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Independent natural gas producer EXCO Resources Inc. is set to release its first-quarter 2017 results after the closing bell on Tuesday, May 9.
Factors to Consider This Quarter
At the end of the first quarter, natural gas was trading at around $3.20 per million British thermal units – in a sweet spot compared to the corresponding period of 2016 when the commodity dropped to its worst level in almost 17 years.
Moreover, the company’s successful cost-reduction initiatives are expected to cushion the results to a large extent. EXCO Resources’ efforts to improve liquidity and restructure the balance sheet to enhance capital structure are also expected to have a positive impact on the quarterly results.
However, EXCO Resources’ core operational region – the Haynesville shale – has seen a drastic fall in the number of gas rigs employed. Production is likely to suffer as a result.
Apart from EXCO Resources, here are some other firms from the energy space that are expected to come out with first quarter earnings in the next few days:
Penn Virginia Corp. , with a Zacks Rank #1, is likely to release earnings on May 9.
Bellatrix Exploration Ltd. , with a Zacks Rank #1, is likely to release earnings on May 10.
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Can EXCO Resources (XCO) Q1 Earnings Surprise?
Independent natural gas producer EXCO Resources Inc. is set to release its first-quarter 2017 results after the closing bell on Tuesday, May 9.
Factors to Consider This Quarter
At the end of the first quarter, natural gas was trading at around $3.20 per million British thermal units – in a sweet spot compared to the corresponding period of 2016 when the commodity dropped to its worst level in almost 17 years.
Moreover, the company’s successful cost-reduction initiatives are expected to cushion the results to a large extent. EXCO Resources’ efforts to improve liquidity and restructure the balance sheet to enhance capital structure are also expected to have a positive impact on the quarterly results.
However, EXCO Resources’ core operational region – the Haynesville shale – has seen a drastic fall in the number of gas rigs employed. Production is likely to suffer as a result.
EXCO Resources NL Price and EPS Surprise
EXCO Resources NL Price and EPS Surprise | EXCO Resources NL Quote
Other Stocks to Report Near-Term
Apart from EXCO Resources, here are some other firms from the energy space that are expected to come out with first quarter earnings in the next few days:
Global Partners L.P. (GLP - Free Report) , having a Zacks Rank #1 (Strong Buy), is expected to release earnings results on May 9. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Penn Virginia Corp. , with a Zacks Rank #1, is likely to release earnings on May 9.
Bellatrix Exploration Ltd. , with a Zacks Rank #1, is likely to release earnings on May 10.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>