Commodity Earnings on Tap: The Stragglers

Earnings season is just about over, and the Street will soon have to turn its eyes to macro data to decide where markets go from here. Thus far, this batch of earnings has been a mixed bag; though a number of key companies beat estimates, lowered guidance took precedent. It seems that this time around, investors are very focused on how companies are guiding, especially given the Fed’s current taper process [for more commodity news and analysis subscribe to our free newsletter].

Though most of the blue chip firms have already released their earnings results, a few key stragglers are on deck for this week, as the commodity world still has a few companies it has yet to hear from:

  • Duke Energy (DUK): Tomorrow, at 7AM EST, Duke Energy will detail its most recent fiscal quarter for investors. Analysts are expecting to see EPS of $0.95 with revenues at $6.32 billion. It should be noted that Duke has come up short on its last three earnings reports, which does not bode well for tomorrow’s report.
  • Oil RefineryDevon Energy (DVN): One of the biggest names in the natural gas space, Devon Energy will report earnings just prior to Wednesday’s opening bell. Analysts will look for EPS of $1.10 with revenues at $2.69 billion. Devon has managed an impeccable earnings history this past year, hitting all four of its previous reports, and it’s expected to show sales growth for the coming year.
  • Newmont Mining (NEM): Thursday after the closing bell, Newmont Mining will unveil its earnings. Analysts have predicted EPS at $0.44 and revenues at $2.19 billion. The report will be especially crucial for the firm as it is among the worst performing stocks in 2013, losing 47%. Despite its poor stock performance, Newmont only missed one earnings estimate last year, which is a good sign going into Thursday’s report.
  • TransCanada (TRP): Also reporting Thursday, TransCanada will be especially in focus for its report, as it is one of the key firms involved with the Keystone XL Pipeline, which just had a nice breakthrough several weeks ago. The Street is looking to see EPS of $0.59 and revenues at $2.34 billion.

The Bottom Line

As we have warned investors in past weeks, it appears that this earnings season is especially focused on a firm’s guidance, as many investors are uneasy about the near future. The numbers will certainly be key to watch, but keep your eyes on the guidance each firm gives, as that will likely dictate how its share price reacts.

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Disclosure: No positions at time of writing.

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