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Diversified Energy (DEC) to Post 1H24 Earnings: What's in the Cards?
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Diversified Energy Company Plc (DEC - Free Report) is slated to report the first half of 2024 interim results on Aug 15, before market open.
Let’s discuss the factors that are expected to influence the upcoming results.
Factors to Note
Solid volume of wells plugged during the first half of 2024 is likely to have bolstered DEC’s top-line performance.
Increased average daily production volume, particularly of natural gas, must have also added an impetus to the company’s revenues, which should be duly reflected in the upcoming results.
Diversified Energy Company PLC Price and EPS Surprise
Moreover, the company’s disciplined and consistent hedge program can be expected to have improved its operating margin and, thereby, bottom-line performance in the first half of 2024, outweighing the challenging commodity price environment it has been facing lately.
Further, with DEC’s field teams continuing to utilize its smarter asset management program to deliver cost savings and efficient operations, the company is expected to have witnessed improved cash margins.
In June 2024, the company completed the acquisition of a proportionate working interest in certain assets from Oaktree Capital Management. Positive synergies from this buyout may contribute favorably to Diversified Energy’s operating results.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Diversified Energy Company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: DEC’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2024 adjusted earnings of 43 cents per share, highlighting a 70.7% decline from $1.47 reported in the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of 49 cents by 12.2%.
Enphase Energy’s second-quarter revenues of $303.5 million missed the Zacks Consensus Estimate of $314 million by 1.8%. The top line also declined 57.3% from the prior-year quarter’s reported figure of $711.1 million.
Plains All American Pipeline, L.P. (PAA - Free Report) reported second-quarter 2024 adjusted earnings of 31 cents per unit, which missed the Zacks Consensus Estimate of 33 cents by 6.1%. However, the bottom line improved 24% from 25 cents in the year-ago quarter.
Net sales of $12.93 billion beat the Zacks Consensus Estimate of $12.91 billion by 0.2%. The top line also increased 11.5% from the year-ago quarter’s figure of $11.6 billion.
NextEra Energy Partners, LP (NEP - Free Report) recorded second-quarter 2024 operating earnings of 66 cents per unit, which missed the Zacks Consensus Estimate of 70 cents by 5.7%.
The Zacks Consensus Estimate for 2024 earnings is pegged at $1.81 per share, which implies a year-over-year increase of 432.4%. The Zacks Consensus Estimate for sales is pegged at $1.25 billion.
Diversified Energy Company Plc (DEC - Free Report) is slated to report the first half of 2024 interim results on Aug 15, before market open.
Let’s discuss the factors that are expected to influence the upcoming results.
Factors to Note
Solid volume of wells plugged during the first half of 2024 is likely to have bolstered DEC’s top-line performance.
Increased average daily production volume, particularly of natural gas, must have also added an impetus to the company’s revenues, which should be duly reflected in the upcoming results.
Diversified Energy Company PLC Price and EPS Surprise
Diversified Energy Company PLC price-eps-surprise | Diversified Energy Company PLC Quote
Moreover, the company’s disciplined and consistent hedge program can be expected to have improved its operating margin and, thereby, bottom-line performance in the first half of 2024, outweighing the challenging commodity price environment it has been facing lately.
Further, with DEC’s field teams continuing to utilize its smarter asset management program to deliver cost savings and efficient operations, the company is expected to have witnessed improved cash margins.
In June 2024, the company completed the acquisition of a proportionate working interest in certain assets from Oaktree Capital Management. Positive synergies from this buyout may contribute favorably to Diversified Energy’s operating results.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Diversified Energy Company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: DEC’s Earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Diversified Energy currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Sector Releases
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2024 adjusted earnings of 43 cents per share, highlighting a 70.7% decline from $1.47 reported in the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of 49 cents by 12.2%.
Enphase Energy’s second-quarter revenues of $303.5 million missed the Zacks Consensus Estimate of $314 million by 1.8%. The top line also declined 57.3% from the prior-year quarter’s reported figure of $711.1 million.
Plains All American Pipeline, L.P. (PAA - Free Report) reported second-quarter 2024 adjusted earnings of 31 cents per unit, which missed the Zacks Consensus Estimate of 33 cents by 6.1%. However, the bottom line improved 24% from 25 cents in the year-ago quarter.
Net sales of $12.93 billion beat the Zacks Consensus Estimate of $12.91 billion by 0.2%. The top line also increased 11.5% from the year-ago quarter’s figure of $11.6 billion.
NextEra Energy Partners, LP (NEP - Free Report) recorded second-quarter 2024 operating earnings of 66 cents per unit, which missed the Zacks Consensus Estimate of 70 cents by 5.7%.
The Zacks Consensus Estimate for 2024 earnings is pegged at $1.81 per share, which implies a year-over-year increase of 432.4%. The Zacks Consensus Estimate for sales is pegged at $1.25 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.