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What's in Store for Icahn Enterprises (IEP) in Q2 Earnings?

Zacks Equity Research
·3-min read

Icahn Enterprises IEP is scheduled to release second-quarter 2022 earnings numbers on Aug 5.

Let’s take a look at the factors that are likely to have influenced the company’s second-quarter performance.

Increase in prices of gasoline and distillates, thanks to the Russia-Ukraine war, is likely to have boosted IEP’s petroleum business performance, which should get reflected in Energy segment revenues in the to-be-reported quarter. Favorable pricing is expected to have driven net sales in the nitrogen fertilizer business within the Energy segment.

With easing coronavirus-led restrictions, impressive performance of the hospitality business owing to increased demand for leisure and business travel is expected to have benefited the Home Fashion segment.

Icahn Enterprises L.P. Price and EPS Surprise

Icahn Enterprises L.P. Price and EPS Surprise
Icahn Enterprises L.P. Price and EPS Surprise

Icahn Enterprises L.P. price-eps-surprise | Icahn Enterprises L.P. Quote

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However, weakness in the Automotive segment due to lower aftermarket parts sales might have hurt Icahn Enterprises’ second-quarter performance. Lower volumes and unfavorable foreign-currency movements are likely to have weighed on the Food packaging segment revenues in the soon-to-be-reported quarter. Pharma segment net sales are also likely to have suffered from lower volumes.

High raw material and freight costs are expected to have dented Icahn Enterprises’ bottom line in the second quarter.

What Does the Zacks Model Say?

Our proven model does not conclusively predict an earnings beat for Icahn Enterprises 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 beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP: Icahn Enterprises has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate is pegged at 7 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Icahn Enterprises carries a Zacks Rank #2.

Highlights of Q1 Earnings

In the first quarter of 2022, Icahn Enterprises reported earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of 13 cents. The bottom line improved significantly year over year. Total revenues of $2,968 million also augmented year over year.

Stocks to Consider

Here are some companies that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.

Helios Technologies HLIO has an Earnings ESP of +0.57% and a Zacks Rank #3. The company is slated to release second-quarter 2022 financial numbers on Aug 8.

The Zacks Consensus Estimate for Helios Technologies’ second-quarter earnings has remained steady over the past 60 days. HLIO has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being approximately 29%.

MRC Global MRC has an Earnings ESP of +10.35% and a Zacks Rank #1. The company is set to release second-quarter 2022 results on Aug 8.

The Zacks Consensus Estimate for MRC Global’s second-quarter earnings has been revised upward by 31.8% in the past 60 days. MRC’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters while meeting estimates in one. The average surprise was 140.8%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Icahn Enterprises L.P. (IEP) : Free Stock Analysis Report
 
MRC Global Inc. (MRC) : Free Stock Analysis Report
 
Helios Technologies, Inc (HLIO) : Free Stock Analysis Report
 
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Zacks Investment Research