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In the last reported quarter, Wheaton Precious’ earnings and revenues declined year over year. The company missed the Zacks Consensus Estimate on both metrics. The company has a trailing four-quarter negative earnings surprise of 1.5%, on average.
Q4 Estimates
The Zacks Consensus Estimate for fourth-quarter 2022 earnings per share is currently pegged at 24 cents, suggesting a decline of 17% from the prior-year quarter’s levels. The estimate has remained unchanged over the past 30 days. The estimate for total revenues is pegged at $243.8 million, indicating a year-over-year drop of 12.4%.
Wheaton Precious Metals Corp. Price and EPS Surprise
Wheaton Precious recently announced that its production numbers for 2022 which will provide an idea of how the company will likely to fare in its fourth-quarter results. The company produced 286,985 ounces of gold, lower than the guidance of 300,000 to 320,000 ounces. The figure came in 16% lower than the prior year. This implies fourth-quarter gold production of around 68,981 ounces. The figure indicates a year-over-year slump of 21%. The company sold 293,234 ounces of gold, down 6% year over year. This implies sales of 68,996 ounces of gold in the fourth quarter of 2022, down 13% from the 79,622 ounces of gold sold in the last year quarter.
WPM produced 23,979 ounces of silver in 2022, which was within the guidance of 22,500 to 24,000 ounces. This implies fourth-quarter production of 5,326 ounces of silver, reflecting a year-over-year decline of 16% from the fourth quarter of 2021. Silver sales were recorded at 21,570 ounces in 2022, down 6% year over year. This suggests silver sales of around 4,935 ounces, which marked a 3% drop from the last year quarter.
Gold Equivalent Ounces (GEOs) produced in 2022 were 638,048 ounces, which was down 15.7% compared with 756,444 ounces in 2021. It missed the company’s guidance of 640,000 to 680,000 ounces. Stronger-than-expected production at Antamina due to higher grades, were offset by weaker-than-expected production from Salobo due to lower throughput and grades as a result of changes in maintenance routines. Reduced output at Stillwater as a result of significant regional flooding that impacted operations primarily in the second half of the year also impacted results.
The fourth-quarter GEOs were at around 144,260 ounces that marked a 23% slump year over year. In 2022, WPM sold 617,450 GEOs, down 6% from 2021 levels. Fourth-quarter GEOs sold were around 142,190 ounces, down 10% year over year.
Overall, lower sales volumes and lower gold and silver prices witnessed through the quarter amid persistently high inflation and high-interest rates are likely to have impacted Wheaton Precious’ fourth-quarter 2022 revenues.
What Our Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Wheaton Precious 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. You can see the complete list of today's Zacks #1 Rank stocks here.
Earnings ESP: The Earnings ESP for WPM is -0.69%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Price Performance
Image Source: Zacks Investment Research
Wheaton Precious’ shares have declined 12.6% in the past year compared with the industry’s 17.5% fall.
Other Stocks Poised to Beat Estimates
Here are some stocks, which have the right combination of elements to post an earnings beat in their upcoming releases.
Ulta Beauty (ULTA - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +8.53%. The company is slated to report fourth-quarter fiscal 2023 results on Mar 9. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 26.2%.
The Zacks Consensus Estimate for ULTA’s fourth-quarter earnings stands at $5.53 per share, implying a year-over-year increase of 2.2%. It is estimated to report revenues of $3.01 billion, which suggests an increase of 10.3% from the year-ago quarter.
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +2.38%. The company is expected to report fourth-quarter 2022 results on Mar 9. Its earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 73.3%.
The Zacks Consensus Estimate for GLNG’s fourth-quarter earnings is pegged at 42 cents per share, indicating a year-over-year increase of 90.9%. The consensus mark for revenues stands at $69 million, suggesting a year-over-year decrease of 40.2%.
Arhaus (ARHS - Free Report) is slated to report fourth-quarter 2022 results on Mar 9. The company has a Zacks Rank #2 and an Earnings ESP of +1.69% at present. ARHS’ earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 112%.
The Zacks Consensus Estimate for ARHS’ fourth-quarter earnings is pegged at 20 cents per share, suggesting an increase of 42.9% from the year-ago quarter’s earnings of 14 cents. Arhaus’ quarterly revenues are estimated to increase 48.7% year over year to $354.3 million.
Image: Bigstock
Wheaton Precious (WPM) to Report Q4 Earnings: What's in Store?
Wheaton Precious Metals (WPM - Free Report) will release fourth-quarter 2022 results on Mar 9, after market close.
