of this year. Higher commodity prices are expected to have aided Southwestern’s operations in the third quarter, as the company holds significant properties in the prolific Appalachian Basin, which is famous for its natural gas reservoirs.
The Zacks Consensus Estimate for Southwestern’s total production is pegged at 436 billion cubic feet equivalent (Bcfe), suggesting an increase from 310 Bcfe reported in the year-ago quarter. Also, the Zacks Consensus Estimate for its total gas production is pegged at 317 billion cubic feet (Bcf), indicating an improvement from 251 Bcf recorded in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Southwestern 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 not the case here.
Earnings ESP: Southwestern’s Earnings ESP is -3.8%. This is because the Most Accurate Estimate is currently pegged at earnings of 30 cents per share, whereas the Zacks Consensus Estimate is pegged at 31 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks to Consider
Here are some companies that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Devon Energy Corporation (DVN - Free Report) has an Earnings ESP of +0.29% and is currently a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Devon is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for DVN’s quarterly earnings is pegged at $2.13 per share, suggesting an improvement from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +1.04% and currently sports a Zacks Rank #1.
Comstock is scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at $1.16 per share, suggesting a significant increase from the prior-year reported figure.
Sunoco LP (SUN - Free Report) currently has an Earnings ESP of +3.51% and a Zacks Rank #3.
Sunoco is scheduled to release third-quarter earnings on Nov 1. The Zacks Consensus Estimate for SUN’s earnings is pegged at $1.14 per share, suggesting an improvement from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.