TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,700 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses. It also has regulated natural gas storage facilities with a total working gas capacity of 532 billion cubic feet. In addition, it has approximately 4,900 kilometers of liquids pipeline system that connects Alberta crude oil pipeline to refining markets in Illinois, Oklahoma, and Texas. Further, the company owns or has interests in seven power generation facilities with a combined capacity of approximately 4,300 megawatts that are powered by natural gas and nuclear fuel sources located in Alberta, Ontario, Québec, and New Brunswick; and owns and operates approximately 118 billion cubic feet of non-regulated natural gas storage capacity in Alberta. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

TC Energy Corporation

Looking at the universe of stocks we cover at Dividend Channel, on 12/31/25, Amdocs Ltd. (Symbol: DOX), FMC Corp. (Symbol: FMC), and TC Energy Corp (Symbol: TRP) will all trade ex-dividend for their respective upcoming dividends. Amdocs Ltd. will pay its quarterly dividend of $0.527 on 1/30/26, FMC Corp. will pay its quarterly dividend of $0.08 on 1/15/26, and TC Energy Corp will pay its quarterly dividend of $0.85 on 1/30/26. As a percentage of DOX's recent stock price of $81.73, this dividend works out to approximately 0.64%, so look for shares of Amdocs Ltd. to trade 0.64% lower — all else being equal — when DOX shares open for trading on 12/31/25. Similarly, investors should look for FMC to open 0.59% lower in price and for TRP to open 1.52% lower, all else being equal.
Below are dividend history charts for DOX, FMC, and TRP, showing historical dividends prior to the most recent ones declared.
Amdocs Ltd. (Symbol: DOX):
FMC Corp. (Symbol: FMC):
TC Energy Corp (Symbol: TRP):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.58% for Amdocs Ltd., 2.36% for FMC Corp., and 6.09% for TC Energy Corp.
In Monday trading, Amdocs Ltd. shares are currently up about 0.5%, FMC Corp. shares are up about 1.7%, and TC Energy Corp shares are up about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: Amdocs, FMC and TC Energy

Energy Transfer LP ET announced plans to expand the Transwestern Pipeline as part of its Desert Southwest expansion project. The company will increase the pipeline diameter to 48 inches from 42 inches, boosting the project’s capacity to up to 2.3 billion cubic feet (Bcf) of natural gas per day.
With this project, the company will efficiently transfer natural gas from its premier asset base in the prolific Permian Basin.
The increase in pipeline diameter is primarily aimed at meeting rising energy demand in Arizona and New Mexico. Natural gas demand in these regions is growing due to population expansion, data center development, and increased utility requirements. In addition, the potential conversion of power plants from coal to natural gas could further boost regional gas demand.
The upsized project is expected to cost nearly $5.6 billion, excluding the allowance for funds used during construction. As a result, Energy Transfer’s total growth capital expenditures for 2026 are expected to rise approximately $200 million.
How Will This Benefit ET?
The additional capital investment provides upside potential for the project and an effective way to tap into expanding sources of demand.
Energy Transfer’s pipeline expansion strategy focuses on securing long-term shipping contracts before construction, which locks in predictable future cash flows and reduces risk. Because pipeline fees are based on contracted capacity and volumes transported, expanded capacity directly translates into higher, largely fee-based revenue.
ET is reinforcing its position as a dependable natural gas infrastructure provider in key markets by pausing the capital-intensive Lake Charles LNG export project and reallocating capital toward pipeline expansions with superior risk-adjusted returns.
Other Companies’ Focus on Pipeline Expansion
Pipeline expansions primarily help companies meet rising energy demand and, in turn, drive top-line growth. Along with ET, other oil and gas companies involved in pipeline expansion are mentioned below.
TC Energy Corporation TRP has approved a $900 million natural gas pipeline project in Midwest U.S. The Northwoods pipeline expansion will add 400,000 million British thermal units of new capacity, equivalent to approximately 117,228 megawatt-hours (MWh), and increase the system’s storage capacity by 0.4 billion cubic feet per day. The project is expected to become operational by late 2029.
The Zacks Consensus Estimate for 2026 earnings per share (EPS) indicates year-over-year growth of 7.5%. TRP delivered an average earnings surprise of 2.5% in the last four quarters.
Kinder Morgan, Inc. KMI is currently constructing the fully contracted $455 million Gulf Coast Express Expansion Project, which is designed to increase natural gas deliveries from the Permian Basin to South Texas markets by 570 million cubic feet per day (MMcf/d). The company’s share of the project investment is approximately $161 million, and the expansion is expected to be completed and placed into service by mid-2026.
The Zacks Consensus Estimate for 2026 EPS indicates year-over-year growth of 6.12%. The Zacks Consensus Estimate for 2026 sales implies a year-over-year improvement of 4.4%.
The Williams Companies, Inc. WMB has commissioned two major expansions of its Transco natural gas pipeline system. The Texas–Louisiana Energy Pathway adds 364 MMcf/d of capacity to support Gulf Coast demand and LNG exports, while the Southeast Energy Connector adds 150 MMcf/d to help Alabama transition from coal to cleaner natural gas. These projects are part of Williams’ broader expansion efforts, which also include upgrades to other pipeline systems and future transmission capacity additions.
