Major Commodity Earnings This Week: A Bit of Everything

As we make our way into the last quarter of the year, the eyes of investors and analysts turn to the performance of the most recent quarter. Q3 earnings season is upon us and has opened up with gloomy expectations, as many companies have already lowered guidance ahead of their reports. Below, we detail the most significant commodity firms that will release earnings this week [for more commodity news and analysis subscribe to our free newsletter]:

  • Halliburton (HAL): Starting things off before the opening bell today, Halliburton is expected to show EPS of $0.82 with revenues at $7.5 billion. Investors should note that the firm has met or surpassed all earnings for the past year and analysts are pegging the company to maintain solid growth for the coming year.
  • Southern Copper Company (SCCO): Also reporting today will be SCCO, one of the biggest names in the copper world. Analysts are pegging EPS at $0.41 with revenues hitting $1.45 billion. Investors will be particularly on edge as the firm missed its last earnings announcement and is also expected to show muted growth in the coming quarters.
  • Oil WellWhiting Petroleum Corp (WLL): After markets close Wednesday, Whiting will hold its quarterly earnings call. In that call, analysts are looking for the Denver-based company to report EPS of $1.02 and revenues just over $650 million. Whiting has hit its last three earnings marks and is projecting strong growth for the upcoming year.
  • Dow Chemical (DOW): The basic materials firm, which has its hands in a number of different sections of the commodity world, will be reporting earnings prior to Thursday’s opening bell. Analysts are looking to see EPS of $0.54 with revenues hitting the $14 billion mark. The company has hit three of its last four earnings estimates and is expected to forecast sales growth of 2.7% for Q4.
  • Weyerhaeuser Co (WY): Prior to Friday’s open, Weyerhaeuser will hold its earnings call. The bellwether timber firm is expected to haul in EPS of $0.22 with revenues just over the $2 billion mark. Not only has the firm smashed its last four earnings estimates, but it is also expected to forecast sales growth of more than 10% for the final quarter of the calendar year.

The Bottom Line

As always, an earnings report is a two-pronged release; the numbers are only half of the equation. Forecasts and guidance can sometimes be the most important part of a report. A firm can surpass expectations only to watch its stock plummet on weak guidance. Likewise, a sour report can be salvaged with a strong forecast for the future. Traders and investors need to look at both sides of each report in order to properly digest and react to the announcements.

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Disclosure: No positions at time of writing.

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