Plains Exploration & Production Earnings Preview: Can This Streak Finally End?

Plains Exploration & Production (NYSE:PXP) will report earnings before markets open on Thursday, May 2nd. Plains Exploration & Production Company is an independent oil and gas company with onshore and offshore operations in California, West Texas, East Texas and the Gulf Coast region. The Company is primarily involved in the upstream activities of acquiring, exploiting, developing, and producing oil and gas.

Here is your Cheat Sheet to Plains Exploration & Production Earnings:

Earnings Expectations: Analysts expect earnings of $0.83 per share on revenues of $1.15 billion. Currently, the company’s P/E ratio stands at 19.31.

Analyst Trends:

Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.87 to a profit $0.79. For the current year, the average estimate is a profit of $3.32, which is worse than the estimate ninety days ago.

Earnings Trends:

Here’s how Plains Exploration & Production has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 2,403 1,187 1,545 1,964 2,565
Diluted EPS ($) -6.52 1.09 0.73 1.44 2.32

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 ($) in millions 517.54 524.28 566.72 605.10 869.20
Diluted EPS ($) 0.6883 -0.64 1.70 -0.41 1.449

Past Performance:
Plains Exploration & Production 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]