We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is a Beat in the Offing for MPLX This Earnings Season?
Read MoreHide Full Article
MPLX LP (MPLX - Free Report) is set to report third-quarter 2023 earnings on Oct 31, before the opening bell.
In the last reported quarter, the partnership’s earnings of 91 cents per share beat the Zacks Consensus Estimate of 86 cents, thanks to increased pipeline throughputs and gathering throughput. MPLX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 6.7%. This is depicted in the graph below:
The Zacks Consensus Estimate for third-quarter earnings per share of 91 cents has witnessed one upward revision over the past 30 days. The estimated figure suggests a 5.2% decline from the year-ago reported number.
The Zacks Consensus Estimate for third-quarter revenues of $2.7 billion indicates a 21.7% decline from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for MPLX 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 just the case here.
Earnings ESP: MPLX has an Earnings ESP of +0.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: MPLX currently carries a Zacks Rank #2.
Factors to Consider
Being a midstream energy player, MPLX has a stable business model and is not significantly exposed to volatility in oil and natural gas prices. Thus, banking on a huge network of crude oil and refined products pipeline and storage assets, the partnership is likely to have generated stable fee-based revenues in the September quarter.
The favorable crude oil pricing scenario in the third quarter is likely to have aided production, which in turn is expected to have improved demand for midstream assets. Thus, we expect crude oil pipeline throughput volumes to have increased 2.9% year over year in the third quarter.
Other Stocks to Consider
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:
The partnership is scheduled to release third-quarter earnings on Nov 6. The Zacks Consensus Estimate for VNOM’s earnings is pegged at 40 cents per share, suggesting a decline from the year-ago figure.
Callon Petroleum Company has an Earnings ESP of +2.88% and is currently a Zacks #2 Ranked player.
The company is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for CPE’s earnings is pegged at $1.76 per share.
Chevron Corporation (CVX - Free Report) has an Earnings ESP of +1.13% and is a Zacks #2 Ranked player at present.
Chevron is scheduled to release third-quarter results on Oct 27. The Zacks Consensus Estimate for CVX’s earnings is pegged at $3.63 per share.
Image: Shutterstock
Is a Beat in the Offing for MPLX This Earnings Season?
MPLX LP (MPLX - Free Report) is set to report third-quarter 2023 earnings on Oct 31, before the opening bell.
In the last reported quarter, the partnership’s earnings of 91 cents per share beat the Zacks Consensus Estimate of 86 cents, thanks to increased pipeline throughputs and gathering throughput. MPLX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average surprise being 6.7%. This is depicted in the graph below:
MPLX LP Price and EPS Surprise
MPLX LP price-eps-surprise | MPLX LP Quote
Estimate Trend
The Zacks Consensus Estimate for third-quarter earnings per share of 91 cents has witnessed one upward revision over the past 30 days. The estimated figure suggests a 5.2% decline from the year-ago reported number.
The Zacks Consensus Estimate for third-quarter revenues of $2.7 billion indicates a 21.7% decline from the year-ago reported figure.
Earnings Whispers
Our proven model predicts an earnings beat for MPLX 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 just the case here.
Earnings ESP: MPLX has an Earnings ESP of +0.82%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: MPLX currently carries a Zacks Rank #2.
Factors to Consider
Being a midstream energy player, MPLX has a stable business model and is not significantly exposed to volatility in oil and natural gas prices. Thus, banking on a huge network of crude oil and refined products pipeline and storage assets, the partnership is likely to have generated stable fee-based revenues in the September quarter.
The favorable crude oil pricing scenario in the third quarter is likely to have aided production, which in turn is expected to have improved demand for midstream assets. Thus, we expect crude oil pipeline throughput volumes to have increased 2.9% year over year in the third quarter.
Other Stocks to Consider
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:
Viper Energy Partners LP (VNOM - Free Report) currently has an Earnings ESP of +18.60% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The partnership is scheduled to release third-quarter earnings on Nov 6. The Zacks Consensus Estimate for VNOM’s earnings is pegged at 40 cents per share, suggesting a decline from the year-ago figure.
Callon Petroleum Company has an Earnings ESP of +2.88% and is currently a Zacks #2 Ranked player.
The company is scheduled to release third-quarter results on Nov 1. The Zacks Consensus Estimate for CPE’s earnings is pegged at $1.76 per share.
Chevron Corporation (CVX - Free Report) has an Earnings ESP of +1.13% and is a Zacks #2 Ranked player at present.
Chevron is scheduled to release third-quarter results on Oct 27. The Zacks Consensus Estimate for CVX’s earnings is pegged at $3.63 per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.