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Riley Permian (REPX) to Report Q1 Earnings: What to Expect?
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Riley Exploration Permian Inc. (REPX - Free Report) is set to report first-quarter 2023 results on May 8 after the closing bell.
In the last reported quarter, the upstream energy company’s earnings were $5.06 per share, beating the Zacks Consensus Estimate of $4.48.
In the trailing four quarters, Riley Permian beat the Zacks Consensus Estimate for the bottom line thrice and missed the same once, delivering an earnings surprise of 12.7%, on average. This is depicted in the graph below:
Riley Exploration Permian, Inc. Price and EPS Surprise
Let’s delve into the factors that are anticipated to have influenced the company’s performance in the March-end quarter.
Estimate Trend
The Zacks Consensus Estimate for REPX’s first-quarter earnings per share of $1.32 has witnessed no upward revision and two downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 32%.
The Zacks Consensus Estimate for the company’s first-quarter revenues of $62 million indicates an 8.8% decline from the year-ago reported figure.
Factors to Consider
Although crude prices were high in the first quarter, the same retreated from their peaks in the year-ago quarter. Natural gas prices saw large declines and were exceptionally volatile in the first quarter, depicting that the upstream business was unfavorable in the quarter.
Lower commodity prices are expected to have affected Riley Permian’s performance in the to-be-reported quarter, as it is a Permian-focused company with operations in the Northwest Shelf.
Moreover, the upward cost trajectory is likely to have continued in the first quarter due to the current inflationary environment. The increase in costs is expected to have dented Riley Permian’s bottom line in the to-be-reported quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Riley Permian 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: Riley Permian has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are pegged at earnings of $1.32 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Gevo, Inc. (GEVO - Free Report) has an Earnings ESP of +45.46% and a Zacks Rank #3.
Gevo is expected to post an earnings surprise on May 10. The Zacks Consensus Estimate for Gevo’s first-quarter sales is pegged at $2.28 million. This implies a year-over-year improvement of 889.1% from the prior-year reported figure.
Ormat Technologies, Inc. (ORA - Free Report) currently has an Earnings ESP of +4.62% and a Zacks Rank #3.
Ormat is expected to post an earnings surprise on May 9. The Zacks Consensus Estimate for Ormat’s first-quarter earnings is pegged at 49 cents per share. This indicates an improvement of 40% from the prior-year reported figure.
Permian Resources Corporation (PR - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 8. It has an Earnings ESP of +2.33% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for PR’s first-quarter earnings is pegged at 39 cents. This implies a year-over-year improvement of 5.4% from the prior-year reported figure.
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Riley Permian (REPX) to Report Q1 Earnings: What to Expect?
Riley Exploration Permian Inc. (REPX - Free Report) is set to report first-quarter 2023 results on May 8 after the closing bell.
In the last reported quarter, the upstream energy company’s earnings were $5.06 per share, beating the Zacks Consensus Estimate of $4.48.
In the trailing four quarters, Riley Permian beat the Zacks Consensus Estimate for the bottom line thrice and missed the same once, delivering an earnings surprise of 12.7%, on average. This is depicted in the graph below:
Riley Exploration Permian, Inc. Price and EPS Surprise
Riley Exploration Permian, Inc. price-eps-surprise | Riley Exploration Permian, Inc. Quote
Let’s delve into the factors that are anticipated to have influenced the company’s performance in the March-end quarter.
Estimate Trend
The Zacks Consensus Estimate for REPX’s first-quarter earnings per share of $1.32 has witnessed no upward revision and two downward movements in the past 30 days. The consensus estimate suggests a year-over-year increase of 32%.
The Zacks Consensus Estimate for the company’s first-quarter revenues of $62 million indicates an 8.8% decline from the year-ago reported figure.
Factors to Consider
Although crude prices were high in the first quarter, the same retreated from their peaks in the year-ago quarter. Natural gas prices saw large declines and were exceptionally volatile in the first quarter, depicting that the upstream business was unfavorable in the quarter.
Lower commodity prices are expected to have affected Riley Permian’s performance in the to-be-reported quarter, as it is a Permian-focused company with operations in the Northwest Shelf.
Moreover, the upward cost trajectory is likely to have continued in the first quarter due to the current inflationary environment. The increase in costs is expected to have dented Riley Permian’s bottom line in the to-be-reported quarter.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Riley Permian 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: Riley Permian has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are pegged at earnings of $1.32 per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Riley Permian currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Gevo, Inc. (GEVO - Free Report) has an Earnings ESP of +45.46% and a Zacks Rank #3.
Gevo is expected to post an earnings surprise on May 10. The Zacks Consensus Estimate for Gevo’s first-quarter sales is pegged at $2.28 million. This implies a year-over-year improvement of 889.1% from the prior-year reported figure.
Ormat Technologies, Inc. (ORA - Free Report) currently has an Earnings ESP of +4.62% and a Zacks Rank #3.
Ormat is expected to post an earnings surprise on May 9. The Zacks Consensus Estimate for Ormat’s first-quarter earnings is pegged at 49 cents per share. This indicates an improvement of 40% from the prior-year reported figure.
Permian Resources Corporation (PR - Free Report) is likely to come up with an earnings beat when it reports first-quarter results on May 8. It has an Earnings ESP of +2.33% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for PR’s first-quarter earnings is pegged at 39 cents. This implies a year-over-year improvement of 5.4% from the prior-year reported figure.