Earnings season for Q1 2013 is well on its way, with several
bellwether commodity stocks already reporting better-than-expected
results. Agribusiness giant
) posted earnings that significantly beat out estimates: Earnings
rose 22%, while profits came in at $1.48 billion. Meanwhile,
) reported an unprofitable quarter, though the company added $1
billion to reserves tied to litigation involving the Deepwater
Horizon rig explosion.
) also beat analyst expectations, clocking in an EPS of $0.86.
Below, we highlight four important commodity firms reporting
earnings this Friday and Monday that investors should be watching:
Southern Copper Corporation
): This Phoenix-based copper company is primarily engaged in
mining, exploring, and refining copper in Peru, Mexico, and
Chile. The company recently announced its new CFO, Raul Jacob
Ruisanchez, and is expected to report Q1 earnings this Friday.
Analyst estimates put EPS at $0.61, slightly below last quarter's
earnings of $0.63 per share. Revenues are also expected to come
in slightly lower compared to Q4 2012; average estimates are
around $1.6 billion.
): This company operates natural gas and oil pipelines, and has
been on the radar of many investors following the Keystone
Pipeline case. On Friday, analysts expected TransCanada to report
earnings of $0.55 per share, an uptick from Q4 2012′s $0.45
figure. Revenues, however, are expected to remain the same at
Newmont Mining Corporation
(NEM): This popular gold miner is slated to report earnings on
Monday. Analysts expect earnings per share to fall to $0.84 from
the previously recorded $1.11 Q4 2012 reading. Revenues are also
expected to be lower, coming in at $2.3 billion.
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Editor's note: This article by Daniela Pylypczak was originally
Suncor Energy Inc.
(SU): Another Canadian-based firm closely tied to the Keystone
pipeline, Suncor Energy is expected to make somewhat of a
turnaround from the previous quarter. Analyst put EPS estimates
at $0.76, compared to Q4 2012′s $0.65 reading. Last quarter, the
company posted a net loss, but analysts expect revenues to
increase to $10.2 billion.