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.
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.
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)