The Zacks Consensus Estimate for 2026 EPS indicates year-over-year growth of 10%. It delivered an average earnings surprise of 0.87% in the last four quarters.
Price Movement of ET
Over the past year, ET’s shares have lost 16.9%, more than the industry’s decline of 12.3%.
Zacks Rank
ET currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
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Energy Transfer to Expand Transwestern Pipelines for Southwest Growth

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Global X MLP & Energy Infrastructure ETF (Symbol: MLPX) where we have detected an approximate $59.2 million dollar inflow -- that's a 2.3% increase week over week in outstanding units (from 42,587,506 to 43,547,506). Among the largest underlying components of MLPX, in trading today Enbridge Inc (Symbol: ENB) is up about 0.1%, TC Energy Corp (Symbol: TRP) is down about 0.5%, and Kinder Morgan Inc. (Symbol: KMI) is lower by about 0.4%. For a complete list of holdings, visit the MLPX Holdings page » The chart below shows the one year price performance of MLPX, versus its 200 day moving average:
Looking at the chart above, MLPX's low point in its 52 week range is $53.54 per share, with $67.47 as the 52 week high point — that compares with a last trade of $61.73. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Inflow Detected - MLPX, ENB, TRP, KMI

Monday, November 17, 2025
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Oracle Corp. (ORCL), Costco Wholesale Corp. (COST) and Cisco Systems, Inc. (CSCO), as well as two micro-cap stocks Universal Health Realty Income Trust (UHT) and New England Realty Associates Limited Partnership (NEN). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Econ Data Comes Out This Week, Along with NVDA, WMT Earnings
Today's Featured Research Reports
Oracle’s shares have outperformed the Zacks Computer - Software industry over the year-to-date period (+35.1% vs. +14.5%). The company is benefiting from continued momentum from its Oracle Cloud Infrastructure business, including from winning cloud-computing contracts from AI-focused startups. ORCL’s continued investment in cloud infrastructure, comprising NetSuite Enterprise Resource Planning (ERP) and Fusion ERP, positions it well for sustained growth in the dynamic software industry.
Oracle’s partnership with Amazon for Oracle Database@AWS and general availability of Oracle Database@Google bodes well. Oracle’s Gen 2 Cloud is driving artificial intelligence clientele. The company's share buybacks and dividend policy are noteworthy. The Zacks analyst expects’ fiscal 2026 net sales to grow 15.8% from fiscal 2025.
However, higher spending on product enhancements, toward the cloud platform amid increasing competition in the cloud domain is likely to limit margin expansion.
(You can read the full research report on Oracle here >>>)
Shares of Costco have gained +1.3% over the year-to-date period against the Zacks Retail - Discount Stores industry’s gain of +5.3%. The company being a consumer defensive stock, has survived the market turmoil pretty well, supported by its resilient membership-based model, disciplined pricing, and operational excellence.
Costco’s consistent renewal rates and expanding member base reinforce its dependable recurring revenue stream, while the Kirkland Signature brand continues to drive margin strength. Robust e-commerce momentum and growing adoption of digital fulfillment services enhance Costco’s omnichannel reach, driving traffic.
Strategic sourcing, diversification, and supply chain efficiency have helped mitigate tariff and cost pressures. Backed by a solid liquidity position, Costco remains well-positioned to capitalize on global growth opportunities. The Zacks analyst expect’s Costco to register a 10.9% adjusted earnings per share increase in fiscal 2026 on 7.7% revenue growth
(You can read the full research report on Costco here >>>)
Cisco’ shares have outperformed the Zacks Computer - Networking industry over the year-to-date period (+35.2% vs. +34.5%). The company’s business model has evolved with subscription revenues accounting for more than half of its total revenues. An increase in recurring revenue base bodes well for investors. Splunk's acquisition enhances the company’s recurring revenue base.
The buyout significantly expands Cisco’s portfolio of software-based solutions, contributing more than $4 billion in ARR and making it one of the largest software companies in the world. The launch of AI-powered Hypershield, which combines security and networking, strengthened Cisco’s security portfolio.
Networking sales benefited from strong demand for AI infrastructure and campus networking solutions. Product orders from service provider and cloud customers were strong, driven by high double-digit order growth in hyperscalers. However, stiffening competition is a headwind.
(You can read the full research report on Cisco here >>>)
Shares of Universal Health Realty have outperformed the Zacks REIT and Equity Trust - Other industry over the year-to-date period (+12.3% vs. +7.7%). This microcap company with a market capitalization of $548.38 million offers stable, inflation-linked rental income supported by long-term leases and high occupancy, while its dividend remains well covered by recurring Funds From Operations (FFO).
UHS-backed leases with built-in escalators and guarantees enhance cash-flow visibility, while conservative leverage, ample liquidity and active interest-rate hedging reinforce financial resilience. Strategic healthcare assets and new MOBs development support long-term demand. Key risks include heavy UHS tenant concentration, reduced swap effectiveness, elevated leverage limiting flexibility and constrained capital-markets access.
