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Chemical Stocks' Earnings Slated on Feb 1: CE, CBT, OMN
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A few chemical companies are gearing up to report their quarterly numbers on Feb 1. The chemical industry falls under the broader Basic Materials sector. Based on the earnings scorecard as of Jan 27, 45% of the sector participants on the S&P 500 index have already reported their quarterly numbers. Earnings for these companies increased 19.6% from the same period last year on 4.3% higher revenues, per the latest Earnings Preview. Overall earnings for the Basic Materials sector are now projected to rise 2.3% on 2.5% lower revenues.
The chemical industry is gradually gaining strength on the back of sustained momentum in the automotive space and rebounding construction markets. Chemical makers are looking for cost synergy and enhanced operational scale through consolidations in a still difficult operating environment. These companies also remain actively focused on increasing their reach in high-growth markets in a bid to cut their exposure to businesses that are grappling with depressed demand.
However, the industry remains hamstrung by a number of headwinds including a still weak agriculture market, currency headwinds, weak demand in the energy space and a sluggish Chinese economy.
We take a sneak peek into three chemical companies that are slated to report their quarterly results on Feb 1.
Celanese Corporation (CE - Free Report) will report fourth-quarter results ahead of the bell. It has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at $1.51. This makes surprise prediction difficult even though the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Celanese surpassed the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of 7.08%. Celanese’s strategic measures including productivity and efficiency improvement actions should lend support to its earnings in the to-be-reported quarter. The company is also gaining from capacity expansion and growth initiatives in the emerging regions.
Cabot Corporation (CBT - Free Report) , which will report fiscal first-quarter earnings numbers after the bell, is expected to come up with a positive earnings surprise as it carries a favorable Zacks Rank #3 (Hold) and an Earnings ESP of +1.45%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company surpassed the Zacks Consensus Estimate in two of the trailing four quarters while missed in the other two, with an average negative surprise of 0.89%. Cabot Corp. has outlined a strategy that includes investment for growth in core operations, innovating applications with customers and strong cash flow generation through efficiency. The company’s cost reduction actions should also support its earnings. (Read more: What's in Store for Cabot Corp. in Q1 Earnings?)
OMNOVA Solutions Inc. will report fourth-quarter results before the bell. The company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 14 cents. The stock carries a Zacks Rank #3, but its 0.00% ESP makes surprise prediction difficult. The company beat estimates in two of the trailing four quarters while missed in the other two. In this timeframe, it delivered an average positive surprise of 75.95%.
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
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Chemical Stocks' Earnings Slated on Feb 1: CE, CBT, OMN
A few chemical companies are gearing up to report their quarterly numbers on Feb 1. The chemical industry falls under the broader Basic Materials sector. Based on the earnings scorecard as of Jan 27, 45% of the sector participants on the S&P 500 index have already reported their quarterly numbers. Earnings for these companies increased 19.6% from the same period last year on 4.3% higher revenues, per the latest Earnings Preview. Overall earnings for the Basic Materials sector are now projected to rise 2.3% on 2.5% lower revenues.
The chemical industry is gradually gaining strength on the back of sustained momentum in the automotive space and rebounding construction markets. Chemical makers are looking for cost synergy and enhanced operational scale through consolidations in a still difficult operating environment. These companies also remain actively focused on increasing their reach in high-growth markets in a bid to cut their exposure to businesses that are grappling with depressed demand.
However, the industry remains hamstrung by a number of headwinds including a still weak agriculture market, currency headwinds, weak demand in the energy space and a sluggish Chinese economy.
We take a sneak peek into three chemical companies that are slated to report their quarterly results on Feb 1.
Celanese Corporation (CE - Free Report) will report fourth-quarter results ahead of the bell. It has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at $1.51. This makes surprise prediction difficult even though the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Celanese surpassed the Zacks Consensus Estimate in each of the trailing four quarters with an average beat of 7.08%. Celanese’s strategic measures including productivity and efficiency improvement actions should lend support to its earnings in the to-be-reported quarter. The company is also gaining from capacity expansion and growth initiatives in the emerging regions.
Celanese Corporation Price and EPS Surprise
Celanese Corporation Price and EPS Surprise | Celanese Corporation Quote
Cabot Corporation (CBT - Free Report) , which will report fiscal first-quarter earnings numbers after the bell, is expected to come up with a positive earnings surprise as it carries a favorable Zacks Rank #3 (Hold) and an Earnings ESP of +1.45%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
The company surpassed the Zacks Consensus Estimate in two of the trailing four quarters while missed in the other two, with an average negative surprise of 0.89%. Cabot Corp. has outlined a strategy that includes investment for growth in core operations, innovating applications with customers and strong cash flow generation through efficiency. The company’s cost reduction actions should also support its earnings. (Read more: What's in Store for Cabot Corp. in Q1 Earnings?)
Cabot Corporation Price and EPS Surprise
Cabot Corporation Price and EPS Surprise | Cabot Corporation Quote
OMNOVA Solutions Inc. will report fourth-quarter results before the bell. The company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate stand at 14 cents. The stock carries a Zacks Rank #3, but its 0.00% ESP makes surprise prediction difficult. The company beat estimates in two of the trailing four quarters while missed in the other two. In this timeframe, it delivered an average positive surprise of 75.95%.
OMNOVA Solutions Inc. Price and EPS Surprise
OMNOVA Solutions Inc. Price and EPS Surprise | OMNOVA Solutions Inc. Quote
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>