Phillips 66 (PSX) Gears Up for This autumn Earnings: What’s in Retailer?
Phillips 66 PSX is ready to report fourth-quarter 2022 outcomes on Jan 31, earlier than the opening bell.
Within the final reported quarter, the diversified vitality manufacturing and logistics firm’s adjusted earnings per share of $6.46 comfortably beat the Zacks Consensus Estimate of $4.98 on stronger refining margins worldwide.
Phillips 66 beat the Zacks Consensus Estimate for the underside line within the trailing 4 quarters, delivering an earnings shock of 28.1%, on common.
Let’s see how issues have formed up previous to the announcement.
Estimate Development
The Zacks Consensus Estimate for Phillips 66’s fourth-quarter earnings per share of $4.34 has witnessed two upward revisions and 5 downward actions prior to now 30 days. The consensus estimate suggests a year-over-year rise of 47.6%.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $34.3 billion signifies a 2.2% enchancment from the year-ago reported determine.
Components to Observe
Within the December-end quarter of 2022, the demand for refined petroleum merchandise improved considerably as a consequence of continued development in gasoline consumption. Being one of many world’s largest refiners, Phillips 66 is more likely to have benefitted from larger demand for its refined petroleum merchandise within the to-be-reported quarter.
The corporate is predicted to have reaped the rewards of a greater macro surroundings in its downstream enterprise. As such, the Zacks Consensus Estimate for realized refining margin on a worldwide foundation is pegged at $21.04 per barrel, indicating a rise from the year-ago reported degree of $11.60 per barrel. That is more likely to have positioned Phillips 66 for large earnings within the to-be-reported quarter.
Earnings Whispers
Our confirmed mannequin doesn’t conclusively predict an earnings beat for Phillips 66 this time round. The mixture of a constructive Earnings ESP and a Zacks Rank #1 (Sturdy Purchase), 2 (Purchase) or 3 (Maintain) will increase the possibilities of an earnings beat. As you may see, that’s not the case right here.
Earnings ESP: Phillips 66 has an Earnings ESP of 0.00%. It is because the Most Correct Estimate and the Zacks Consensus Estimate each are presently pegged at earnings of $4.34 per share. You’ll be able to uncover the perfect shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.
Zacks Rank: Phillips 66 presently carries a Zacks Rank #3.
Shares That Warrant a Look
Listed below are some firms from the Power house that you could be need to take into account, as our mannequin exhibits that these have the precise mixture of components to submit an earnings beat within the upcoming quarterly studies:
PBF Power Inc. PBF presently has an Earnings ESP of +9.17% and a Zacks Rank of three. You’ll be able to see the whole checklist of in the present day’s Zacks #1 Rank shares right here.
PBF Power is scheduled to report fourth-quarter outcomes on Feb 16. The Zacks Consensus Estimate for its earnings is pegged at $4.49 per share, suggesting a major improve from the prior-year quarter’s reported determine.
Sunoco LP SUN has an Earnings ESP of +5.13% and presently flaunts a Zacks Rank of 1.
Sunoco is scheduled to report fourth-quarter outcomes on Feb 15. The Zacks Consensus Estimate for SUN’s earnings is pegged at 78 cents per share, suggesting a decline from the prior-year quarter’s reported determine.
Patterson-UTI Power PTEN has an Earnings ESP of +5.53% and sports activities a Zacks Rank #1 at current.
Patterson-UTI Power is scheduled to launch earnings on Feb 8. The Zacks Consensus Estimate for PTEN’s earnings is pegged at 43 cents per share, suggesting a major improve from the prior-year quarter’s reported determine.
Keep on prime of upcoming earnings bulletins with the Zacks Earnings Calendar.
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PattersonUTI Energy, Inc. (PTEN) : Free Stock Analysis Report
Sunoco LP (SUN) : Free Stock Analysis Report
Phillips 66 (PSX) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report