Nine Energy (NINE) Gears Up for Q4 Earnings: What's in Store?
Nine Energy Service, Inc. NINE is set to report fourth-quarter 2023 earnings on Mar 8, before the opening bell.
In the last reported quarter, the company’s loss of 39 cents per share was narrower than the Zacks Consensus Estimate of loss of 47 cents. Nine Energy’s bottom line beat the Zacks Consensus Estimate in one of the trailing four quarters and missed the same thrice, delivering an average negative surprise of 53.3%. This is depicted in the graph below.
Estimate Trend
The Zacks Consensus Estimate for fourth-quarter loss per share of 35 cents has witnessed no revisions over the past 30 days. The estimated figure suggests a decline from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter revenues of $142 million indicates a 14.8% decline from the year-ago reported figure.
Factors to Consider
Per data provided by the U.S. Energy Information Administration, the average spot West Texas Intermediate crude prices per barrel in October, November and December were $85.64, $77.69 and $71.90, respectively. Although the prices were not as high as in the year-ago quarter, the commodity prices, higher than the $70 per barrel mark, were impressive and healthy. The pricing environment of Brent crude was also lower year over year.
Moreover, like oil, natural gas prices in the December quarter were lower year over year.
Thus, not so favorable commodity prices are likely to have hurt exploration and production operations. This, in turn, has likely reduced demand for the company’s oilfield services, comprising completion solutions.
Earnings Whispers
Our proven model does not indicate an earnings beat for Nine 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. That is not the case here, as you will see below.
Earnings ESP: NINE’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: The company currently carries a Zacks Rank #3.
Stocks to Consider
Here are three firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
American Eagle Outfitters AEO currently has an Earnings ESP of +1.13% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release fourth-quarter fiscal earnings on Mar 7. The Zacks Consensus Estimate for AEO’s earnings is pegged at 50 cents per share, suggesting a 35.1% improvement from the year-ago figure.
Arhaus ARHS currently has an Earnings ESP of +8.62% and a Zacks Rank #3.
Arhaus is scheduled to release fourth-quarter earnings on Mar 7. The Zacks Consensus Estimate for ARHS’ earnings is pegged at 17 cents per share.
Burlington Stores, Inc. BURL has an Earnings ESP of +2.32% and is a Zacks #3 Ranked player at present.
Burlington Stores is scheduled to release results on Mar 7. The Zacks Consensus Estimate for BURL’s earnings is pegged at $3.27 per share, suggesting a year-over-year improvement.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
Burlington Stores, Inc. (BURL) : Free Stock Analysis Report
Nine Energy Service, Inc. (NINE) : Free Stock Analysis Report
Arhaus, Inc. (ARHS) : Free Stock Analysis Report
