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Chesapeake (CHK) to Report Q1 Earnings: What's in Store?
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Chesapeake Energy Corporation 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
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 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 - Free Report) 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 - Free Report) 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.
Image: Bigstock
Chesapeake (CHK) to Report Q1 Earnings: What's in Store?
Chesapeake Energy Corporation 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-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 - Free Report) 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 - Free Report) 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 - Free Report) 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.