The valuation suggests investors are paying a moderate premium for stability and income durability, while still receiving a discount to higher-growth healthcare real estate investment trust (REIT) peers.
(You can read the full research report on Universal Health Realty Income here >>>)
Shares of New England Realty have underperformed the Zacks Real Estate - Operations industry over the year-to-date period (-10.5% vs. +14.3%). This microcap company with a market capitalization of $197.14 million has rising leverage ($511.2 million), net income compression and softening new lease rates. A liquidity covenant breach and floating-rate debt add refinancing risk. Despite near-term pressures, shares trade at just 0.7x P/E vs. sector 17.8x, offering compelling upside.
Nevertheless, NERA is capitalizing on favorable urbanization and housing supply-demand imbalances in Eastern Massachusetts and Southern New Hampshire, expanding assets by 25% YTD. The Hill Estates acquisition and Mill Street development align with strong demographic and affordability trends. Rental income rose 9.1% to $65 million, supported by resilient renewal pricing (+5.7%) and high occupancy.
Long-term demand fundamentals, including Boston’s robust job market and limited new housing starts, enhance rental pricing power and asset appreciation. Strategic use of Chapter 40B programs provides financing advantages.
(You can read the full research report on New England Realty here >>>)
Other noteworthy reports we are featuring today include Medtronic plc (MDT), Corning Inc. (GLW) and TC Energy Corp. (TRP).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
Medtronic (MDT) Gains in Market Share, Global Growth Robust
The Zacks analyst is impressed with Medtronic's market share gains across core businesses. The company posted strong international revenue growth in fiscal Q1, reflecting broad-based global growth.
TC Energy (TRP) to Gain from North American Natural Gas Demand
The Zacks analyst believes TC Energy is uniquely positioned to capitalize on the growing North American natural gas demand, driven by LNG exports and the electricity needs of AI data centers.
Sun Life (SLF) Gains on Solid Asia Business Amid High Costs
Per the Zacks analyst, Sun Life is set for grow on solid Asia business that are expected to provide higher return and expanding global asset management business. However, high costs remain a concern.
Renewable Energy Focus and Investments Aid CMS Energy (CMS)
According to the Zacks analyst, CMS Energy plans capital expenditure of $20 billion during 2025-2029 period, which should further strengthen its operations and expand its renewable portfolio.
Molson Coors (TAP) Benefits From Premiumization andInnovation
Per the Zacks analyst, Molson Coors boasts a strong portfolio of well-established brands. The company remains committed to growing its market share through innovation and premiumization.
Improved Menu Pricing Aid Brinker's (EAT) Performance, Amid High Costs
Per the Zacks analyst, Brinker is benefiting from improved menu pricing and expansion efforts. However, rising restaurant labor and commodity costs are a concern.
Acquisitions, Strong Cash Flows Drive Select Medical (SEM)
Per the Zacks Analyst, numerous buyouts have resulted in a geographically diversified portfolio and strengthened U.S. footprint for the company. Also, strong cash flows enable business investments.
New Upgrades
Corning (GLW) Rides on Strength in Multiple Verticals, AI Focus
Per the Zacks analyst, growing adoption of innovative optical connectivity products for generative AI applications and healthy demand for advanced Gorilla glass will likely drive Corning's top line.
Reddit (RDDT) Rides on Growing User Engagement, AI Features
Per the Zacks analyst, Reddit is benefiting from strong growth in user engagement driven by AI-powered features, including Reddit Answers.
Focus on Alternatives, Solid Liquidity Aid Affiliated Managers (AMG)
Per the Zacks analyst, Affiliated Managers is well-placed for growth, driven by focus on the alternatives strategies, successful partnerships, global distribution capability and a solid balance sheet.
New Downgrades
Corcept's (CORT) Korlym Dependence for Sales Raises Concerns
Per the Zacks analyst, Corcept's sole reliance on its Cushing's syndrome drug, Korlym, for revenue is concerning. Recent pipeline setbacks weigh heavily on the stock.
Alaska Air (ALK) to Face Pressure From High Costs and Operational Risks
Per the Zacks analyst, Alaska Air is likely to encounter margin strain from soaring labor costs, debt obligations, safety concerns, and operational challenges.
Weak Residential Business Performance Hurt Generac (GNRC)
Per the Zacks analyst, Generac's Residential business segment was hurt by a lower power outage environment. Residential product sales are expected to decline by mid-single-digit percentage in 2025.
Radical New Technology Could Hand Investors Huge Gains
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Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report
Medtronic PLC (MDT) : Free Stock Analysis Report
Oracle Corporation (ORCL) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Analyst Reports for Oracle, Costco & Cisco

TC Energy Corporation TRP reported third-quarter 2025 adjusted earnings of 56 cents per share, which came in line with the Zacks Consensus Estimate.This performance was driven by robust results from the company’s Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines and Mexico Natural Gas Pipelines segments. However, the bottom line decreased from 76 cents reported in the year-ago period. This year-over-year underperformance can be attributed to weak results in the Power and Energy Solutions segment.
This North America’s energy infrastructure provider's quarterly revenues of $3.7 billion outpaced the Zacks Consensus Estimate by $49 million. However, the figure decreased 10.1% year over year.
