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Equinor (EQNR) Set to Report Q2 Earnings: Is a Beat in Store?

·3 min read

Equinor ASA EQNR is set to report second-quarter 2022 results on Jul 27.

The integrated energy company reported first-quarter adjusted earnings per share of $1.60, beating the Zacks Consensus Estimate of $1.57 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 5.8%, 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 second-quarter earnings per share of $1.44 has witnessed one upward revision and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year increase of 194%.

The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $50.5 billion indicates a 189% improvement from the year-ago reported figure.

Earnings Whispers

Our proven model conclusively predicts 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.

Earnings ESP: Equinor has an Earnings ESP of +13.89%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.64 per share, whereas the Zacks Consensus Estimate is pinned at $1.44 per share. 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.

Factors to Consider

In the June-end quarter of 2022, prices of crude oil and natural gas were significantly higher than the prior-year quarter. The sharp rise in oil price can be linked to the assumptions by many analysts that the Ukraine war may be prolonged. Healthier commodity prices are likely to have aided Equinor since the company conducts exploration activities worldwide.

Stocks That Warrant a Look

Here are some companies from the Energy space that you may want to consider that also shows the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Chevron Corporation CVX has an Earnings ESP of +1.69% and is a Zacks #2 Ranked player at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Chevron is scheduled to release second-quarter results on Jul 29. The Zacks Consensus Estimate for CVX’s quarterly earnings is pegged at $5.01 per share, suggesting an increase of 193% from the prior-year reported figure.

EQT Corporation EQT has an Earnings ESP of +3.22% and is a Zacks #2 Ranked player at present.

EQT is scheduled to release second-quarter results on Jul 27. The Zacks Consensus Estimate for EQT’s quarterly earnings is pegged at 77 cents per share, suggesting an increase of 1000% from the prior-year reported figure.

Hess Corporation HES has an Earnings ESP of +3.73% and is a Zacks #2 Ranked player at present.

Hess is scheduled to release second-quarter results on Jul 27. The Zacks Consensus Estimate for HES’ quarterly earnings is pegged at $2.05 per share, suggesting an increase of 754.2% from the prior-year figure.

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


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Chevron Corporation (CVX) : Free Stock Analysis Report
 
Hess Corporation (HES) : Free Stock Analysis Report
 
EQT Corporation (EQT) : Free Stock Analysis Report
 
Equinor ASA (EQNR) : Free Stock Analysis Report
 
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