TotalEnergies (NYSE:TTE) is set to report second-quarter 2022 earnings on Jul 28, before the opening bell. This company delivered an average earnings surprise of 21.86% in the last four reported quarters.
Let's focus on the factors that might have impacted its second-quarter performance.
Factors at Play
The second-quarter performance of TTE is likely to have benefited from contribution from start-ups and strong oil and gas prices.
TotalEnergies continued to strengthen the overall portfolio through acquisitions and monetization of non-core assets. Share repurchases during the first half of 2022 are likely to have had a positive impact on earnings. However, positive developments are expected to be marginally offset by gradual suspension of TotalEnergies' operation in Russia.
Expectation
The Zacks Consensus Estimate for second-quarter earnings per share is $3.46 which indicates 172.4% growth from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model conclusively predicts an earnings beat for TotalEnergies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below.
You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
TotalEnergies SE Sponsored ADR Price and EPS Surprise
TotalEnergies SE Sponsored ADR price-eps-surprise | TotalEnergies SE Sponsored ADR Quote
Earnings ESP: The company has an Earnings ESP of +4.67%.
Zacks Rank: TotalEnergies currently carries a Zacks Rank of 2.
Other Stocks to Consider
Investors can also consider the following players from the same sector that have the right combination of elements to post an earnings beat for the to-be-reported quarter.
Range Resources Corporation (NYSE:RRC) is set to release second-quarter 2022 results on Jul 25. RRC has an Earnings ESP of +11.56% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for 2022 earnings of Range Resources is $5.06 per share, which indicates growth of 150.5% from the prior-year period.
Valero Energy (NYSE:VLO) is set to release second-quarter 2022 results on Jul 28. VLO has an Earnings ESP of +10.22% and a Zacks Rank #1.
The Zacks Consensus Estimate for 2022 earnings of Valero Energy is $20.53 per share which indicates a 630.6% surge from the prior-year period.
Devon Energy Corporation (NYSE:DVN) is set to release second-quarter 2022 results on Aug 1. DVN has an Earnings ESP of +8.14% and a Zacks Rank #2.
The Zacks Consensus Estimate for 2022 earnings of Devon Energy is $9.04 per share, which indicates 156.1% growth from the year-ago period.
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