Liquified natural gas infrastructure provider Excelerate Energy (NYSE: EE) will be reporting results this Wednesday after the bell. Here’s what investors should know.
Excelerate Energy beat analysts’ revenue expectations last quarter, reporting revenues of $329.3 million, up 61% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is Excelerate Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Excelerate Energy’s revenue to decline 5.1% year on year, a reversal from the 102% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Excelerate Energy rarely misses Wall Street’s revenue estimates.
Looking at Excelerate Energy’s peers in the upstream & integrated segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Expand Energy delivered year-on-year revenue growth of 11.6%, beating analysts’ expectations by 54.4%, and Kinder Morgan reported revenues up 9.3%, topping estimates by 20.4%. Expand Energy traded down 3.2% following the results while Kinder Morgan’s stock price was unchanged.
Read our full analysis of Expand Energy’s results here and Kinder Morgan’s results here.
Investors in the upstream & integrated segment have had steady hands going into earnings, with share prices flat over the last month. Excelerate Energy is up 1.9% during the same time and is heading into earnings with an average analyst price target of $43.54 (compared to the current share price of $34.80).
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