TC Energy’s comparable EBITDA was C$2.7 billion, down from C$2.8 billion in the prior year. Moreover, the figure missed our estimate of C$2.8 billion.
TRP’s board of directors declared a quarterly dividend of 85 Canadian cents per common share for the quarter ending Dec. 31, 2025, translating to an annualized dividend rate of $3.40.
TC Energy Corporation Price, Consensus and EPS Surprise
TRP’s Segmental Information
Canadian Natural Gas Pipelines reported a comparable EBITDA of C$913 million, up 8% from the year-ago quarter’s level. This was driven by increased contributions from Coastal GasLink. However, the figure missed our estimate of C$979 million.
The company reported continued growth across the Canadian Natural Gas Pipelines, with deliveries on its Natural Gas Pipelines averaging 23.0 Bcf/d, up 2% from the third quarter of 2024. It also noted that NGTL system receipts averaged 14.0 Bcf/d, reflecting a 1% year-over-year increase.
U.S. Natural Gas Pipelines reported a comparable EBITDA of C$1,062 million, indicating a 6% increase from the prior-year quarter’s actual. The rise in U.S. Natural Gas Pipelines’ comparable EBITDA was mainly driven by higher earnings from Columbia Gas, supported by increased transportation rates that took effect on April 1, 2025, pending final approval in the ongoing rate case.
The company also benefited from incremental earnings from newly placed projects and additional contract sales. Additionally, the figure beat our estimate of C$980.1 million.
The company reported that its U.S. Natural Gas Pipelines segment continued to operate at stable levels, with average daily flows of 26.3 Bcf/d, essentially unchanged from the third quarter of 2024. It also noted a surge in LNG-related activity, as deliveries to LNG facilities averaged 3.7 Bcf/d, up 15% year over year, and reached a new peak of 4.0 Bcf on Aug. 7, 2025.
Mexico Natural Gas Pipelines reported a comparable EBITDA of C$416 million, up 57% from the year-ago quarter’s reported figure of C$265 million. The figure exceeded our estimate of C$314.2 million.
The sharp increase in Mexico Natural Gas Pipelines’ comparable EBITDA was mainly driven by higher earnings from TGNH following the completion of the Southeast Gateway pipeline. The company reported that flows through its Mexico Natural Gas Pipelines averaged 3.3 Bcf/d, representing a 2% increase compared with the third quarter of 2024.
Power and Energy Solutions registered a comparable EBITDA of C$266 million, down 18.4% from the year-ago quarter’s level of C$326 million. The figure also missed our estimation of C$328 million. The decrease in Power and Energy Solutions’ comparable EBITDA was mainly due to lower net contributions from Bruce Power, reflecting reduced generation caused by the Unit 4 Major Component Replacement, and further pressured by lower realized power prices in Canadian Power.
TRP’s Expenditure and Balance Sheet
As of Sept. 30, 2025, TC Energy’s capital investments amounted to C$1.5 billion.
TRP had cash and cash equivalents worth C$1.8 billion and long-term debt of C$44.4 billion, with a debt-to-capitalization of 59.5% as of the same date.
TRP’s 2025 Guidance
TC Energy expects 2025 to deliver comparable EBITDA between C$10.8-C$11 billion, supported by strong project execution and disciplined operations. At the same time, the company anticipates capital expenditures to trend toward the lower end of its $6.1-$6.6 billion guidance, with net spending likely to settle within the $5.5-$6 billion range thanks to enhanced efficiency. Looking into 2026, the company expects EBITDA to rise to C$11.6-C$11.8 billion, signaling a healthy 6-8% year-over-year increase as new projects come online.
Extending its outlook further, the company anticipates EBITDA to reach C$12.6-C$13.1 billion by 2028, reflecting a solid 5-7% annual growth rate driven by long-term contracted assets and steady demand.
Additionally, the company expects its comparable earnings per common share (EPS) outlook to remain aligned with the guidance provided in its 2024 Annual Report. TC Energy anticipates that EPS will come in lower than the prior year’s level.
Alongside this financial momentum, the company expects to maintain its long-term leverage target of 4.75x debt-to-EBITDA while advancing low-risk, in-corridor expansions supported by take-or-pay and cost-of-service agreements.
TRP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a Glance
While we have discussed TRP’s third-quarter results in detail, let us take a look at three other key reports in this space.
Liberty Energy Inc. LBRT, a leading pressure pumping and oilfield services firm headquartered in Denver, posted a third-quarter 2025 adjusted net loss of 6 cents per share, wider than the Zacks Consensus Estimate of a loss of 1 cent. Moreover, the bottom line decreased sharply from the year-ago quarter’s profit of 45 cents. The company's underperformance can be attributed to macroeconomic headwinds accompanied by a slowdown in the industry’s frac activity and market pricing pressure.
As of Sept. 30, Liberty Energy had approximately $13.4 million in cash and cash equivalents. The pressure pumper’s long-term debt of $253 million represented a debt-to-capitalization of 10.9%.
