We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enterprise (EPD) to Post Q1 Earnings: What's in the Offing?
Read MoreHide Full Article
Enterprise Products Partners L.P. (EPD - Free Report) is set to report first-quarter 2024 results on Apr 30, before the opening bell.
In the last reported quarter, Enterprise Products’ strong quarterly results were backed by improved margins in its propylene and octane enhancement businesses. The leading midstream energy player beat the Zacks Consensus Estimate for earnings in two of the prior four quarters and missed the same twice, delivering an average surprise of 1.04%.
Enterprise Products Partners L.P. Price and EPS Surprise
The Zacks Consensus Estimate for EPD’s first-quarter earnings witnessed no revisions in the past 30 days. It is pegged at 64 cents per share, almost the same as the year-ago reported figure.
The consensus mark for revenues is pinned at $13.4 billion, implying an 8% year-over-year improvement.
Factors to Consider
Enterprise Products has a stable business model and is not significantly exposed to the volatility in oil and gas prices. It is likely to have generated stable fee-based revenues from its extensive pipeline network spread across more than 50,000 miles, transporting natural gas, natural gas liquids (NGLs), crude oil petrochemicals and refined products.
The midstream infrastructure provider also has storage assets that can hold more than 300 million barrels of NGL, petrochemicals, refined products and crude oil. These assets can store 14 billion cubic feet of natural gas, which is likely to have led to handsome cashflows.
However, the partnership is expected to have been adversely impacted by declining contributions from NGL Pipelines & Services businesses due to lower average sales margins and sales volumes.
Earnings Whisper
Our proven model does not conclusively predict an earnings beat for Enterprise Products 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. But that is not the case here.
Earnings ESP: EPD has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
MPLX LP (MPLX - Free Report) has an Earnings ESP of +3.78% and a Zacks Rank #3. The firm is scheduled to release earnings on Apr 30.
The 2024 Zacks Consensus Estimate for MPLX indicates 8.8% year-over-year earnings per unit growth. It has a trailing four-quarter earnings surprise of 7.3%, on average.
ExxonMobil (XOM - Free Report) has an Earnings ESP of +0.13% and a Zacks Rank #3. The firm is scheduled to release earnings on Apr 26.
The 2024 Zacks Consensus Estimate for ExxonMobil indicates a 22.6% year-over-year earnings per share decline.
DT Midstream (DTM - Free Report) has an Earnings ESP of +3.59% and a Zacks Rank #2. The firm is scheduled to release earnings on Apr 30.
DT Midstream beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of 9.8%, on average.
Image: Bigstock
Enterprise (EPD) to Post Q1 Earnings: What's in the Offing?
Enterprise Products Partners L.P. (EPD - Free Report) is set to report first-quarter 2024 results on Apr 30, before the opening bell.
In the last reported quarter, Enterprise Products’ strong quarterly results were backed by improved margins in its propylene and octane enhancement businesses. The leading midstream energy player beat the Zacks Consensus Estimate for earnings in two of the prior four quarters and missed the same twice, delivering an average surprise of 1.04%.
Enterprise Products Partners L.P. Price and EPS Surprise
Enterprise Products Partners L.P. price-eps-surprise | Enterprise Products Partners L.P. Quote
Estimate Trend
The Zacks Consensus Estimate for EPD’s first-quarter earnings witnessed no revisions in the past 30 days. It is pegged at 64 cents per share, almost the same as the year-ago reported figure.
The consensus mark for revenues is pinned at $13.4 billion, implying an 8% year-over-year improvement.
Factors to Consider
Enterprise Products has a stable business model and is not significantly exposed to the volatility in oil and gas prices. It is likely to have generated stable fee-based revenues from its extensive pipeline network spread across more than 50,000 miles, transporting natural gas, natural gas liquids (NGLs), crude oil petrochemicals and refined products.
The midstream infrastructure provider also has storage assets that can hold more than 300 million barrels of NGL, petrochemicals, refined products and crude oil. These assets can store 14 billion cubic feet of natural gas, which is likely to have led to handsome cashflows.
However, the partnership is expected to have been adversely impacted by declining contributions from NGL Pipelines & Services businesses due to lower average sales margins and sales volumes.
Earnings Whisper
Our proven model does not conclusively predict an earnings beat for Enterprise Products 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. But that is not the case here.
Earnings ESP: EPD has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
MPLX LP (MPLX - Free Report) has an Earnings ESP of +3.78% and a Zacks Rank #3. The firm is scheduled to release earnings on Apr 30.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The 2024 Zacks Consensus Estimate for MPLX indicates 8.8% year-over-year earnings per unit growth. It has a trailing four-quarter earnings surprise of 7.3%, on average.
ExxonMobil (XOM - Free Report) has an Earnings ESP of +0.13% and a Zacks Rank #3. The firm is scheduled to release earnings on Apr 26.
The 2024 Zacks Consensus Estimate for ExxonMobil indicates a 22.6% year-over-year earnings per share decline.
DT Midstream (DTM - Free Report) has an Earnings ESP of +3.59% and a Zacks Rank #2. The firm is scheduled to release earnings on Apr 30.
DT Midstream beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of 9.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.