Yahoo Finance Is a Beat in Store for Plains All American (PAA) Q1 Earnings?
Plains All American Pipeline, L.P. PAA is scheduled to release first-quarter results on May 5, after market close. In the last reported quarter, the firm delivered a positive earnings surprise of 28.57%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
The firm has been expanding through joint ventures, organic projects and benefiting from higher fee-based earnings. Plains All American Pipeline’s earnings for the to-be-reported quarter are likely to have benefited from these trends.
The outbreak of the coronavirus during the first quarter has caused unprecedented economic distress and adversely impacted the transportation, manufacturing and commercial activities. This led to decline in demand for crude oil and reduction in prices. In spite of measures to preserve liquidity, the company’s first-quarter performance is likely to have been affected by the current market condition, with a number of E&P companies lowering production.
Plains All American Pipeline, L.P. Price and EPS Surprise
Plains All American Pipeline, L.P. price-eps-surprise | Plains All American Pipeline, L.P. Quote
Q1 Expectations
The Zacks Consensus Estimate for first-quarter 2020 earnings per share is pegged at 47 cents, which indicates a decline of 31.88% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for first-quarter sales is pegged at $8.84 billion, which suggests an increase of 5.58% from the year-ago quarter’s figure.
What Does the Zacks Model Say?
Our proven model predicts an earnings beat for Plains All American 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. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +3.52%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Plains All American carries a Zacks Rank #3.
Other Stocks to Consider
Investors can consider other following players from the same sector that also have the right combination of elements to post an earnings beat this time around.
Devon Energy Corporation DVN is slated to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +8.88% and carries a Zacks Rank 3.
Oasis Midstream Partners LP OMP is expected to release first-quarter 2020 numbers on May 5. It has an Earnings ESP of +6.21% and carries a Zacks Rank #3.
Talos Energy Inc. TALO is set to release first-quarter earnings on May 6. It has an Earnings ESP of +40.00% and carries a Zacks Rank #3.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
Devon Energy Corporation (DVN) : Free Stock Analysis Report
Oasis Midstream Partners LP (OMP) : Free Stock Analysis Report
Stone Energy Corporation (TALO) : Free Stock Analysis Report
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