Yahoo Finance Energy Transfer (ET) to Post Q1 Earnings: What's in Store?
Energy Transfer LP ET is scheduled to release first-quarter 2023 results on May 2, after market close. In the last reported quarter, the oil and gas midstream firm reported a negative earnings surprise of 8.11%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Energy Transfer’s pipelines are spread across every major production basin, ensuring diverse earnings sources that are likely to have boosted first-quarter earnings. Fee-based contracts of the firm are also expected to have aided first-quarter earnings.
Energy Transfer’s first-quarter earnings are likely to have benefited from the contributions of Grey Wolf Processing plant and the Gulf Run Pipeline both of which started commercial operation during fourth-quarter 2022.
Expectation
The Zacks Consensus Estimate for first-quarter earnings is pegged at 34 cents per unit, implying a year-over-year decline of 8.11%.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for Energy Transfer 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.
Energy Transfer LP Price and EPS Surprise
Energy Transfer LP price-eps-surprise | Energy Transfer LP Quote
Earnings ESP: The company has an Earnings ESP of +1.19%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Energy Transfer has a Zacks Rank #4 (Sell).
Stocks to Consider
Here are a few companies from the same sector that have the right combination of elements to beat on earnings in the upcoming releases.
Clearway Energy CWEN is set to release first-quarter 2023 results on May 4. CWEN has an Earnings ESP of +2.04% and sports a Zacks Rank #1.
Long-term (three- to five-year) earnings growth of the company is pegged at 10%. The Zacks Consensus Estimate for 2023 earnings of Clearway Energy is $1.84 per share, which indicates growth of 149.3% from the prior-year period.
Sunoco LP SUN is set to release first-quarter 2023 results on May 2. SUN has an Earnings ESP of +5.66% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for 2023 earnings of Sunoco is $4.37 per share, which indicates an increase of 1.4% in the past sixty days.
Cactus, Inc. WHD is set to release first-quarter 2023 results on May 9. WHD has an Earnings ESP of +1.79% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for 2023 earnings of Cactus is $2.67 per share, which indicates 45.1% growth from the year-ago period. Long-term earnings growth of the company is pegged at 52.4%
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Sunoco LP (SUN) : Free Stock Analysis Report
Energy Transfer LP (ET) : Free Stock Analysis Report
Cactus, Inc. (WHD) : Free Stock Analysis Report
Clearway Energy, Inc. (CWEN) : Free Stock Analysis Report
