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What Awaits Plains All American Pipeline (PAA) in Q1 Earnings?
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Plains All American Pipeline (PAA - Free Report) is scheduled to release first-quarter 2023 results on May 5, before market open. The company delivered a negative earnings surprise of 5.71% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Plains All American Pipeline’s first-quarter earnings are expected to have benefited from increased volumes in its Crude oil segment in the Permian region. The bottom line is also likely to have gained from the company’s continuous debt reduction initiatives that led to lower capital servicing expenses.
However, lower crude oil prices might have adversely impacted the company’s earnings in the soon-to-be reported quarter.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 34 cents per unit, indicating a year-over-year increase of 9.7%.
The same for revenues is pinned at $17.78 billion, implying a year-over-year improvement of 29.8%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Plains All American Pipeline this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Plains All American Pipeline, L.P. Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Plains All American Pipeline carries a Zacks Rank #3.
Stocks to Consider
Investors may consider the following players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
The Zacks Consensus Estimate for earnings is pinned at $2.38 per share, indicating a year-over-year increase of 580%.
Permian Resources Corporation (PR - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 8, after market close. It has an Earnings ESP of +2.33% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at 39 cents, implying a year-over-year improvement of 5.41%.
Canadian Solar Inc. (CSIQ - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 18, before market open. It has an Earnings ESP of +51.58% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at 48 cents, indicating a year-over-year improvement of 242.86%.
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What Awaits Plains All American Pipeline (PAA) in Q1 Earnings?
Plains All American Pipeline (PAA - Free Report) is scheduled to release first-quarter 2023 results on May 5, before market open. The company delivered a negative earnings surprise of 5.71% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
Plains All American Pipeline’s first-quarter earnings are expected to have benefited from increased volumes in its Crude oil segment in the Permian region. The bottom line is also likely to have gained from the company’s continuous debt reduction initiatives that led to lower capital servicing expenses.
However, lower crude oil prices might have adversely impacted the company’s earnings in the soon-to-be reported quarter.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 34 cents per unit, indicating a year-over-year increase of 9.7%.
The same for revenues is pinned at $17.78 billion, implying a year-over-year improvement of 29.8%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Plains All American Pipeline this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Plains All American Pipeline, L.P. Price and EPS Surprise
Plains All American Pipeline, L.P. price-eps-surprise | Plains All American Pipeline, L.P. Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Plains All American Pipeline carries a Zacks Rank #3.
Stocks to Consider
Investors may consider the following players from the same sector that have the right combination of elements to come up with an earnings beat this reporting cycle.
PBF Energy (PBF - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 5, before market open. It has an Earnings ESP of +7.07% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for earnings is pinned at $2.38 per share, indicating a year-over-year increase of 580%.
Permian Resources Corporation (PR - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 8, after market close. It has an Earnings ESP of +2.33% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at 39 cents, implying a year-over-year improvement of 5.41%.
Canadian Solar Inc. (CSIQ - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 18, before market open. It has an Earnings ESP of +51.58% and a Zacks Rank #3 at present.
The bottom-line estimate is pegged at 48 cents, indicating a year-over-year improvement of 242.86%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.