Q3 Results
In the last reported quarter, Wheaton Precious’ earnings and revenues declined year over year. The company missed the Zacks Consensus Estimate on both metrics. The company has a trailing four-quarter negative earnings surprise of 1.5%, on average.
Q4 Estimates
The Zacks Consensus Estimate for fourth-quarter 2022 earnings per share is currently pegged at 24 cents, suggesting a decline of 17% from the prior-year quarter’s levels. The estimate has remained unchanged over the past 30 days. The estimate for total revenues is pegged at $243.8 million, indicating a year-over-year drop of 12.4%.
Wheaton Precious Metals Corp. Price and EPS Surprise
Wheaton Precious Metals Corp. price-eps-surprise | Wheaton Precious Metals Corp. Quote
Factors at Play
Wheaton Precious recently announced that its production numbers for 2022 which will provide an idea of how the company will likely to fare in its fourth-quarter results. The company produced 286,985 ounces of gold, lower than the guidance of 300,000 to 320,000 ounces. The figure came in 16% lower than the prior year. This implies fourth-quarter gold production of around 68,981 ounces. The figure indicates a year-over-year slump of 21%. The company sold 293,234 ounces of gold, down 6% year over year. This implies sales of 68,996 ounces of gold in the fourth quarter of 2022, down 13% from the 79,622 ounces of gold sold in the last year quarter.
WPM produced 23,979 ounces of silver in 2022, which was within the guidance of 22,500 to 24,000 ounces. This implies fourth-quarter production of 5,326 ounces of silver, reflecting a year-over-year decline of 16% from the fourth quarter of 2021. Silver sales were recorded at 21,570 ounces in 2022, down 6% year over year. This suggests silver sales of around 4,935 ounces, which marked a 3% drop from the last year quarter.
Gold Equivalent Ounces (GEOs) produced in 2022 were 638,048 ounces, which was down 15.7% compared with 756,444 ounces in 2021. It missed the company’s guidance of 640,000 to 680,000 ounces. Stronger-than-expected production at Antamina due to higher grades, were offset by weaker-than-expected production from Salobo due to lower throughput and grades as a result of changes in maintenance routines. Reduced output at Stillwater as a result of significant regional flooding that impacted operations primarily in the second half of the year also impacted results.
The fourth-quarter GEOs were at around 144,260 ounces that marked a 23% slump year over year. In 2022, WPM sold 617,450 GEOs, down 6% from 2021 levels. Fourth-quarter GEOs sold were around 142,190 ounces, down 10% year over year.
Overall, lower sales volumes and lower gold and silver prices witnessed through the quarter amid persistently high inflation and high-interest rates are likely to have impacted Wheaton Precious’ fourth-quarter 2022 revenues.
What Our Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Wheaton Precious 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. You can see the complete list of today's Zacks #1 Rank stocks here.
Earnings ESP: The Earnings ESP for WPM is -0.69%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
Price Performance
Image Source: Zacks Investment Research
Wheaton Precious’ shares have declined 12.6% in the past year compared with the industry’s 17.5% fall.
Other Stocks Poised to Beat Estimates
Here are some stocks, which have the right combination of elements to post an earnings beat in their upcoming releases.
Ulta Beauty (ULTA - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +8.53%. The company is slated to report fourth-quarter fiscal 2023 results on Mar 9. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 26.2%.
The Zacks Consensus Estimate for ULTA’s fourth-quarter earnings stands at $5.53 per share, implying a year-over-year increase of 2.2%. It is estimated to report revenues of $3.01 billion, which suggests an increase of 10.3% from the year-ago quarter.
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +2.38%. The company is expected to report fourth-quarter 2022 results on Mar 9. Its earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 73.3%.
The Zacks Consensus Estimate for GLNG’s fourth-quarter earnings is pegged at 42 cents per share, indicating a year-over-year increase of 90.9%. The consensus mark for revenues stands at $69 million, suggesting a year-over-year decrease of 40.2%.
Arhaus (ARHS - Free Report) is slated to report fourth-quarter 2022 results on Mar 9. The company has a Zacks Rank #2 and an Earnings ESP of +1.69% at present. ARHS’ earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 112%.
The Zacks Consensus Estimate for ARHS’ fourth-quarter earnings is pegged at 20 cents per share, suggesting an increase of 42.9% from the year-ago quarter’s earnings of 14 cents. Arhaus’ quarterly revenues are estimated to increase 48.7% year over year to $354.3 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.