What's in the Cards for SM Energy This Earnings Season?

SM Energy Company SM is set to report third-quarter 2024 results on Oct. 31, after the closing bell.In the last reported quarter, the leading upstream energy player’s adjusted earnings of $1.85 per share beat the Zacks Consensus Estimate of $1.57 due to increased oil equivalent production volumes and high average realized price.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company beat on earnings in each of the trailing four quarters, delivering an average surprise of 11.92%. This is depicted in the graph below:SM Energy Company Price and EPS Surprise SM Energy Company price-eps-surprise | SM Energy Company QuoteSM’s Estimate TrendThe Zacks Consensus Estimate for third-quarter earnings per share of $1.52 has witnessed three downward movements and one upward movement in the past 30 days. The consensus estimate implies a decline of 12.1% from the year-ago reported number.The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $651.1 million indicates almost a 2% improvement from the year-ago reported figure.Factors to Consider for SMAccording to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $81.80 per barrel in July, $76.68 per barrel in August and $70.24 per barrel in September. This indicates that the crude pricing environment in the third quarter was highly favorable for exploration and production activities.Favorable commodity prices are likely to have aided the upstream energy major's exploration and production activities, which are expected to have increased oil and gas equivalent volumes. The Zacks Consensus Estimate for SM’s total production is pegged at 15.17 MMBoe, suggesting an improvement from 14.1 MMBoe in the prior-year reported quarter.Earnings WhispersOur proven model doesn’t predict an earnings beat for SM Energy 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 not the case here, as you will see below.Earnings ESP: SM has an Earnings ESP of -6.29%. 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 #4 (Sell).Stocks to ConsiderHere are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.Cheniere Energy, Inc. LNG has an Earnings ESP of +12.21% and a Zacks Rank #3.Cheniere Energy is scheduled to release third-quarter earnings on Oct. 31. The Zacks Consensus Estimate for LNG’s earnings is pegged at $1.87 per share, suggesting a 21.1% decrease from the prior-year reported figure.Exxon Mobil Corporation XOM has an Earnings ESP of +0.02% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.ExxonMobil is scheduled to release third-quarter earnings on Nov. 1. The Zacks Consensus Estimate for earnings is pegged at $1.95 per share, suggesting a decline of 14.1% from the prior-year reported figure.Sunoco LP SUN has an Earnings ESP of +13.44% and a Zacks Rank #2.Sunoco is scheduled to release third-quarter earnings on Nov. 6. The Zacks Consensus Estimate for earnings is pegged at $1.53 per share, suggesting a 48% decrease from the prior-year reported figure.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report SM Energy Company (SM): Free Stock Analysis Report Cheniere Energy, Inc. (LNG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks