Southwestern Energy Company SWN is set to report earnings results in the first quarter of 2022 on Apr 28, after the closing bell.
In the last reported quarter, the upstream energy player’s earnings of 31 cents per share fell short of the Zacks Consensus Estimate of 28 cents, due to higher gas-equivalent production volumes and commodity price realizations.
Southwestern’s bottom line beat the Zacks Consensus Estimate three times and missed it once in the last four quarters, a surprise average of 3.2%. This is illustrated in the graph below:
Southwestern Energy Company Price and EPS Surprise
Price-eps-surprise by Southwestern Energy Company | Southwestern Energy Company Quote
Let’s take a look at how things developed before this announcement.
Estimate the Trend
Zacks Consensus Estimate for its first quarter earnings per share of 37 cents has witnessed three upward changes and two downward movements over the past 30 days. The estimate suggests a 27.6% increase from last year’s reported number.
The Zacks Consensus Estimate for reported quarterly revenues of $ 1.6 billion indicates a 57.3% improvement from last year’s reported number.
Revenue Whispers
Our proven model certainly predicts a loss in revenue for Southwestern 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 beating earnings.
ESP is earned: Southwestern’s Revenue ESP is +0.39%. You can discover the best stocks to buy or sell before they are reported using our ESP Revenue Filter.
Zacks’s rank: The company currently has Zacks Rank #3.
Factors to Consider
By the end of March of the 2022 quarter, oil and natural gas prices were significantly higher than in the previous quarter. Higher commodity prices are expected to help Southwestern’s operations in the first quarter. This is because the company owns significant assets in the vast Appalachian Basin, which is famous for its natural gas reservoirs.
The Zacks Consensus Estimate for Southwestern’s total production is pegged at 421 billion cubic feet equivalent (Bcfe), suggesting an increase from 269 Bcfe last quarter. Furthermore, the Zacks Consensus Estimate for its total gas production is pegged at 372 billion cubic feet (Bcf), suggesting an improvement from 214 Bcf in the previous quarter.
Thus, higher oil and gas prices were favorable for the company’s exploration and production activities in the to-be-reported quarter.
Other Stocks to Consider
Here are some other companies you might consider, as they also have the right combination of elements to post earnings in upcoming quarterly reports:
EOG Resources EOG has an ESP Revenue of +1.02% and is a Zacks #2 Ranked player currently.
EOG Resources is scheduled to release first quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $ 3.57 per share, suggesting a 120.4% increase from the previous year.
Hess Corporation HES has an ESP Revenue of +10.25% and is currently Zacks #1 Ranked player.
Hess Corporation is scheduled to release first quarter results on Apr. 27. The Zacks Consensus Estimate for HES’s quarterly earnings is pegged at $ 1.03 per share, suggesting a substantial improvement from the previous year.
ConocoPhillips COP has Earnings ESP of +6.47% and it currently shows Zacks Rank #1.
ConocoPhillips is scheduled to release first-quarter earnings on May 5. The Zacks Consensus Estimate for COP earnings is pegged at $ 3.04 per share, suggesting a massive increase from last year’s reported number. .
Stay up to date with upcoming earnings announcements with the Zacks Earnings Calendar.
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ConocoPhillips (COP): Free Stock Analysis Report
Hess Corporation (HES): Free Stock Analysis Report
Southwestern Energy Company (SWN): Free Stock Analysis Report
EOG Resources, Inc. (EOG): Free Stock Analysis Report
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