San Antonio-based Valero Energy Corporation VLO, a leading independent refiner and marketer of transportation fuels and petrochemical products, reported third-quarter 2025 adjusted earnings of $3.66 per share, which beat the Zacks Consensus Estimate of $2.95. The bottom line improved from the year-ago quarter’s level of $1.16. Better-than-expected quarterly results can be primarily attributed to an increase in refining margins, higher ethanol margins and lower total cost of sales.
The company had cash and cash equivalents of $4.8 billion at the end of the third quarter. As of Sept. 30, 2025, it had a total debt of $8.4 billion and finance-lease obligations of $2.2 billion.
Houston-based Halliburton Company HAL, one of the world’s largest oilfield services providers specializing in drilling and well completions, posted third-quarter 2025 adjusted net income per share of 58 cents, beating the Zacks Consensus Estimate of 50 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line fell from the year-ago adjusted profit of 73 cents due to softer activity in North America.
As of Sept. 30, 2025, the company had approximately $2 billion in cash/cash equivalents and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 41.1.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
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Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

TC Energy Q3 Earnings Match Estimates, Revenues Beat, Both Fall Y/Y

The following companies are expected to report earnings prior to market open on 11/06/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
Astrazeneca PLC (AZN)is reporting for the quarter ending September 30, 2025. The biomedical (gene) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.14. This value represents a 9.62% increase compared to the same quarter last year. AZN missed the consensus earnings per share in the 4th calendar quarter of 2024 by -1.87%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for AZN is 17.99 vs. an industry ratio of -2.70, implying that they will have a higher earnings growth than their competitors in the same industry.
ConocoPhillips (COP)is reporting for the quarter ending September 30, 2025. The oil company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.40. This value represents a 21.35% decrease compared to the same quarter last year. In the past year COP has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 4.41%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for COP is 14.07 vs. an industry ratio of -22.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Parker-Hannifin Corporation (PH)is reporting for the quarter ending September 30, 2025. The machinery company's consensus earnings per share forecast from the 8 analysts that follow the stock is $6.67. This value represents a 7.58% increase compared to the same quarter last year. In the past year PH has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 8.62%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for PH is 26.41 vs. an industry ratio of 15.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Canadian Natural Resources Limited (CNQ)is reporting for the quarter ending September 30, 2025. The oil company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.54. This value represents a 23.94% decrease compared to the same quarter last year. CNQ missed the consensus earnings per share in the 4th calendar quarter of 2024 by -4.35%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CNQ is 12.91 vs. an industry ratio of 8.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Vistra Corp. (VST)is reporting for the quarter ending September 30, 2025. The electric power utilities company's consensus earnings per share forecast from the 3 analysts that follow the stock is $1.20. This value represents a 77.14% decrease compared to the same quarter last year. VST missed the consensus earnings per share in the 4th calendar quarter of 2024 by -47.47%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for VST is 27.31 vs. an industry ratio of 18.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Warner Bros. Discovery, Inc. (WBD)is reporting for the quarter ending September 30, 2025. The broadcast (radio/tv) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $-0.04. This value represents a 180.00% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for WBD is 61.08 vs. an industry ratio of 36.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Air Products and Chemicals, Inc. (APD)is reporting for the quarter ending September 30, 2025. The chemical company's consensus earnings per share forecast from the 7 analysts that follow the stock is $3.41. This value represents a 4.21% decrease compared to the same quarter last year. APD missed the consensus earnings per share in the 1st calendar quarter of 2025 by -5.28%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for APD is 20.03 vs. an industry ratio of 10.10, implying that they will have a higher earnings growth than their competitors in the same industry.
TC Energy Corporation (TRP)is reporting for the quarter ending September 30, 2025. The alternative energy company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.56. This value represents a 26.32% decrease compared to the same quarter last year. TRP missed the consensus earnings per share in the 1st calendar quarter of 2025 by -5.71%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for TRP is 19.08 vs. an industry ratio of 75.30.
Becton, Dickinson and Company (BDX)is reporting for the quarter ending September 30, 2025. The medical/dental supplies company's consensus earnings per share forecast from the 9 analysts that follow the stock is $3.91. This value represents a 2.62% increase compared to the same quarter last year. In the past year BDX has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 7.6%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for BDX is 12.43 vs. an industry ratio of 15.70.
Datadog, Inc. (DDOG)is reporting for the quarter ending September 30, 2025. The internet software company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.07. This value represents a 53.33% decrease compared to the same quarter last year. In the past year DDOG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2025 Price to Earnings ratio for DDOG is 508.10 vs. an industry ratio of 25.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Rockwell Automation, Inc. (ROK)is reporting for the quarter ending September 30, 2025. The electrical instrument company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.94. This value represents a 19.03% increase compared to the same quarter last year. In the past year ROK has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 4.83%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for ROK is 36.13 vs. an industry ratio of 3.90, implying that they will have a higher earnings growth than their competitors in the same industry.
