Concho Resources Earnings Preview: Can This Streak Finally End?

Concho Resources (NYSE:CXO) will report earnings after markets close on Wednesday, May 1st. Concho Resources Inc. acquires, develops and explores for oil and natural gas properties in the Permian Basin area of Southeast New Mexico and West Texas.

Here is your Cheat Sheet to Concho Resources Earnings:

Earnings Expectations: Analysts expect earnings of $0.84 per share on revenues of $508.29 million. Currently, the company’s P/E ratio stands at 20.87.

Analyst Trends:

Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.03 to a profit $1.09. For the current year, the average estimate is a profit of $4.4, which is better than the estimate ninety days ago.

Earnings Trends:

Here’s how Concho Resources has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 533.79 519.60 851.44 1,618 1,820
Diluted EPS ($) 3.46 -0.12 2.18 5.28 4.15

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 356.23 507.80 432.80 497.55 381.67
Diluted EPS ($) -0.8059 0.30 3.07 0.06 0.7226

Past Performance:
Concho Resources has missed analyst estimates 4 times in the past four quarters. Shareholders could expect a bust if the company misses estimates.

“E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our successful CHEAT SHEET investing framework. Don’t waste another minute – click here to discover our CHEAT SHEET stock picks now!

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]