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EQT Corp (EQT) Gears Up for Q2 Earnings: A Beat in Store?

EQT CorporationEQT is expected to report second-quarter 2018 results on Jul 26.

The Pittsburgh, PA-based company's earnings surprise history is impressive. The company surpassed the Zacks Consensus Estimate in three of the prior four quarters, recording an average positive earnings surprise of 151.4%. For the second quarter, the Zacks Consensus Estimate for earnings is pegged at 35 cents, 483.3% higher than the year-ago period.

Price and EPS Surprise

Price and EPS Surprise | Quote

Let's see how things are shaping up for this announcement.

Why a Likely Positive Surprise?

Our proven model shows that EQT is likely to beat earnings estimates because it has the right combination of two key ingredients.

Earnings ESP: Earnings ESP , which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.96%. This is a very meaningful and leading indicator of a likely positive earnings surprise. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter .

Zacks Rank: Currently, EQT carries a Zacks Rank #3 (Hold), which when combined with +0.96% ESP makes us confident about an earnings beat. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Please note that stocks with a Zacks Ranks #1, 2 (Buy) or 3 have a significantly higher chance of beating earnings estimates. The Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.

What's Driving the Better-Than-Expected Performance?

Per the Zacks Consensus Estimate, average daily sales volume for the second quarter is pegged at 4,036 million cubic feet equivalent per day (MMcfe/d), higher than 3,967 MMcfe/d in the preceding quarter and 2,177 MMcfe/d in the year-ago quarter. The year-over-year increase can be attributed to the Rice Energy acquisition.

The Zacks Consensus Estimate for oil sales volume stands at 213 thousand barrels, indicating an improvement from 202 thousand barrels in the last reported quarter.

Moreover, the Zacks Consensus Estimate for natural gas volumes is 340 billion cubic feet (Bcf), up from 329 Bcf recorded in the first quarter.

Additionally, the Zacks Consensus Estimate for earnings at the Production segment is pegged at $131 million, reflecting an increase from $53 million in the year-ago quarter.

Other Stocks to Consider

EQT is not the only company looking up this earnings season. Here are some other companies from the energy space that also have the right combination of elements to post an earnings beat.

Calgary, Canada-based Canadian Natural Resources Limited CNQ sports a Zacks Rank #1 and has an Earnings ESP of +1.42%. The company will report second-quarter earnings on Aug 2.

The Woodlands, TX-based Anadarko Petroleum Corporation APC has a Zacks Rank #2 and an Earnings ESP of +6.65%. The company is scheduled to report second-quarter earnings on Jul 31.

The Woodlands, TX-based Newfield Exploration Company NFX carries a Zacks Rank #3 and has an Earnings ESP of +4.42%. The company is anticipated to report quarterly results on Jul 31.

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EQT Corporation (EQT): Free Stock Analysis Report

Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report

Newfield Exploration Company (NFX): Free Stock Analysis Report

Anadarko Petroleum Corporation (APC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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