NRG Energy, Inc. (NRG)is reporting for the quarter ending September 30, 2025. The electric power utilities company's consensus earnings per share forecast from the 2 analysts that follow the stock is $2.26. This value represents a 22.16% increase compared to the same quarter last year. NRG missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -9.76%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for NRG is 20.61 vs. an industry ratio of 18.90, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for November 6, 2025 : AZN, COP, PH, CNQ, VST, WBD, APD, TRP, BDX, DDOG, ROK, NRG

Wednesday, October 29, 2025
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including International Business Machines Corp. (IBM), Micron Technology, Inc. (MU) and Abbott Laboratories (ABT). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Pre-markets Advance Ahead of FOMC Rate Cut, Mag 7 Earnings
Today's Featured Research Reports
Shares of IBM have gained +57.2% over the past year against the Zacks Computer - Integrated Systems industry’s gain of +74%. The company reported strong third-quarter 2025 results, with adjusted earnings and revenues beating the respective Zacks Consensus Estimate. It is benefiting from a surge in demand for heterogeneous, dynamic and complex infrastructure strategies, which have led firms to undertake a cloud-agnostic and interoperable approach to highly secure multi-cloud management.
IBM is betting big on the Watsonx platform, which is likely to be its core technology platform for AI capabilities. IBM’s focus on quantum technology for solutions to complex problems beyond the reach of classical computing is a tailwind.
However, weakness in its traditional business and foreign exchange volatility remain concerns. Macroeconomic headwinds are worrisome. IBM’s acquisition spree has also escalated integration risks, while its high debt level is burdensome.
(You can read the full research report on IBM here >>>)
Micron’s shares have outperformed the Zacks Computer - Integrated Systems industry over the year-to-date period (+173.4% vs. +88.6%). The company is benefiting from the rapidly expanding artificial intelligence (AI)-driven memory and storage markets. The positive impacts of inventory improvement across multiple end markets are driving top-line growth.
The surging demand for HBM and robust DRAM pricing recovery will aid significant revenue and earnings growth in the coming quarters. Its solid financials, positive free cash flow and strong balance sheet provide the flexibility to invest in growth initiatives while enhancing shareholder value.
Micron’s long-term customer agreements and expanding AI partnerships reduce volatility and enhance revenue visibility. Nonetheless, a slower-than-expected demand recovery in NAND may hurt the overall financial performance. An escalating trade war is another concern.
(You can read the full research report on Micron here >>>)
Shares of Abbott have gained +11.1% over the past year against the Zacks Medical - Products industry’s gain of +31.5%. The company’s strong pipeline continues to open up new opportunities, supporting its 2025 outlook. The Medical Devices arm remains a key growth driver, led by the FreeStyle Libre CGM franchise, including the upcoming dual-analyte sensor integrating glucose and ketone monitoring.
In Diagnostics, Abbott’s Alinity platforms and Point of Care tests are driving growth outside China, even as VBP-related pricing and volume pressures continue to create a drag. Abbott remains optimistic about its biosimilar strategy, which is expected to boost EPD sales.
Within Nutrition, Abbott gains traction, driven by a strong Adult Nutrition and innovation across Ensure and Glucerna brands. Yet, persistent challenges in the Diagnostics, along with tariff impacts, FX fluctuations, and macroeconomic headwinds, continue to weigh modestly on overall growth.
(You can read the full research report on Abbott here >>>)
Other noteworthy reports we are featuring today include Las Vegas Sands Corp. (LVS), 3M Company (MMM) and TC Energy Corp. (TRP).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Rising AI Spending, Inventory Improvement Aid Micron (MU)
EPD Business Expansion, CGM Leadership Aid Abbott (ABT)
Featured Reports
Safety and Industrial Segment Aids 3M (MMM) Amid Forex Woes
Per the Zacks analyst, 3M will benefit from robust momentum in the Safety and Industrial unit, led by strength in industrial specialties and electrical markets. However, forex woes remain concerning.
TC Energy's (TRP) Vast Pipeline Network Fuels Future Growth
The Zacks analyst believes that TC Energy's robust pipeline infrastructure and gas storage assets offer a solid foundation for future growth, but its debt of over C$43 billion remains a concern.
Portfolio Diversification Aid AvalonBay (AVB) Amid High Unit Supply
Per the Zacks Analyst, AVB is set to gain from its portfolio diversification efforts and high home ownership costs. However, an elevated supply of rental units in some markets act as a dampener.
Solid American Income Aids Globe Life (GL), Expenses Hurt
Per the Zacks analyst, Globe Life is set to grow on solid American Income distribution channel, which drives the premium income and underwriting margin. However, high costs remain a concern.
Low Fuel Costs Aid American Airlines (AAL), High Debt Ails
The Zacks analyst is impressed with low fuel costs, which are aiding American Airlines' bottom line. High debt load is, however, a concern.
Smart Acquisitions and Renewable Assets Aid Clearway Energy (CWEN)
Per the Zacks analyst, Clearway Energy expands its renewable operations through strategic acquisitions. The company's focus on North American operations further supports its growth.
Badger Meter (BMI) Gains from Solid Demand Trends & Buyouts
Per the Zacks analyst, BMI's increased adoption of the BlueEdge suite of solutions is driving utility water sales. Also, synergies from strategic acquisitions bode well.
New Upgrades
Solid Growth at Marina Bay Sands Aids Las Vegas Sands (LVS)
Per the Zacks analyst, Las Vegas Sands benefits from solid Macao and Singapore business, driven by strategic investments. Also, focus on non-gaming segments bode well.
