TOTAL (TOT) to Report Q2 Earnings: What's in the Offing ?

TOTAL SE TOT is set to report second-quarter earnings on Jul 30, before the opening bell. This integrated oil and gas company delivered an earnings surprise of 9.3% in the last four quarters.

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

Factors at Play

Drop in oil prices and reduction in global demand for oil due to the novel coronavirus outbreak are likely to have impacted TOTAL’s second-quarter performance. To preserve liquidity amid such an unprecedented economic crisis, the company decided to lower planned capital expenditure for 2020 and resorted to cost-management initiatives that are likely to have a positive impact on second-quarter results.

During the quarter, it sold non-core assets in Brunei, Sierra Leone and Liberia, as part of the $5-billion asset divestiture target for the 2019-2020 period.

What Our Quantitative Model Predicts

Our proven model predicts an earnings beat for TOTAL this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.

TOTAL S.A. Price and EPS Surprise

TOTAL S.A. Price and EPS Surprise

TOTAL S.A. price-eps-surprise | TOTAL S.A. Quote

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The company has an Earnings ESP of +21.74%.

Zacks Rank: TOTAL currently carries a Zacks Rank of 3.

Other Stocks to Consider

Investors can also consider the following players from the same sector that too have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Hess Corporation HES is scheduled to release second-quarter 2020 numbers on Jul 29. It has an Earnings ESP of +3.20% and carries a Zacks Rank #2.

Noble Energy Inc. NBL is slated to release second-quarter 2020 numbers on Aug 7. It has an Earnings ESP of +12.54% and carries a Zacks Rank 1.

Canadian Natural Resources Limited CNQ is set to release second-quarter earnings on Aug 6. It has an Earnings ESP of +6.47% and carries a Zacks Rank #3.

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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.

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