Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.

The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.

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 is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company's report. The idea is relatively intuitive as a newer projection might be based on more complete information.

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.

In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.

Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.

Should You Consider BP?

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. BP (BP Quick QuoteBP - Free Report) earns a #1 (Strong Buy) right now and its Most Accurate Estimate sits at $0.80 a share, just 28 days from its upcoming earnings release on April 28, 2026.

By taking the percentage difference between the $0.80 Most Accurate Estimate and the $0.7 Zacks Consensus Estimate, BP has an Earnings ESP of +13.57%. Investors should also know that BP 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.

BP is just one of a large group of Oils and Energy stocks with a positive ESP figure. GE Vernova (GEV Quick QuoteGEV - Free Report) is another qualifying stock you may want to consider.

GE Vernova is a Zacks Rank #1 (Strong Buy) stock, and is getting ready to report earnings on April 22, 2026. GEV's Most Accurate Estimate sits at $1.75 a share 22 days from its next earnings release.

For GE Vernova, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.74 is +0.56%.

BP 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 >>