Natural gas producer Expand Energy (NASDAQ: EXE) will be announcing earnings results this Tuesday afternoon. Here’s what to look for.
Expand Energy beat analysts’ revenue expectations last quarter, reporting revenues of $3.10 billion, up 38.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates. It reported 16,000 oil production per day, up 33.3% year on year.
Is Expand Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Expand Energy’s revenue to decline 6.4% year on year, a reversal from the 256% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Expand Energy rarely misses Wall Street’s revenue estimates.
Looking at Expand Energy’s peers in the upstream & integrated segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Kinder Morgan delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 3.3%, and World Kinect reported revenues up 2.5%, topping estimates by 10.4%. Kinder Morgan’s stock price was unchanged after the resultswhile World Kinect was up 10.9%.
Read our full analysis of Kinder Morgan’s results here and World Kinect’s results here.
Investors in the upstream & integrated segment have had steady hands going into earnings, with share prices flat over the last month. Expand Energy is down 13.2% during the same time and is heading into earnings with an average analyst price target of $132.35 (compared to the current share price of $96.74).
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