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What's in the Offing for Energy Transfer's (ET) Q1 Earnings?

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Energy Transfer LP (ET - Free Report) is scheduled to release first-quarter 2020 results on May 11. This oil and gas midstream firm came up with a positive earnings surprise of 11.8%.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Note

The firm’s first-quarter earnings are expected to have benefited from the acquisition of SemGroup Corporation, which was completed in fourth-quarter 2019.

The firm has placed several projects in service including the J.C. Nolan Diesel Pipeline, the Permian Express four pipeline, two processing plants in West Texas and the sixth fractionator at Mont Belvieu. All these projects are expected to have contributed to first-quarter earnings.

Q1 Expectation

The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at 32 cents per unit and $14.02 billion, respectively. The revenue projection indicates a 6.86% increase, while the bottom-line estimate indicates a decline of 13.51% from the year-ago reported figure.

Energy Transfer LP Price and EPS Surprise

Energy Transfer LP Price and EPS Surprise

Energy Transfer LP price-eps-surprise | Energy Transfer LP Quote

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Energy Transfer 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’s not the case here.

Earnings ESP: It 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: Currently, Energy Transfer carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are some stocks worth considering from the same sector that have the perfect mix of elements to beat on earnings in the upcoming releases:

Sunoco LP (SUN - Free Report) is likely to release first-quarter results soon. It has an Earnings ESP of +14.75% and a Zacks Rank #3.

Golar LNG Partners LP (GMLP - Free Report) is expected to release first-quarter results soon. It has an Earnings ESP of +6.25% and a Zacks Rank #3.

NGL Energy Partners LP (NGL - Free Report) is set to release fourth-quarter fiscal 2020 results on Jun 4, 2020. It has an Earnings ESP of +58.83% and a Zacks Rank #3.

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Energy Transfer LP (ET) - free report >>