What Awaits Plains All American Pipeline (PAA) in Q2 Earnings?
Plains All American Pipeline PAA is scheduled to release second-quarter 2023 results on Aug 4, before market open. The company delivered an earnings surprise of 13.9% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
PAA’s second-quarter earnings are expected to have benefited from increased volumes in its Crude oil and NGL segment. Ongoing debt reduction initiative of the firm is likely to have lowered its capital servicing expenses and boosted bottom-line performance.
However, lower crude oil prices are expected to have a negative impact on Plains All American Pipeline’s earnings prospects.
Expectations
The Zacks Consensus Estimate for earnings is pegged at 21 cents per unit, indicating a year-over-year decrease of 30%.
The same for revenues is pinned at $16.84 billion, implying a year-over-year improvement of 3%.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Plains All American Pipeline 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 not the case here as you will see below.
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
Earnings ESP: The firm’s Earnings ESP is 0.00%.
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 Pipeline carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to come up with an earnings beat this reporting cycle.
DT Midstream, Inc. DTM is expected to post an earnings beat when it announces second-quarter results on Aug 1, before market open. It has an Earnings ESP of +1.15% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for DTM’s earnings is pegged at 87 cents per share, indicating a year-over-year increase of 8.8%.
ONEOK, Inc. OKE is likely to post an earnings beat when it announces second-quarter results on Aug 7, after market close. It has an Earnings ESP of +4.24% and a Zacks Rank #3 at present.
OKE’s long-term (three to five years) earnings growth rate is 6.26%. It delivered an average earnings surprise of 7.9% in the last four quarters.
Cactus, Inc. WHD is expected to come up with an earnings beat when it reports second-quarter results on Aug 7, after market close. It has an Earnings ESP of +3.97% and a Zacks Rank #3 at present.
WHD’s long-term earnings growth rate is 5.79%. It delivered an average earnings surprise of 13.6% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Plains All American Pipeline, L.P. (PAA) : Free Stock Analysis Report
ONEOK, Inc. (OKE) : Free Stock Analysis Report
Cactus, Inc. (WHD) : Free Stock Analysis Report
DT Midstream, Inc. (DTM) : Free Stock Analysis Report
