What's in the Offing for Equinor's (EQNR) Q4 Earnings?
Equinor ASA EQNR is set to report fourth-quarter 2022 results on Feb 8.
In the last reported quarter, the integrated energy company reported earnings of $2.12 per share, beating the Zacks Consensus Estimate of $1.78 on higher commodity prices and production.
In the trailing four quarters, Equinor beat the Zacks Consensus Estimate for the bottom line, delivering an earnings surprise of 10.2%, on average. This is depicted in the graph below:
Equinor ASA Price and EPS Surprise
Equinor ASA price-eps-surprise | Equinor ASA Quote
Let’s see how things have shaped up prior to the announcement.
The Zacks Consensus Estimate for the company’s fourth-quarter earnings per share of $1.62 has witnessed no movement in the past 30 days. The consensus estimate suggests a year-over-year increase of 19.1%.
Factors to Consider
In the December quarter, prices of crude oil and natural increased significantly from the prior-year quarter. Healthier commodity prices are likely to have aided Equinor since the company conducts exploration activities worldwide. Higher pricing scenario is also expected to have aided Equinor’s production, aiding upstream operations.
Our proven model does not indicate an earnings beat for Equinor 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. As you can see, that is not the case here.
Earnings ESP: Equinor 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: Equinor currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies from the Energy space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Viper Energy Partners LP VNOM has an Earnings ESP of +3.57% and is a Zacks #3 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Viper Energy is scheduled to release fourth-quarter results on Feb 21. The Zacks Consensus Estimate for VNOM’s earnings is pegged at 27 cents per share.
Sunoco LP SUN has an Earnings ESP of +1.95% and a Zacks Rank of 1.
Sunoco is scheduled to report fourth-quarter results on Feb 15. The Zacks Consensus Estimate for SUN’s earnings is pegged at 77 cents per share.
PBF Energy PBF has an Earnings ESP of +7.90% and a Zacks Rank #3.
PBF Energy is scheduled to release fourth-quarter earnings on Feb 16. The Zacks Consensus Estimate for PBF’s earnings is pegged at $4.52 per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sunoco LP (SUN) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
Viper Energy Partners LP (VNOM) : Free Stock Analysis Report
Equinor ASA (EQNR) : Free Stock Analysis Report
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