Chesapeake Energy ( NASDAQ: CHK ) is scheduled to announce Q3 earnings results on Tuesday, November 1st, after market close.
The consensus EPS Estimate is $4.48 (+88.2% Y/Y) and the consensus Revenue Estimate is $2.05B
Over the last 2 years, CHK has beaten EPS estimates 63% of the time and has beaten revenue estimates 38% of the time.
Over the last 3 months, EPS estimates have seen 6 upward revisions and 3 downward. Revenue estimates have seen 0 upward revisions and 3 downward.
The company's stock rose +1.42% on Aug. 3 after its Q2 non-GAAP EPS beat analysts estimates.
Chesapeake was planning to exit the Eagle Ford shale as it continues to pivot away from oil to natural gas, CEO Nick Dell'Osso had told Bloomberg following the company's Q2 earnings report.
Chesapeake had chosen Evercore to help sell its oil-rich assets in Texas' Eagle Ford shale.
YTD, Chesapeake shares have gained ~60%, compared to a decline of ~19% for the broader market indicator SP500, see chart here .
Earlier in October, S&P Global Ratings raised its credit rating on the company by one notch to BB from BB- — still in "junk" territory — citing a "solid track record" since emerging from bankruptcy last year.
On Oct. 14, U.S. natural gas futures fell more than 4% to a near three-month low, as record production and reduced exports of liquefied natural gas allowed utilities to inject much larger than normal amounts of gas into storage for the winter in recent weeks.
In August, U.S. natural gas prices punched through $10/MMBtu for the first time since 2008, continuing to follow surging European prices as supply fears were heightened by Russia's plan to halt gas flows on the Nord Stream 1 pipeline to Germany for three days of maintenance.
For further details see:
Can Chesapeake maintain EPS beat run in Q3 as stock surges amid rising prices?