Yahoo Finance MPLX Set to Report Q1 Earnings: Is a Beat in the Offing?
MPLX LP MPLX is set to report first-quarter 2024 earnings on Apr 30, before the opening bell.
In the last reported quarter, the partnership’s earnings of $1.10 per unit beat the Zacks Consensus Estimate of 95 cents, primarily due to higher contributions from both segments. A decline in total costs and expenses also contributed to the solid quarterly performance.
MPLX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, the average surprise being 7.3%. 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 MPLX’s first-quarter earnings per share of 99 cents has witnessed one upward revision and one downward movement over the past 30 days. The estimated figure suggests an 8.8% increase from the year-ago reported number.
The Zacks Consensus Estimate for first-quarter revenues of $2.9 billion indicates an 8.1% increase 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 +3.78%. 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 #3.
Factors to Consider
As a midstream energy company, MPLX benefits from a stable business model that is less susceptible to fluctuations in oil and natural gas prices. With an extensive network of crude oil and refined products pipelines and storage assets, the partnership is expected to have generated consistent fee-based revenues during the March quarter.
Increasing throughput volumes is also likely to have aided the partnership’s bottom line. The Zacks Consensus Estimate for MPLX’s total pipeline throughput volumes for the first quarter is pegged at 5,839 million barrels per day (bpd), suggesting an increase from the 5,630 million bpd reported in the prior-year quarter.
Other Stocks to Consider
Here are some other firms worth considering, as these, too, have the right combination of elements to beat on earnings in the upcoming quarterly reports:
EOG Resources Inc. EOG has an Earnings ESP of +0.90% and a Zacks Rank #2. The firm is scheduled to release earnings on May 2.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The 2024 Zacks Consensus Estimate for EOG indicates 5.1% year-over-year earnings per unit growth. It has a trailing four-quarter earnings surprise of 8.7%, on average.
Diamondback Energy, Inc. FANG has an Earnings ESP of +1.61% and a Zacks Rank #3. The firm is scheduled to release earnings on Apr 30.
The 2024 Zacks Consensus Estimate for Diamondback indicates a 4.6% year-over-year earnings per share improvement.
DT Midstream DTM has an Earnings ESP of +3.59% and a Zacks Rank #2. The firm is scheduled to release earnings on Apr 30.
DT Midstream beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of 9.8%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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EOG Resources, Inc. (EOG) : Free Stock Analysis Report
MPLX LP (MPLX) : Free Stock Analysis Report
Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report
DT Midstream, Inc. (DTM) : Free Stock Analysis Report
