Sunoco (SUN) to Report Q1 Earnings: What's in the Cards?

Sunoco LP SUN is set to report first-quarter 2022 results on May 4, before the opening bell.

In the last reported quarter, the master limited partnership reported earnings of 95 cents per unit, missing the Zacks Consensus Estimate of $1.14. In the trailing four quarters, Sunoco beat the Zacks Consensus Estimate for the bottom line twice and missed twice, delivering an earnings surprise of 44.4%, on average. This is depicted in the graph below:

Sunoco LP Price and EPS Surprise

Sunoco LP Price and EPS Surprise

Sunoco LP price-eps-surprise | Sunoco LP Quote

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

Estimate Trend

The Zacks Consensus Estimate for its first-quarter earnings per unit of 89 cents has witnessed no upward and one downward movement in the past 30 days. This suggests a year-over-year decline of 44.4%.

The Zacks Consensus Estimate for its revenues for the March quarter is pegged at $4.9 billion, suggesting a year-over-year increase of 39.7%.

Factors to Consider

Thanks to economies reopening, demand for motor fuel is likely to have improved in the March quarter. Being the nation’s largest independent fuel distributor, Sunoco is likely to have benefited from the development.

The Zacks Consensus Estimate for Sunoco’s motor fuel sales in the first quarter is pegged at $4,812 million, suggesting an improvement from $3,363 million in the year-ago quarter.

Earnings Whispers

Our proven model does not indicate an earnings beat for Sunoco 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: Sunoco has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Sunoco currently carries a Zacks Rank #3.

Stocks That Warrant a Look

Here are some companies from the Energy space 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:

Callon Petroleum Company CPE has an Earnings ESP of +0.11% and currently carries a Zacks Rank of 3.

Callon is scheduled to report first-quarter results on May 4. The Zacks Consensus Estimate for CPE’s earnings is pegged at $3.28 per share, suggesting a massive increase from the prior-year reported figure. You can see the complete list of today’s Zacks #1 Rank stocks here.

EOG Resources EOG has an Earnings ESP of +0.89% and is a Zacks #1 Ranked player at present.

EOG Resources is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for EOG’s quarterly earnings is pegged at $3.69 per share, suggesting an increase of 127.8% from the prior-year figure.

Magellan Midstream Partners, L.P. MMP has an Earnings ESP of +0.95% and is a Zacks #3 Ranked player.

Magellan Midstream is scheduled to release first-quarter results on May 5. The Zacks Consensus Estimate for MMP’s earnings is pegged at $1.05 per unit.

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

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Magellan Midstream Partners, L.P. (MMP) : Free Stock Analysis Report

Sunoco LP (SUN) : Free Stock Analysis Report

EOG Resources, Inc. (EOG) : Free Stock Analysis Report

Callon Petroleum Company (CPE) : Free Stock Analysis Report

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