El Paso Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component El Paso Corp (NYSE:EP) will unveil its latest earnings on Thursday, August 4, 2011. El Paso Corp. is an energy company, provides natural gas and related energy products.

El Paso Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 24 cents per share, a rise of 9.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 22 cents. For the year, analysts are projecting profit of $1.10 per share, a rise of 12.2% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 30 cents per share against a mean estimate of profit of 28 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.19 billion in revenue this quarter, a rise of 16.7% from the year ago quarter. Analysts are forecasting total revenue of $4.9 billion for the year, a rise of 6.1% from last year’s revenue of $4.62 billion.

Analyst Ratings: Analysts are bullish on this stock with 11 analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

Key Stats:

The company has now seen net income fall in each of the last two quarters. In the first quarter, net income fell 84% from the year earlier quarter, while the figure dropped 74.1% in the fourth quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 29.4% to $989 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 17.5%.

Competitors to Watch: Kinder Morgan Inc (NYSE:KMI), El Paso Pipeline Partners, L.P. (NYSE:EPB), Kinder Morgan Energy Partners LP (NYSE:KMP), Southern Union Company (NYSE:SUG), Enterprise Products Partners L.P. (NYSE:EPD), Enterprise GP Hldgs. L.P. (EPE), Spectra Energy Partners, LP (NYSE:SEP), Blue Dolphin Energy Co. (NASDAQ:BDCO), Copano Energy, L.L.C. (NASDAQ:CPNO), and Atlas Pipeline Partners, L.P. (NYSE:APL).

Stock Price Performance: During May 4, 2011 to July 29, 2011, the stock price had risen $2.26 (12.4%) from $18.29 to $20.55. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 5.2% (+$1.02) over that span. It saw one of its worst periods between May 31, 2011 and June 6, 2011 when shares fell for five-straight days, falling 5.6% (-$1.17) over that span. Shares are up $6.80 (+49.5%) year to date.

(Source: Xignite Financials)

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