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Is a Beat in the Cards for Sunoco (SUN) in Q4 Earnings?
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Sunoco LP (SUN - Free Report) is set to report fourth-quarter 2022 results on Feb 15, before the opening bell.
The master limited partnership’s third-quarter earnings of 75 cents per unit missed the Zacks Consensus Estimate of $1.14 due to higher total cost of sales and operating expenses.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 28.8%, 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 December-end quarter.
Estimate Trend
The Zacks Consensus Estimate for Sunoco’s fourth-quarter earnings per unit of 77 cents has witnessed two upward revisions and no downward movement in the past 30 days. This suggests a year-over-year decline of 19%.
The Zacks Consensus Estimate for the company’s revenues for the December-end quarter is pegged at $5.9 billion, suggesting a year-over-year rise of 18.3%.
Earnings Whispers
Our proven model 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 +1.95%. This is because the Most Accurate Estimate is pegged at earnings of 79 cents per share, whereas the Zacks Consensus Estimate is pegged at 77 cents 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 sports a Zacks Rank #1.
Factors to Consider
In the December-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 fourth quarter is pegged at $6,071 million, suggesting an increase from $4,831 million recorded in the year-ago quarter. Our estimate for the partnership’s motor fuel sales in the fourth quarter is pegged at $5,456.3 million, also suggesting an improvement from the year-ago quarter’s reported figure.
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:
Oceaneering International, Inc. (OII - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3.
Oceaneering is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for OII’s quarterly earnings is pegged at 18 cents per share, suggesting an increase from the prior-year reported figure.
Antero Midstream Corporation (AM - Free Report) has an Earnings ESP of +1.45% and a Zacks Rank of 2.
Antero Midstream is scheduled to report fourth-quarter results on Feb 15. The Zacks Consensus Estimate for AM’s earnings is pegged at 17 cents per share, suggesting a decline from the prior-year reported figure.
Occidental Petroleum Corporation (OXY - Free Report) is likely to beat earnings estimates when it releases fourth-quarter 2022 numbers on Feb 27. OXY has an Earnings ESP of +0.24% and a Zacks Rank #3.
The Zacks Consensus Estimate for OXY’s earnings is pegged at $1.74 per share, suggesting an improvement from the prior-year reported figure.
Image: Bigstock
Is a Beat in the Cards for Sunoco (SUN) in Q4 Earnings?
Sunoco LP (SUN - Free Report) is set to report fourth-quarter 2022 results on Feb 15, before the opening bell.
The master limited partnership’s third-quarter earnings of 75 cents per unit missed the Zacks Consensus Estimate of $1.14 due to higher total cost of sales and operating expenses.
In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 28.8%, 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 December-end quarter.
Estimate Trend
The Zacks Consensus Estimate for Sunoco’s fourth-quarter earnings per unit of 77 cents has witnessed two upward revisions and no downward movement in the past 30 days. This suggests a year-over-year decline of 19%.
The Zacks Consensus Estimate for the company’s revenues for the December-end quarter is pegged at $5.9 billion, suggesting a year-over-year rise of 18.3%.
Earnings Whispers
Our proven model 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 +1.95%. This is because the Most Accurate Estimate is pegged at earnings of 79 cents per share, whereas the Zacks Consensus Estimate is pegged at 77 cents 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 sports a Zacks Rank #1.
Factors to Consider
In the December-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 fourth quarter is pegged at $6,071 million, suggesting an increase from $4,831 million recorded in the year-ago quarter. Our estimate for the partnership’s motor fuel sales in the fourth quarter is pegged at $5,456.3 million, also suggesting an improvement from the year-ago quarter’s reported figure.
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:
Oceaneering International, Inc. (OII - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3.
Oceaneering is scheduled to release fourth-quarter results on Feb 23. The Zacks Consensus Estimate for OII’s quarterly earnings is pegged at 18 cents per share, suggesting an increase from the prior-year reported figure.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Antero Midstream Corporation (AM - Free Report) has an Earnings ESP of +1.45% and a Zacks Rank of 2.
Antero Midstream is scheduled to report fourth-quarter results on Feb 15. The Zacks Consensus Estimate for AM’s earnings is pegged at 17 cents per share, suggesting a decline from the prior-year reported figure.
Occidental Petroleum Corporation (OXY - Free Report) is likely to beat earnings estimates when it releases fourth-quarter 2022 numbers on Feb 27. OXY has an Earnings ESP of +0.24% and a Zacks Rank #3.
The Zacks Consensus Estimate for OXY’s earnings is pegged at $1.74 per share, suggesting an improvement from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.