What's in the Cards for Golar LNG (GLNG) in Q3 Earnings?
Golar LNG Limited GLNG is scheduled to report third-quarter 2022 results on Nov 16, before market open.
The Zacks Consensus Estimate for GLNG’s third-quarter 2022 earnings has been revised upward by more than 100% in the past 90 days to 24 cents per share. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 74.34%.
Golar LNG Limited Price and EPS Surprise
Golar LNG Limited price-eps-surprise | Golar LNG Limited Quote
Let’s see how things are shaping up for Golar LNG this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Golar LNG’s third-quarter 2022 revenues is pegged at $64.95 billion, indicating a 38.37% decline year over year. Golar LNG continues to grapple with increasing operating expenses as a result of the rise in vessel operating expenses. This is likely to hurt Golar LNG’s bottom line also.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Golar LNG 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Golar LNG has an Earnings ESP of 0.00% and a Zacks Rank #2.
Highlights of Q2
GLNG’s second-quarter 2022 earnings (excluding $1.73 from non-recurring items) of 40 cents per share surpassed the Zacks Consensus Estimate of 26 cents. The bottom line improved 50.8% year over year. Adjusted revenues of $66.5 million missed the Zacks Consensus Estimate of $89.7 million. The top line dropped 36.25% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their respective upcoming earnings:
United Airlines UAL has an Earnings ESP of +28.54% and a Zacks Rank #2. You can seethe complete list of today’s Zacks #1 Rank stocks here.
UAL has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 7.77%, on average.
Pyxis Tankers PXS has an Earnings ESP of +12.82% and a Zacks Rank of 2, currently. PXS’ earnings surpassed the Zacks Consensus Estimate in one of the trailing four quarters, missed the mark twice and came in line with the same on the remaining occasion. The average negative surprise is 30.1%.
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