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Eni (E) Scheduled to Report Q3 Earnings: What's in the Cards?
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Eni SPA (E - Free Report) is set to report third-quarter 2022 results on Oct 28, after the closing bell.
In the last reported quarter, the Italian energy major’s adjusted earnings from continuing operations of $2.28 per American Depository Receipt beat the Zacks Consensus Estimate of $1.85 due to higher realizations of average liquid and natural gas prices.
Eni beat the Zacks Consensus Estimate for earnings in the trailing four quarters, delivering a beat of 17.8%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for Eni’s third-quarter earnings per share of $2.04 has witnessed no upward and downward movement in the past 30 days. The consensus estimate suggests an increase of 119.4% from the year-ago reported number.
Key Factors
Oil and natural gas prices were considerably higher in the September-end quarter of this year. Higher commodity prices were favorable for the exploration and production operations of Eni in the to-be-reported quarter as it holds interests in multiple exploration and production blocks in the shallow and deep offshore waters of the Gulf of Mexico.
Eni is also expected to have reaped the reward of a better macro environment in its downstream unit. With the post-pandemic demand recovery driving margins, the company is likely to have seen a year-over-year segmental earnings surge.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Eni 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: Eni has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at earnings of $2.04 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eni currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +1.04% and currently flaunts a Zacks Rank of 1.
Comstock is scheduled to report third-quarter results 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.
Chevron Corporation (CVX - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3.
Chevron is scheduled to release third-quarter earnings on Oct 28. The Zacks Consensus Estimate for CVX’s earnings is pegged at $5.10 per share, suggesting a massive improvement from the prior-year reported figure.
Image: Bigstock
Eni (E) Scheduled to Report Q3 Earnings: What's in the Cards?
Eni SPA (E - Free Report) is set to report third-quarter 2022 results on Oct 28, after the closing bell.
In the last reported quarter, the Italian energy major’s adjusted earnings from continuing operations of $2.28 per American Depository Receipt beat the Zacks Consensus Estimate of $1.85 due to higher realizations of average liquid and natural gas prices.
Eni beat the Zacks Consensus Estimate for earnings in the trailing four quarters, delivering a beat of 17.8%, on average. This is depicted in the graph below:
Eni SpA Price and EPS Surprise
Eni SpA price-eps-surprise | Eni SpA Quote
Estimate Trend
The Zacks Consensus Estimate for Eni’s third-quarter earnings per share of $2.04 has witnessed no upward and downward movement in the past 30 days. The consensus estimate suggests an increase of 119.4% from the year-ago reported number.
Key Factors
Oil and natural gas prices were considerably higher in the September-end quarter of this year. Higher commodity prices were favorable for the exploration and production operations of Eni in the to-be-reported quarter as it holds interests in multiple exploration and production blocks in the shallow and deep offshore waters of the Gulf of Mexico.
Eni is also expected to have reaped the reward of a better macro environment in its downstream unit. With the post-pandemic demand recovery driving margins, the company is likely to have seen a year-over-year segmental earnings surge.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Eni 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: Eni has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at earnings of $2.04 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eni currently carries a Zacks Rank #2.
Stocks That Warrant a Look
Here are some firms that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Core Laboratories N.V. (CLB - Free Report) has an Earnings ESP of +1.70% and is a Zacks #2 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Core Laboratories is scheduled to release third-quarter results on Oct 26. The Zacks Consensus Estimate for CLB’s earnings is pegged at 15 cents per share, suggesting a decline from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +1.04% and currently flaunts a Zacks Rank of 1.
Comstock is scheduled to report third-quarter results 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.
Chevron Corporation (CVX - Free Report) currently has an Earnings ESP of +0.28% and a Zacks Rank #3.
Chevron is scheduled to release third-quarter earnings on Oct 28. The Zacks Consensus Estimate for CVX’s earnings is pegged at $5.10 per share, suggesting a massive improvement from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.