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What's in Store for Vermilion Energy (VET) in Q3 Earnings?

Zacks Equity Research
·4-min read

Vermilion Energy Inc. VET is set to report third-quarter 2022 results on Nov 9, after the closing bell.

In the last reported quarter, the upstream energy company’s earnings of $1.68 per share beat the Zacks Consensus Estimate of 94 cents.

Vermilion Energy beat the Zacks Consensus Estimate for earnings in the trailing four quarters, delivering a surprise of 79.1%, on average. This is depicted in the graph below:

Vermilion Energy Inc. Price and EPS Surprise

 

Vermilion Energy Inc. Price and EPS Surprise
Vermilion Energy Inc. Price and EPS Surprise

Vermilion Energy Inc. price-eps-surprise | Vermilion Energy Inc. Quote

Let’s see how things have shaped up prior to the announcement.

Estimate Trend

The Zacks Consensus Estimate for Vermilion Energy’s third-quarter earnings per share of $1.63 has witnessed no upward revision and one downward movement in the past 30 days. The estimate figure suggests a 191% improvement from 56 cents reported in the year-ago quarter.

Factors to Consider

In the September-end quarter, crude oil and natural gas prices increased significantly from the prior-year quarter. Strong commodity prices are expected to have been favorable for Vermilion Energy’s exploration and production activities in the third quarter, as it is a leading upstream energy player with a strong footprint in the prolific resources of North America, Europe and Australia.

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The Zacks Consensus Estimate for Vermilion Energy’s total production is pegged at 86,278 barrels of oil equivalent per day (Boe/d), suggesting an increase from 84,633 Boe/d reported in the year-ago quarter.

While a healthier commodity price scenario and increased production are likely to have boosted the company’s profit levels in the to-be-reported quarter, an escalation in costs is anticipated to have played a spoilsport.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for Vermilion 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. As you can see, that is not the case here.

Earnings ESP: Vermilion Energy has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is currently pegged at earnings of $1.63 per share, in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Vermilion Energy currently carries a Zacks Rank #4 (Sell).

Stocks That Warrant a Look

Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:

Calumet Specialty Products Partners, L.P. CLMT is likely to come up with an earnings beat when it reports third-quarter results on Nov 9. You can see the complete list of today’s Zacks #1 Rank stocks here.

CLMT has an Earnings ESP of +40.15% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for CLMT’s 2022 EPU implies a year-over-year increase of 73.4%.

Helmerich & Payne, Inc. HP is likely to come up with an earnings beat when it reports fourth-quarter fiscal 2022 results on Nov 17.

HP has an Earnings ESP of +14.32% and sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for HP’s fourth-quarter fiscal 2022 EPS implies a year-over-year increase of 169.4%.

New Fortress Energy Inc. NFE is slated to release third-quarter 2022 financial results on Nov 8.

NFE has an Earnings ESP of +14.14% and sports a Zacks Rank #1 at present. The Zacks Consensus Estimate for NFE’s 2022 EPS implies a significant increase from the prior-year quarter’s 5 cents.

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


Want 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
 
Helmerich & Payne, Inc. (HP) : Free Stock Analysis Report
 
Calumet Specialty Products Partners, L.P. (CLMT) : Free Stock Analysis Report
 
Vermilion Energy Inc. (VET) : Free Stock Analysis Report
 
New Fortress Energy LLC (NFE) : Free Stock Analysis Report
 
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Zacks Investment Research