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Is a Beat in Store for EQT Corporation (EQT) in Q2 Earnings?
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EQT Corporation (EQT - Free Report) is set to report second-quarter 2022 results on Jul 27, after the closing bell.
In the last reported quarter, EQT Corporation posted earnings of 81 cents per share, missing the Zacks Consensus Estimate of $1.04 owing to higher operating expenses.
In the trailing four quarters, EQT Corporation beat the Zacks Consensus Estimate twice and missed twice, delivering an earnings surprise of 93.3%, on average. This is depicted in the graph below:
The Zacks Consensus Estimate for EQT Corporation’s second-quarter earnings per share of 62 cents has witnessed four upward and three downward movements in the past 60 days. The consensus estimate suggests an increase of 785.7% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $1.5 billion indicates a 52.2% improvement.
Earnings Whispers
Our proven model predicts an earnings beat for EQT Corporation 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: EQT Corporation has an Earnings ESP of +16.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EQT Corporation currently carries a Zacks Rank #2.
Key Factors
The pricing scenario of natural gas was considerably higher in the second quarter of this year compared with the year-ago period. Per data from the U.S. Energy Information Administration, the monthly Henry Hub natural gas spot prices for April, May and June were $6.60 per million Btu, $8.14 per million Btu and $7.70 per million Btu, respectively. The commodity prices were higher than last year’s prices of $2.66 per million Btu, $2.91 per million Btu and $3.26 per million Btu, respectively. This is likely to have positively impacted the quarter’s earnings.
High gas price was favorable for exploration and production operations of EQT Corporation in the June quarter since the firm is a well-known name in the energy space with a strong footprint in the cores of the Marcellus and Utica Shales in the Appalachian Basin.
Other Stocks That Warrant a Look
Here are some other firms that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Hess is scheduled to release second-quarter results on Jul 27. The Zacks Consensus Estimate for HES’ earnings is pegged at $2.05 per share, suggesting an increase of 754.2% from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +19.61% and a Zacks Rank of 3.
Comstock is scheduled to report second-quarter results on Aug 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at 78 cents per share, suggesting a significant increase from the prior-year reported figure.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +10.22% and a Zacks Rank #1.
Valero Energy is scheduled to release second-quarter earnings on Jul 28. The Zacks Consensus Estimate for Valero Energy’s earnings is pegged at $8.38 per share, suggesting a massive increase from the prior-year reported figure.
Image: Bigstock
Is a Beat in Store for EQT Corporation (EQT) in Q2 Earnings?
EQT Corporation (EQT - Free Report) is set to report second-quarter 2022 results on Jul 27, after the closing bell.
In the last reported quarter, EQT Corporation posted earnings of 81 cents per share, missing the Zacks Consensus Estimate of $1.04 owing to higher operating expenses.
In the trailing four quarters, EQT Corporation beat the Zacks Consensus Estimate twice and missed twice, delivering an earnings surprise of 93.3%, on average. This is depicted in the graph below:
EQT Corporation Price and EPS Surprise
EQT Corporation price-eps-surprise | EQT Corporation Quote
Estimate Trend
The Zacks Consensus Estimate for EQT Corporation’s second-quarter earnings per share of 62 cents has witnessed four upward and three downward movements in the past 60 days. The consensus estimate suggests an increase of 785.7% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $1.5 billion indicates a 52.2% improvement.
Earnings Whispers
Our proven model predicts an earnings beat for EQT Corporation 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: EQT Corporation has an Earnings ESP of +16.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: EQT Corporation currently carries a Zacks Rank #2.
Key Factors
The pricing scenario of natural gas was considerably higher in the second quarter of this year compared with the year-ago period. Per data from the U.S. Energy Information Administration, the monthly Henry Hub natural gas spot prices for April, May and June were $6.60 per million Btu, $8.14 per million Btu and $7.70 per million Btu, respectively. The commodity prices were higher than last year’s prices of $2.66 per million Btu, $2.91 per million Btu and $3.26 per million Btu, respectively. This is likely to have positively impacted the quarter’s earnings.
High gas price was favorable for exploration and production operations of EQT Corporation in the June quarter since the firm is a well-known name in the energy space with a strong footprint in the cores of the Marcellus and Utica Shales in the Appalachian Basin.
Other Stocks That Warrant a Look
Here are some other firms that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
Hess Corporation (HES - Free Report) has an Earnings ESP of +3.73% and is a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hess is scheduled to release second-quarter results on Jul 27. The Zacks Consensus Estimate for HES’ earnings is pegged at $2.05 per share, suggesting an increase of 754.2% from the prior-year reported figure.
Comstock Resources, Inc. (CRK - Free Report) has an Earnings ESP of +19.61% and a Zacks Rank of 3.
Comstock is scheduled to report second-quarter results on Aug 1. The Zacks Consensus Estimate for CRK’s earnings is pegged at 78 cents per share, suggesting a significant increase from the prior-year reported figure.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +10.22% and a Zacks Rank #1.
Valero Energy is scheduled to release second-quarter earnings on Jul 28. The Zacks Consensus Estimate for Valero Energy’s earnings is pegged at $8.38 per share, suggesting a massive increase from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.