Yahoo Finance Is a Beat in Store for Valero Energy (VLO) in Q1 Earnings?
Valero Energy Corporation VLO is set to report first-quarter 2024 results on Apr 25, before the opening bell.
In the last reported quarter, Valero Energy beat the Zacks Consensus Estimate for the bottom line on a decline in total costs of sales. It surpassed the Zacks Consensus Estimate in each of the last four quarters, the average being 10.7%.
Let’s see how things have shaped up prior to this announcement.
Valero Energy Corporation Price and EPS Surprise
Valero Energy Corporation price-eps-surprise | Valero Energy Corporation Quote
Trend in Estimate Revision
The Zacks Consensus Estimate for first-quarter earnings per share of $3.88 has witnessed no downward revision and three upward revisions in the past 30 days. The estimated figure suggests a decline of 53.1% from the prior-year reported number.
The consensus estimate for first-quarter revenues of $32.4 billion indicates an 11.1% contraction from the year-ago reported figure.
What the Quantitative Model Suggests
Our proven model predicts an earnings beat for Valero 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. This is just the case here.
Earnings ESP: Valero Energy has an Earnings ESP of +26.07%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: Valero Energy currently carries a Zacks Rank #2.
Factors Driving the Better-Than-Expected Earnings
Amid a decline in refining capacity across the world, demand for refining products is likely to have improved in the first quarter.
Being a best-in-class oil refiner, Valero Energy is expected to have capitalized on the mounting demand for petroleum products. We expect VLO's first-quarter operating profit from the refining segment to improve from the previous quarter.
Other Stocks to Consider
Here are some other firms that you may want to consider, as these, too, have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
EOG Resources, Inc. EOG currently has an Earnings ESP of +1.10% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
EOG Resources is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $2.73 per share, implying a 1.5% increase from the prior-year reported figure.
Antero Resources AR presently has an Earnings ESP of +1,579.97% and a Zacks Rank #3.
Antero Resources is scheduled to release first-quarter earnings on Apr 24. The Zacks Consensus Estimate for AR’s quarterly earnings is pegged at break-even per share, indicating a 100% decline from the prior-year reported number.
Enbridge Inc. ENB currently has an Earnings ESP of +2.44% and a Zacks Rank #3.
Enbridge is scheduled to release first-quarter earnings on May 10. The Zacks Consensus Estimate for ENB’s quarterly earnings is pegged at 59 cents per share, indicating a 6.4% decrease from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Valero Energy Corporation (VLO) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
Enbridge Inc (ENB) : Free Stock Analysis Report
Antero Resources Corporation (AR) : Free Stock Analysis Report