FEMSA (FMX) Boosts Digital Growth With Spin & OXXO Premia
Per the Zacks analyst, FEMSA is fast-tracking digital growth via Spin and OXXO Premia, boosting engagement, loyalty, and fintech reach, positioning it to unlock new revenue streams across retail.
Universal Health (UHS) Rides on Increasing Admissions & Patient Days
Per the Zacks analyst, Universal Health's continued growth in admissions and improved patient days at its acute care facilities will boost its top line.
New Downgrades
Agios' (AGIO) Sole Dependence on Pyrukynd A Concern
Per the Zacks Analyst, Agios is highly dependent on its sole marketed drug, Pyrukynd, to drive sales. Other than Pyrukynd, the company's pipeline drugs are still in early -stage development.
Slower Than Expected EV Adoption & High Debt Ail Harley (HOG)
Per the Zacks analyst, slower-than-anticipated EV adoption is hindering Harley's LiveWire segment growth. Elevated debt levels also remain a key concern.
Softness in Key Categories & High Costs Hurt Clorox's (CLX) Results
Per Zacks analyst, Clorox is battling rising expenses across manufacturing, logistics and promotional spending on inflationary trends and competition. Soft key categories further add to the pressure.
#1 Semiconductor Stock to Buy (Not NVDA)
The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.
One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Stock Reports for IBM, Micron & Abbott

Bloom Energy BE is scheduled to release second-quarter 2025 results on July 31, after market close. The company delivered an earnings surprise of 142.9% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Key Factors That May Impact BEP’s Q2 Results
Bloom Energy’s second-quarter earnings are expected to have benefited from its expanding domestic and international commercial capability. The company continues to gain from its fuel cell technology, which helps provide clean, reliable and affordable energy solutions.
The bottom line is likely to have benefited from the surging energy demand from data centers. Its on-site power generation solutions should have enhanced energy efficiency, lowered emissions, and provided fast, reliable power, helping data centers meet their growing operational needs more sustainably.
Bloom Energy's second-quarter top line is expected to have continued to benefit from its current projects in South Korea, a highly significant market for the company. Through the partnership with SK ecoplant, Bloom Energy is able to build and maintain its market leadership in both the hydrogen economy and electricity generation.
BEP’s Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at breakeven.
The Zacks Consensus Estimate for revenues is pinned at $381.39 million, indicating a year-over-year increase of 13.6%.
What the Zacks Model Unveils
Our proven model does not predict an earnings beat for Bloom Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below.
Bloom Energy Corporation Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Bloom Energy carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
TC Energy TRP is likely to come up with an earnings beat when it announces second-quarter results on July 31, before market open. It has an Earnings ESP of +0.96% and a Zacks Rank #3 at present.
TRP’s long-term (three to five years) earnings growth rate is 4%. The company delivered an average earnings surprise of 4.83% for the trailing four quarters.
Chevron CVX is expected to come up with an earnings beat when it reports second-quarter results on Aug. 1, before market open. It has an Earnings ESP of +3.63% and a Zacks Rank #3 at present.
CVX’s long-term earnings growth rate is 8.74%. The Zacks Consensus Estimate for second-quarter earnings is pinned at $1.66 per share.
ONEOK OKE is expected to post an earnings beat when it announces second-quarter results on Aug. 4, after market close. It has an Earnings ESP of +1.50% and a Zacks Rank #3 at present.
OKE’s long-term earnings growth rate is 7.68%. The Zacks Consensus Estimate for second-quarter earnings is pinned at $1.39 per share.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Bloom Energy to Report Q2 Earnings: What's in Store for the Stock?

Shell plc SHEL is set to release second-quarter results on July 31. The current Zacks Consensus Estimate for the to-be-reported quarter is earnings of $1.13 per share on revenues of $73.7 billion.
Let’s delve into the factors that might have influenced the integrated energy behemoth’s results in the June quarter. But it’s worth taking a look at SHEL’s previous-quarter performance first.
Highlights of Q1 Earnings & Surprise History
In the last reported quarter, Europe’s largest oil company beat the consensus mark on the back of higher natural gas realizations. SHEL had reported earnings per ADS (on a current cost of supplies basis, excluding items — the market’s preferred measure) — of $1.84, well above the Zacks Consensus Estimate of $1.54. However, revenues of $70.2 billion came in more than 12% below the Zacks Consensus Estimate due to lower LNG sales.
Shell beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, resulting in an earnings surprise of 1.7%, on average. This is depicted in the graph below:
Shell PLC Unsponsored ADR Price and EPS Surprise
Trend in Estimate Revision
The Zacks Consensus Estimate for the second-quarter bottom line has remained unchanged in the past seven days. The estimated figure indicates a 42.6% drop year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests a 1.8% decrease from the year-ago period.
