Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.

We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.

Hunting for 'earnings whispers' or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn't make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.

The Zacks Earnings ESP, Explained

The Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.

With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.

When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.

Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.

Should You Consider Canadian Natural Resources?

Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Canadian Natural Resources (CNQ Quick QuoteCNQ - Free Report) earns a #1 (Strong Buy) right now and its Most Accurate Estimate sits at $0.56 a share, just 17 days from its upcoming earnings release on November 6, 2025.

By taking the percentage difference between the $0.56 Most Accurate Estimate and the $0.53 Zacks Consensus Estimate, Canadian Natural Resources has an Earnings ESP of +6.33%. Investors should also know that CNQ is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

CNQ is part of a big group of Oils and Energy stocks that boast a positive ESP, and investors may want to take a look at GE Vernova (GEV Quick QuoteGEV - Free Report) as well.

GE Vernova is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on October 22, 2025. GEV's Most Accurate Estimate sits at $1.81 a share two days from its next earnings release.

The Zacks Consensus Estimate for GE Vernova is $1.78, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +1.79%.

CNQ and GEV's positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.

Find Stocks to Buy or Sell Before They're Reported

Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>