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Western Midstream (WES) to Post Q4 Earnings: What's in Store?
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Western Midstream Partners LP (WES - Free Report) is set to report fourth-quarter 2023 results on Feb 21, after the closing bell.
In the last reported quarter, Western Midstream’s earnings of 70 cents per unit beat the Zacks Consensus Estimate of 64 cents. The partnership’s earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters and missed the same twice, delivering an average surprise of 1.8%. This is depicted in the graph below.
Western Midstream Partners, LP Price and EPS Surprise
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 78 cents has witnessed two upward and one downward revisions in the past 30 days. The figure suggests a decline of 8.2% from the prior-year quarter’s reported number.
The consensus estimate for fourth-quarter revenues of $830.8 million indicates a year-over-year improvement of 6.6%.
Earnings Whispers
Our proven model predicts an earnings beat for Western Midstream 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, as you will see below.
Earnings ESP: Western Midstream’s Earnings ESP is +4.01%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The partnership currently carries a Zacks Rank #3.
Factors to Note
The partnership, engaged in midstream business, is associated with gathering, compressing, treating, processing and transporting natural gas. Western Midstream is likely to have generated stable fee-based revenues in the December quarter.
The Zacks Consensus Estimate for total throughput attributable to WES for natural-gas assets is pegged at 4,664 million cubic feet per day (MMcf/d), suggesting an improvement from 4,231 MMcf/d in the prior-year quarter. Higher throughput is likely to have generated increased cashflows.
Other Stocks to Consider
Here are three other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
The company is scheduled to release fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate for APA’s earnings is pegged at $1.38 per share, suggesting a decline from the year-ago figure.
Cheniere Energy, Inc. (LNG - Free Report) currently has an Earnings ESP of +5.55% and a Zacks Rank #3.
Cheniere Energy is scheduled to release fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate for LNG’s earnings is pegged at $2.70 per share.
PBF Energy Inc. (PBF - Free Report) has an Earnings ESP of +37.50% and is a Zacks #3 Ranked player at present.
PBF is scheduled to release fourth-quarter results on Feb 15. The Zacks Consensus Estimate for PBF Energy’s earnings is pegged at 8 cents per share, suggesting a massive year-over-year decline.
Image: Shutterstock
Western Midstream (WES) to Post Q4 Earnings: What's in Store?
Western Midstream Partners LP (WES - Free Report) is set to report fourth-quarter 2023 results on Feb 21, after the closing bell.
In the last reported quarter, Western Midstream’s earnings of 70 cents per unit beat the Zacks Consensus Estimate of 64 cents. The partnership’s earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters and missed the same twice, delivering an average surprise of 1.8%. This is depicted in the graph below.
Western Midstream Partners, LP Price and EPS Surprise
Western Midstream Partners, LP price-eps-surprise | Western Midstream Partners, LP Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 78 cents has witnessed two upward and one downward revisions in the past 30 days. The figure suggests a decline of 8.2% from the prior-year quarter’s reported number.
The consensus estimate for fourth-quarter revenues of $830.8 million indicates a year-over-year improvement of 6.6%.
Earnings Whispers
Our proven model predicts an earnings beat for Western Midstream 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, as you will see below.
Earnings ESP: Western Midstream’s Earnings ESP is +4.01%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The partnership currently carries a Zacks Rank #3.
Factors to Note
The partnership, engaged in midstream business, is associated with gathering, compressing, treating, processing and transporting natural gas. Western Midstream is likely to have generated stable fee-based revenues in the December quarter.
The Zacks Consensus Estimate for total throughput attributable to WES for natural-gas assets is pegged at 4,664 million cubic feet per day (MMcf/d), suggesting an improvement from 4,231 MMcf/d in the prior-year quarter. Higher throughput is likely to have generated increased cashflows.
Other Stocks to Consider
Here are three other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
APA Corporation (APA - Free Report) currently has an Earnings ESP of +0.34% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release fourth-quarter earnings on Feb 21. The Zacks Consensus Estimate for APA’s earnings is pegged at $1.38 per share, suggesting a decline from the year-ago figure.
Cheniere Energy, Inc. (LNG - Free Report) currently has an Earnings ESP of +5.55% and a Zacks Rank #3.
Cheniere Energy is scheduled to release fourth-quarter earnings on Feb 22. The Zacks Consensus Estimate for LNG’s earnings is pegged at $2.70 per share.
PBF Energy Inc. (PBF - Free Report) has an Earnings ESP of +37.50% and is a Zacks #3 Ranked player at present.
PBF is scheduled to release fourth-quarter results on Feb 15. The Zacks Consensus Estimate for PBF Energy’s earnings is pegged at 8 cents per share, suggesting a massive year-over-year decline.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.