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Cactus (WHD) Gears Up for Q4 Earnings: What's in Store?
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Cactus, Inc. (WHD - Free Report) is set to report fourth-quarter 2023 earnings on Feb 28, after the closing bell.
In the last reported quarter, the company’s earnings of 80 cents per unit missed the Zacks Consensus Estimate of 81 cents. Cactus’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 11.6%. This is depicted in the graph below.
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 68 cents has witnessed no revisions over the past 30 days. The estimated figure suggests an improvement from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter revenues of $266.6 million indicates a 41.9% surge 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.
Like oil, natural gas prices in the December quarter were also lower year over year.
Lower commodity prices have decreased exploration and production activities in the fourth quarter, likely hurting the demand for engineered pressure control and spoolable pipe technologies. This is expected to have affected Cactus since it is a well-known provider of engineered pressure control and spoolable pipe technologies that are being utilized in onshore unconventional oil and gas well.
Earnings Whispers
Our proven model does not indicate an earnings beat for WHD 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: WHD’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 #4 (Sell).
Stocks to Consider
Here are three firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
The company is scheduled to release fourth-quarter earnings on Feb 27. The Zacks Consensus Estimate for CEG’s earnings is pegged at $1.71 per share, suggesting a massive improvement from the year-ago figure.
Kinetik Holdings Inc. (KNTK - Free Report) currently has an Earnings ESP of +0.73% and a Zacks Rank #3.
Kinetik Holdings is scheduled to release fourth-quarter earnings on Feb 28. The Zacks Consensus Estimate for KNTK’s earnings is pegged at 46 cents per share.
PHX Minerals Inc. (PHX - Free Report) has an Earnings ESP of +9.09% and is a Zacks #3 Ranked player at present.
PHX Minerals is scheduled to release results on Mar 12. The Zacks Consensus Estimate for PHX Minerals’ earnings is pegged at 6 cents per share, suggesting a year-over-year decline.
Image: Bigstock
Cactus (WHD) Gears Up for Q4 Earnings: What's in Store?
Cactus, Inc. (WHD - Free Report) is set to report fourth-quarter 2023 earnings on Feb 28, after the closing bell.
In the last reported quarter, the company’s earnings of 80 cents per unit missed the Zacks Consensus Estimate of 81 cents. Cactus’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 11.6%. This is depicted in the graph below.
Cactus, Inc. Price and EPS Surprise
Cactus, Inc. price-eps-surprise | Cactus, Inc. Quote
Estimate Trend
The Zacks Consensus Estimate for fourth-quarter earnings per unit of 68 cents has witnessed no revisions over the past 30 days. The estimated figure suggests an improvement from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter revenues of $266.6 million indicates a 41.9% surge 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.
Like oil, natural gas prices in the December quarter were also lower year over year.
Lower commodity prices have decreased exploration and production activities in the fourth quarter, likely hurting the demand for engineered pressure control and spoolable pipe technologies. This is expected to have affected Cactus since it is a well-known provider of engineered pressure control and spoolable pipe technologies that are being utilized in onshore unconventional oil and gas well.
Earnings Whispers
Our proven model does not indicate an earnings beat for WHD 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: WHD’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 #4 (Sell).
Stocks to Consider
Here are three firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Constellation Energy Corporation (CEG - Free Report) currently has an Earnings ESP of +2.05% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release fourth-quarter earnings on Feb 27. The Zacks Consensus Estimate for CEG’s earnings is pegged at $1.71 per share, suggesting a massive improvement from the year-ago figure.
Kinetik Holdings Inc. (KNTK - Free Report) currently has an Earnings ESP of +0.73% and a Zacks Rank #3.
Kinetik Holdings is scheduled to release fourth-quarter earnings on Feb 28. The Zacks Consensus Estimate for KNTK’s earnings is pegged at 46 cents per share.
PHX Minerals Inc. (PHX - Free Report) has an Earnings ESP of +9.09% and is a Zacks #3 Ranked player at present.
PHX Minerals is scheduled to release results on Mar 12. The Zacks Consensus Estimate for PHX Minerals’ earnings is pegged at 6 cents per share, suggesting a year-over-year decline.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.