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Enerplus (ERF) to Report Q2 Earnings: What's in the Cards?

·3 min read

Enerplus Corporation ERF is set to report second-quarter 2022 earnings results on Aug 4, after the closing bell.

In the last reported quarter, the upstream energy player’s earnings of 58 cents per share beat the Zacks Consensus Estimate of 55 cents, owing to higher oil-equivalent production volumes and commodity price realizations.

In the trailing four quarters, Enerplus’ bottom line beat the Zacks Consensus Estimate once and missed the same thrice, the average negative surprise being 12.8%. This is depicted in the graph below:

Enerplus Corporation Price and EPS Surprise

 

Enerplus Corporation Price and EPS Surprise
Enerplus Corporation Price and EPS Surprise

Enerplus Corporation price-eps-surprise | Enerplus Corporation Quote

Let’s delve into the factors that are anticipated to have influenced Enerplus’ performance in the June-end quarter.

Estimate Trend

The Zacks Consensus Estimate for its second-quarter earnings per share of 74 cents has witnessed no upward revision and one downward movement in the past 30 days. The estimate suggests a 236.4% increase from the year-ago reported figure.

Factors to Note

In the June-end quarter of 2022, oil and natural gas prices were significantly higher than the year-ago quarter. Higher commodity prices are expected to have aided Enerplus’ operations in the second quarter.

The Zacks Consensus Estimate for Enerplus’ average daily production is pegged at 95,226 barrels of oil equivalent per day (Boe/d), suggesting a decline from 115,351 Boe/d reported in the year-ago quarter. Although production is likely to have declined, higher commodity prices are expected to have aided the company’s bottom line in the to-be-reported quarter.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for Enerplus 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: Enerplus’ Earnings ESP is +5.41%. This is because the Most Accurate Estimate is currently pegged at earnings of 78 cents per share, while the Zacks Consensus Estimate is pegged at 74 cents per share. 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 #5 (Strong Sell).

Stocks to Consider

Here are some companies that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Suncor Energy, Inc. SU has an Earnings ESP of +11.91% and is currently a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.

Suncor is scheduled to release second-quarter results on Aug 4. The Zacks Consensus Estimate for SU’s quarterly earnings is pegged at $1.74 per share, suggesting an improvement from the prior-year figure.

ConocoPhillips COP currently has an Earnings ESP of +1.21% and a Zacks Rank #3.

ConocoPhillips is scheduled to release second-quarter earnings on Aug 4. The Zacks Consensus Estimate for COP’s earnings is pegged at $3.78 per share, suggesting a significant increase from the prior-year reported figure.

Murphy Oil Corporation MUR currently has an Earnings ESP of +3.32% and a Zacks Rank #3.

Murphy Oil is scheduled to release second-quarter earnings on Aug 4. The Zacks Consensus Estimate for MUR’s earnings is pegged at $1.42 per share, suggesting a significant improvement from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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ConocoPhillips (COP) : Free Stock Analysis Report
 
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