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HighPeak (HPK) to Report Q2 Earnings: What's in the Cards?

Zacks Equity Research
·3 min read

HighPeak Energy Inc. HPK is set to report second-quarter 2022 earnings results on Aug 8, after the closing bell.

In the last reported quarter, the independent oil and natural gas company’s earnings of 32 cents per share missed the Zacks Consensus Estimate of 51 cents. In the trailing four quarters, HighPeak’s bottom line beat the Zacks Consensus Estimate once and missed the same thrice, the average negative surprise being 16%. This is depicted in the graph below:

HighPeak Energy, Inc. Price and EPS Surprise

 

HighPeak Energy, Inc. Price and EPS Surprise
HighPeak Energy, Inc. Price and EPS Surprise

HighPeak Energy, Inc. price-eps-surprise | HighPeak Energy, Inc. Quote

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

Estimate Trend

The Zacks Consensus Estimate for its second-quarter earnings per share of 76 cents has witnessed no upward revision and one downward movement in the past 30 days. The consensus estimate suggests a significant increase from 6 cents reported in the year-ago quarter.

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The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $168 million indicates a 250% improvement 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 HighPeak’s bottom line in the to-be-reported quarter as the company explores and produces crude oil and natural gas in the Permian Basin of West Texas, one of the most prolific oil and gas producing regions in the country.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for HighPeak 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: HighPeak’s Earnings ESP is -9.93%. This is because the Most Accurate Estimate is currently pegged at earnings of 68 cents per share, while the Zacks Consensus Estimate is pegged at 76 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:

Calumet Specialty Products Partners, LP CLMT has an Earnings ESP of +30% and is currently a Zacks #2 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.

Calumet is scheduled to release second-quarter results on Aug 5. The Zacks Consensus Estimate for CLMT’s quarterly earnings is pegged at 25 cents per share, suggesting an improvement from the prior-year figure.

Dutch Bros Inc. BROS currently has an Earnings ESP of +42.86% and a Zacks Rank #3.

Dutch Bros is scheduled to release second-quarter earnings on Aug 10. The Zacks Consensus Estimate for BROS’ earnings is pegged at 7 cents per share, suggesting a significant increase from the prior-year reported figure.

Axsome Therapeutics AXSM currently has an Earnings ESP of +22.11% and a Zacks Rank #3.

Axsome is scheduled to release second-quarter earnings on Aug 9. The Zacks Consensus Estimate for AXSM’s earnings is pegged at a loss of $1.19 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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Calumet Specialty Products Partners, L.P. (CLMT) : Free Stock Analysis Report
 
Axsome Therapeutics, Inc. (AXSM) : Free Stock Analysis Report
 
HighPeak Energy, Inc. (HPK) : Free Stock Analysis Report
 
Dutch Bros Inc. (BROS) : Free Stock Analysis Report
 
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