Chesapeake (CHK) to Report Q1 Earnings: What's in Store?

Chesapeake Energy Corporation CHK is set to report first-quarter 2022 results on May 4, after the closing bell.

In the last reported quarter, the upstream energy company reported earnings of $2.39 per share, missing the Zacks Consensus Estimate of $2.40. In the trailing three quarters, Chesapeake Energy beat the Zacks Consensus Estimate for the bottom line twice and missed once, delivering an earnings surprise of 22.7%, on average. This is depicted in the graph below:

Chesapeake Energy Corporation Price and EPS Surprise

Chesapeake Energy Corporation Price and EPS Surprise

Chesapeake Energy Corporation price-eps-surprise | Chesapeake Energy Corporation Quote

Let’s see how things have shaped up prior to the announcement.

Estimate Trend

The Zacks Consensus Estimate for its first-quarter earnings per share of $2.46 has witnessed one upward and one downward movement in the past 30 days.

The Zacks Consensus Estimate for its revenues in the March quarter is pegged at $1.3 billion.

Factors to Consider

In the March quarter, crude oil and natural prices increased significantly compared to the prior-year quarter. Healthier commodity prices are likely to have aided Chesapeake Energy since the company is a leading upstream energy player.

Earnings Whispers

Our proven model does not indicate an earnings beat for Chesapeake Energy 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: Chesapeake Energy 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: Chesapeake Energy currently sports a Zacks Rank #1.

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:

W&T Offshore, Inc. WTI has an Earnings ESP of +10.00% and is a Zacks #3 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

W&T Offshore is scheduled to release first-quarter results on May 3. The Zacks Consensus Estimate for W&T Offshore’s quarterly earnings is pegged at 20 cents per share, suggesting an increase of 81.8% from the prior-year reported figure.

EOG Resources EOG has an Earnings ESP of +0.89% and is a Zacks #1 Ranked player at present.

EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.69 per share, suggesting an increase of 127.8% from the prior-year figure.

Murphy USA Inc. MUSA has an Earnings ESP of +18.49% and flaunts a Zacks Rank #2.

Murphy USA is scheduled to release first-quarter earnings on May 3. The Zacks Consensus Estimate for MUSA’s earnings is pegged at $2.65 per share, suggesting an increase of 31.8% from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report

EOG Resources, Inc. (EOG) : Free Stock Analysis Report

W&T Offshore, Inc. (WTI) : Free Stock Analysis Report

Murphy USA Inc. (MUSA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research