In its upcoming report, Imperial Oil (IMO) is predicted by Wall Street analysts to post quarterly earnings of $1.22 per share, reflecting a decline of 20.8% compared to the same period last year. Revenues are forecasted to be $10.54 billion, representing a year-over-year increase of 7.8%.
The consensus EPS estimate for the quarter has been revised 1.4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Imperial Oil metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Gross Oil - Equivalent Production' reaching 416 thousands of barrels of oil. The estimate compares to the year-ago value of 404 thousands of barrels of oil.
Analysts forecast 'Gross Natural Gas Production' to reach $29.59 thousands of cubic feet. Compared to the current estimate, the company reported $30.00 thousands of cubic feet in the same quarter of the previous year.
The consensus among analysts is that 'Gross Total crude oil production' will reach 410 thousands of barrels of oil. Compared to the current estimate, the company reported 399 thousands of barrels of oil in the same quarter of the previous year.
It is projected by analysts that the 'Gross Crude Oil and NGL Production per day - Conventional' will reach 5 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 5 thousands of barrels of oil.
According to the collective judgment of analysts, 'Net Crude Oil and NGL Production per day - Kearl' should come in at 173 thousands of barrels of oil. Compared to the current estimate, the company reported 167 thousands of barrels of oil in the same quarter of the previous year.
Analysts expect 'Net Crude Oil and NGL Production per day - Cold Lake' to come in at 109 thousands of barrels of oil. Compared to the present estimate, the company reported 109 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Net Crude Oil and NGL Production per day - Conventional' will likely reach 4 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 5 thousands of barrels of oil.
The average prediction of analysts places 'Gross Crude Oil and NGL Production per day - Syncrude' at 79 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 66 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Gross Crude Oil and NGL Production per day - Cold Lake' should arrive at 145 thousands of barrels of oil. Compared to the current estimate, the company reported 147 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Total Refinery throughput' of 393 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 387 thousands of barrels of oil.
Analysts predict that the 'Gross Crude Oil and NGL Production per day - Kearl' will reach 181 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 181 thousands of barrels of oil.
The consensus estimate for 'Net Petroleum Products Sales' stands at 458 thousands of barrels of oil. Compared to the current estimate, the company reported 470 thousands of barrels of oil in the same quarter of the previous year.
View all Key Company Metrics for Imperial Oil here>>>
Over the past month, shares of Imperial Oil have returned +4.1% versus the Zacks S&P 500 composite's +2.7% change. Currently, IMO carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Imperial Oil Limited (IMO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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