S&P 500 (NYSE:SPY) component Spectra Energy Corp (NYSE:SE) will unveil its latest earnings on Wednesday, August 3, 2011. Spectra Energy Corp. through its subsidiaries and equity affiliates, owns and operates natural gas-related energy assets.
Spectra Energy Corp Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 41 cents per share, a rise of 51.9% 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 36 cents. Between one and three months ago, the average estimate moved up, and has risen from 38 cents during the last month. For the year, analysts are projecting net income of $1.76 per share, a rise of 12.1% from last year.
Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of 54 cents per share against a mean estimate of net income of 51 cents, and the quarter before, the company exceeded forecasts by 7 cents with profit of 47 cents versus a mean estimate of net income of 40 cents.
Wall St. Revenue Expectations: On average, analysts predict $1.22 billion in revenue this quarter, a rise of 15.1% from the year ago quarter. Analysts are forecasting total revenue of $5.44 billion for the year, a rise of 10.1% from last year’s revenue of $4.94 billion.
Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, none rating it as a sell and five rating it as a hold.
The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 0.3% in the first quarter from the year earlier, while the figure rose 46.1% in the fourth quarter of the last fiscal year, 3.1% in the third quarter of the last fiscal year and 24.3% in the second quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 8.9% to $1.61 billion in first quarter. The figure rose 6.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 9.2% in the third quarter of the last fiscal year from the year-ago quarter and 13.4% in the second quarter of the last fiscal year.
Competitors to Watch: Southern Union Company (NYSE:SUG), El Paso Corporation (NYSE:EP), Spectra Energy Partners, LP (NYSE:SEP), Sempra Energy (NYSE:SRE), Enterprise Products Partners L.P. (NYSE:EPD), Duncan Energy Partners L.P. (NYSE:DEP), Kinder Morgan Energy Partners LP (NYSE:KMP), DCP Midstream Partners, LP (NYSE:DPM), Copano Energy, L.L.C. (NASDAQ:CPNO), and TC Pipelines, LP (NASDAQ:TCLP).
Stock Price Performance: During May 3, 2011 to July 28, 2011, the stock price had fallen 71 cents (-2.6%) from $27.78 to $27.07. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 29, 2011 when shares rose for nine-straight days, rising 7.5% (+$2.01) over that span. It saw one of its worst periods between July 21, 2011 and July 28, 2011 when shares fell for six-straight days, falling 2.2% (-61 cents) over that span. Shares are up $2.55 (+10.4%) year to date.
(Source: Xignite Financials)