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Equinor (EQNR) to Post Q1 Earnings: What's in the Offing?

·3 min read

Equinor ASA EQNR is set to report first-quarter 2022 results on May 4.

In the last reported quarter, the integrated energy company reported earnings of $1.36 per share, beating the Zacks Consensus Estimate of $1.22 per share on higher commodity prices and increased contributions from the Martin Linge oil field.

In the trailing four quarters, Equinor beat the Zacks Consensus Estimate for the bottom line, delivering an earnings surprise of 22.1%, on average. This is depicted in the graph below:

Equinor ASA Price and EPS Surprise

Equinor ASA Price and EPS Surprise
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.

Estimate Trend

The Zacks Consensus Estimate for the company’s first-quarter earnings per share of $1.57 has witnessed one upward and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year increase of 91.5%.

Factors to Consider

In the March quarter, prices of crude oil and natural increased significantly as compared to the prior-year quarter. Healthier commodity prices are likely to have aided Equinor since the company conducts exploration activities worldwide.

Earnings Whispers

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 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

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

Equinor ASA (EQNR) : Free Stock Analysis Report

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Zacks Investment Research