Factors to Consider
Shell recently issued an updated outlook for the second quarter of 2025, signaling challenges with several parts of its business dealing with headwinds. The company expects second-quarter average production for its Integrated Gas division to be 900,000-940,000 barrels of oil equivalent per day compared with 927,000 achieved in the January-March period. LNG output is now expected to be between 6.4 million and 6.8 million tons, and gas trading results are likely to be weaker than in the first quarter. On the traditional drilling side, production is expected to decline to 1.66-1.76 million barrels of oil equivalent per day, due to both scheduled maintenance and the sale of its Nigerian SPDC assets.
Still, Shell's refining margins look strong, rising from $6.20 per barrel in the first quarter to $8.90 per barrel in the second. This is supported by better utilization of its refineries. However, the company’s chemicals business is expected to report a loss due to unplanned shutdowns at its Monaca plant. Shell’s renewables and energy solutions segment’s bottom line will likely be between $400 million loss and $200 million profit. The Zacks Consensus Estimate for Shell's EPS is pegged at $1.44, down 27% from last year, as the company relies on its marketing and refining arms to offset broader weaknesses.
What Does Our Model Say?
The proven Zacks model does not conclusively show that Shell is likely to beat estimates in the second quarter of 2025. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Shell has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $1.13 per share each.
Zacks Rank: Shell currently carries a Zacks Rank #3, which increases the predictive power of ESP. However, the company’s 0.00% ESP makes surprise prediction difficult this earnings season.
Stocks to Consider
While an earnings beat looks uncertain for Shell, here are some firms from the energy space that you may want to consider on the basis of our model:
TC Energy TRP has an Earnings ESP of +0.96% and a Zacks Rank #3. The firm is scheduled to release earnings on July 31.
You can see the complete list of today’s Zacks #1 Rank stocks here.
TC Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 4.8%. Valued at around $49 billion, TC Energy has gained 12.8% in a year.
Northern Oil and Gas NOG has an Earnings ESP of +7.98% and a Zacks Rank #3. The firm is scheduled to release earnings on July 31.
Northern Oil and Gas beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, with the average being 14.8%. Valued at around $2.8 billion, Northern Oil ad Gas has lost 29.2% in a year.
Chevron Corporation (CVXCVX) has an Earnings ESP of +3,63% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 1.
Over the past 30 days, the Zacks Consensus Estimate for Chevron’s 2025 earnings has moved up 5.7%. Valued at over $270 billion, Chevron is down 1.1% in a year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
Download Atomic Opportunity: Nuclear Energy's Comeback free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Shell Q2 Earnings Preview: Can Refining Margins Save the Day?

CNX Resources Corporation CNX is scheduled to release second-quarter 2025 results on July 24, before market open. The company delivered an earnings surprise of 21.9% in the last reported quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Key Factors That May Impact CNX's Q2 Results
CNX Resources is expected to have benefited from its completed acquisition of Apex Energy during the first quarter of 2025. It is likely to have gained from increased production capacity, access to undeveloped acreage and further enhanced free cash flow per share. The acquisition also provides CNX with a larger operational scale and enhances its footprint in the Marcellus and Utica shale regions.
CNX Resources’ second-quarter 2025 results are expected to continue to benefit from its focus on technology development, combined with its asset base and operational expertise, which positions it to responsibly develop resources and deploy free cash flow for long-term value creation.
The company’s ability to generate free cash flow might have allowed it to continue paying down debt (that will reduce interest expenses) and buying back shares, thereby boosting its bottom line in the yet-to-be-reported quarter.
CNX’s Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 38 cents per share, indicating a year-over-year increase of 5.6%. The Zacks Consensus Estimate for revenues is pinned at $456.5 million, indicating a year-over-year increase of 31.9%.
The consensus mark for total production volumes is pegged at 158.66 billion cubic feet equivalent, up 18.4% year over year.
The consensus estimate for average natural gas sales price is pinned at $2.97 per thousand cubic feet equivalent, up 85.6% year over year.
The Zacks Consensus Estimate for realized natural gas price is pegged at $2.45 per thousand cubic feet, down 2.4% from the year-ago quarter’s registered figure.
What the Zacks Model Unveils
Our proven model does not predict an earnings beat for CNX Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below.
CNX Resources Corporation. Price and EPS Surprise
Earnings ESP: The company’s Earnings ESP is -13.38%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, CNX Resources carries a Zacks Rank #3. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector as these have the right combination of elements to post an earnings beat this reporting cycle.
TC Energy TRP is likely to come up with an earnings beat when it announces second-quarter results on July 31, before market open. It has an Earnings ESP of +3.60% and a Zacks Rank #3 at present.
TRP’s long-term (three to five years) earnings growth rate is 4%. The company delivered an average earnings surprise of 4.83% for the trailing four quarters.
ONEOK OKE is expected to post an earnings beat when it announces second-quarter results on Aug. 4, after market close. It has an Earnings ESP of +6.04% and a Zacks Rank #3 at present.
OKE’s long-term earnings growth rate is 7.68%. The Zacks Consensus Estimate for second-quarter earnings is pinned at $1.38 per share.
Occidental Petroleum OXY is expected to come up with an earnings beat when it reports second-quarter results on Aug. 6, after market close. It has an Earnings ESP of +2.17% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for OXY’s second-quarter earnings is pinned at 31 cents per share. The company delivered an average earnings surprise of 24.34% for the trailing four quarters.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.