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Is a Beat in the Cards for Enbridge (ENB) in Q2 Earnings?
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Enbridge Inc. (ENB - Free Report) is set to report second-quarter 2023 results on Aug 4 before the opening bell.
In the last reported quarter, the leading North American energy infrastructure company’s adjusted earnings per share of 63 cents beat the Zacks Consensus Estimate by a penny, driven by higher contributions from the Liquids Pipelines segment.
In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate for earnings twice and missed the same twice, delivering a negative surprise of 4.9%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for Enbridge’s second-quarter earnings per share of 51 cents has witnessed one downward movement in the past seven days. The figure suggests a 3.8% decline from the year-ago reported number.
Earnings Whispers
Our proven model predicts an earnings beat for Enbridge 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. That is just the case here.
Earnings ESP: Enbridge has an Earnings ESP of +0.78%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enbridge currently carries a Zacks Rank #3.
Factors to Note
Enbridge is likely to have generated stable fee-based revenues since it is involved in operating the world’s longest and most complex liquids transportation network. ENB also operates a natural gas pipeline network that transports the commodity to key markets from the prolific gas-producing basins in the United States.
The positive developments are also reflected in our estimates. We expect operating revenues from the liquids pipelines at C$2,732.8 million, suggesting a year-over-year improvement of 3.6%. For Gas Transmission & Midstream, our estimate is C$1,302.7 million, also implying a year-over-year rise.
Other Stocks to Consider
Here are some other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
The company is scheduled to release second-quarter earnings on Aug 3. The Zacks Consensus Estimate for PBA’s earnings is pegged at 45 cents per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +3.97% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 69 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +4.21% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 7 cents per share, suggesting a decline from the prior-year reported figure.
Image: Bigstock
Is a Beat in the Cards for Enbridge (ENB) in Q2 Earnings?
Enbridge Inc. (ENB - Free Report) is set to report second-quarter 2023 results on Aug 4 before the opening bell.
In the last reported quarter, the leading North American energy infrastructure company’s adjusted earnings per share of 63 cents beat the Zacks Consensus Estimate by a penny, driven by higher contributions from the Liquids Pipelines segment.
In the trailing four quarters, Enbridge beat the Zacks Consensus Estimate for earnings twice and missed the same twice, delivering a negative surprise of 4.9%, on average. This is depicted in the graph below:
Enbridge Inc Price and EPS Surprise
Enbridge Inc price-eps-surprise | Enbridge Inc Quote
Estimate Trend
The Zacks Consensus Estimate for Enbridge’s second-quarter earnings per share of 51 cents has witnessed one downward movement in the past seven days. The figure suggests a 3.8% decline from the year-ago reported number.
Earnings Whispers
Our proven model predicts an earnings beat for Enbridge 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. That is just the case here.
Earnings ESP: Enbridge has an Earnings ESP of +0.78%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enbridge currently carries a Zacks Rank #3.
Factors to Note
Enbridge is likely to have generated stable fee-based revenues since it is involved in operating the world’s longest and most complex liquids transportation network. ENB also operates a natural gas pipeline network that transports the commodity to key markets from the prolific gas-producing basins in the United States.
The positive developments are also reflected in our estimates. We expect operating revenues from the liquids pipelines at C$2,732.8 million, suggesting a year-over-year improvement of 3.6%. For Gas Transmission & Midstream, our estimate is C$1,302.7 million, also implying a year-over-year rise.
Other Stocks to Consider
Here are some other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Pembina Pipeline Corporation (PBA - Free Report) has an Earnings ESP of +1.48% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release second-quarter earnings on Aug 3. The Zacks Consensus Estimate for PBA’s earnings is pegged at 45 cents per share, suggesting a decline from the prior-year reported figure.
Cactus, Inc. (WHD - Free Report) has an Earnings ESP of +3.97% and a Zacks #3 at present.
Cactus is scheduled to release second-quarter results on Aug 7. The Zacks Consensus Estimate for WHD’s earnings is pegged at 69 cents per share, indicating an improvement from the year-ago quarter’s reported figure.
Southwestern Energy Company (SWN - Free Report) has an Earnings ESP of +4.21% and is a Zacks #3 Ranked player at present.
Southwestern is scheduled to release second-quarter results on Aug 3. The Zacks Consensus Estimate for SWN’s earnings is pegged at 7 cents per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.