Natural gas producer Gulfport Energy (NYSE: GPOR) will be reporting earnings this Monday after market hours. Here’s what investors should know.
Gulfport Energy beat analysts’ revenue expectations last quarter, reporting revenues of $437.5 million, up 122% year on year. It was a mixed quarter for the company, with a significant miss of analysts’ EPS estimates. It reported a year-on-year oil production decline of 29.2%.
Is Gulfport 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 Gulfport Energy’s revenue to decline 32.3% year on year, a reversal from the 147% 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. Gulfport Energy has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Gulfport Energy’s peers in the upstream & integrated segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Weatherford’s revenues decreased 8.2% year on year, beating analysts’ expectations by 3.4%, and Peabody Energy reported revenues up 12.7%, in line with consensus estimates. Weatherford traded up 4.5% following the results while Peabody Energy was down 7.9%.
Read our full analysis of Weatherford’s results here and Peabody Energy’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 7% on average over the last month. Gulfport Energy is down 3.6% during the same time and is heading into earnings with an average analyst price target of $231.08 (compared to the current share price of $161.37).
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