As earnings season kicks into full gear, all eyes turn to the reports of some of the world’s most powerful commodity firms to comment on the asset class as a whole. This week sees the heat turned up on the energy space, as some of the biggest players in the world of oil are on deck, as well as a few other companies sprinkled in throughout the week [for more commodity news and analysis subscribe to our free newsletter]:
- Caterpillar (CAT): Kicking the week off before the bell today will be caterpillar, as its earnings are usually a good gauge on the health of the agricultural world. Analysts are looking for EPS of $1.28 with revenues coming in at $13.64 billion.
- United States Steel Corp (X): After markets close today, US Steel will announce its results to the Street. Analysts expect to see EPS of $-0.26 and revenues at $4.34 billion. US Steel is somewhat unpredictable with its earnings, as its past four reports have seen the company beat estimates by large margins three times, as well as turning in one crushing miss.
- Phillips 66 (PSX): At 8AM EST on Wednesday, Phillips 66 will be expected to post EPS of $1.06 and revenues of $41.04 billion. The firm has missed its last two earnings reports and will hope to reverse that trend this week.
- Marathon Petroleum Corporation (MPC): Prior to Wednesday’s open, Marathon Petroleum (separate from Marathon Oil) will detail its most recent quarter. In that report, the Street is looking for EPS of $1.13 and revenues of $20.15 billion.
- Valero Energy (VLO): Wednesday’s pre-market trading will be buzzing, as Valero will also release earnings before the opening bell. Analysts will be looking for EPS of $0.86 and revenues of $28.15 billion.
- ConocoPhillips (COP): Kicking off a busy Thursday will be ConocoPhillips and its pre-market earnings release. Analysts have pegged EPS at $1.37 and revenues at $14.62 billion.
- Occidental Petroleum (OXY): Following in COP’s footsteps, Occidental will also release earnings before markets open on Thursday. For this report, the Street is expecting EPS at $1.74 and revenues at $5.84 billion.
- Royal Gold (RGLD): Amid all of the major oil firms reporting, this gold miner will throw its hat into the ring as it looks to shake off a punishing 2013. When Royal Gold reports before Thursday’s open, analysts will be looking for EPs of $0.24 and revenues of $65.65 million.
- Exxon Mobil (XOM): The largest oil firm in the world (and previously the largest firm by market cap), Exxon will be reporting during market hours on Thursday. The Street expects to see EPS at $1.93 and revenues at a handsome $112.88 billion.
- Newmont Mining (NEM): Closing out a busy day, Newmont is slated to release earnings just after Thursday’s closing bell. Though the stock took a big hit last year, it still beat its last two earnings estimates. Analysts are eyeing EPS of $0.40 and revenues just over $2 billion.
The Bottom Line
As with every earnings report, we remind investors that every release is a two-pronged event: the numbers and the guidance. Strong numbers can over-rule bad guidance and vice versa (though bad guidance is more often than not a kiss of death for the stock’s intraday performance). Be sure to pay attention to both aspects of each report to properly analyze and react.
Disclosure: Long XOM.