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What Awaits Plains All American Pipeline (PAA) in Q3 Earnings?
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Plains All American Pipeline (PAA - Free Report) is scheduled to release third-quarter 2023 results on Nov 3, before market open. The firm delivered an earnings surprise of 19.05% in the last reported quarter.
Factors to Consider
Plains All American Pipeline’s third-quarter earnings are expected to have benefited from increasing demand for oil and natural gas. The crude oil segment is likely to have been driven by an increase in Permian tariff volumes.
The acquisition of remaining interest in the Northern Midland Basin gathering system from Diamondback might have boosted third-quarter earnings. The Natural gas liquid segment’s performance is expected to have improved owing to the increased gas production and higher frac spread volumes.
Expectations
The Zacks Consensus Estimate for earnings is pegged at 24 cents per unit, indicating a year-over-year decrease of 27.3%.
The same for revenues is pinned at $15.38 billion, implying a year-over-year improvement of 7.3%.
What Our Quantitative Model Predicts
Our proven model predicts 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 the case here, as you will see below.
Plains All American Pipeline, L.P. Price and EPS Surprise
Investors may also consider the following players from the same sector as these have the right combination of elements to come up with an earnings beat this reporting cycle.
Devon Energy Corp. (DVN - Free Report) is expected to post an earnings beat when it announces third-quarter results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank #2 at present.
DVN’s long-term (three to five years) earnings growth rate is 51.3%. It delivered an average earnings surprise of 0.78% in the last four quarters.
TC Energy Corp. (TRP - Free Report) is likely to post an earnings beat when it announces third-quarter results on Nov 8, before market open. It has an Earnings ESP of +0.37% and a Zacks Rank #3 at present.
TRP’s long-term (three to five years) earnings growth rate is 4%. It delivered an average earnings surprise of 1.05% in the last four quarters.
EOG Resources Inc. (EOG - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 2, after market close. It has an Earnings ESP of +1.52% and a Zacks Rank #3 at present.
EOG’s long-term earnings growth rate is 28.6%. It delivered an average earnings surprise of 4.75% in the last four quarters.
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What Awaits Plains All American Pipeline (PAA) in Q3 Earnings?
Plains All American Pipeline (PAA - Free Report) is scheduled to release third-quarter 2023 results on Nov 3, before market open. The firm delivered an earnings surprise of 19.05% in the last reported quarter.
Factors to Consider
Plains All American Pipeline’s third-quarter earnings are expected to have benefited from increasing demand for oil and natural gas. The crude oil segment is likely to have been driven by an increase in Permian tariff volumes.
The acquisition of remaining interest in the Northern Midland Basin gathering system from Diamondback might have boosted third-quarter earnings. The Natural gas liquid segment’s performance is expected to have improved owing to the increased gas production and higher frac spread volumes.
Expectations
The Zacks Consensus Estimate for earnings is pegged at 24 cents per unit, indicating a year-over-year decrease of 27.3%.
The same for revenues is pinned at $15.38 billion, implying a year-over-year improvement of 7.3%.
What Our Quantitative Model Predicts
Our proven model predicts 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 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 +6.67%.
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. You can see the complete list of today's Zacks #1 Rank stocks here.
Other Stocks to Consider
Investors may also consider the following players from the same sector as these have the right combination of elements to come up with an earnings beat this reporting cycle.
Devon Energy Corp. (DVN - Free Report) is expected to post an earnings beat when it announces third-quarter results on Nov 7, after market close. It has an Earnings ESP of +0.72% and a Zacks Rank #2 at present.
DVN’s long-term (three to five years) earnings growth rate is 51.3%. It delivered an average earnings surprise of 0.78% in the last four quarters.
TC Energy Corp. (TRP - Free Report) is likely to post an earnings beat when it announces third-quarter results on Nov 8, before market open. It has an Earnings ESP of +0.37% and a Zacks Rank #3 at present.
TRP’s long-term (three to five years) earnings growth rate is 4%. It delivered an average earnings surprise of 1.05% in the last four quarters.
EOG Resources Inc. (EOG - Free Report) is expected to come up with an earnings beat when it reports third-quarter results on Nov 2, after market close. It has an Earnings ESP of +1.52% and a Zacks Rank #3 at present.
EOG’s long-term earnings growth rate is 28.6%. It delivered an average earnings surprise of 4.75% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.