Will Energy Players SLB & BHGE Beat Earnings In Q1?
Zacks Investment Research | Apr 19, 2018 12:30AM ET
So far in Q1 earnings, 10.4% of the S&P 500 companies have reported results. The total 52 companies belonging to the index saw year-over-year earnings growth of 27.9% on 10.7% higher revenues. Notably, 84.6% of the firms surpassed the Zacks Consensus Estimate for earnings while 78.8% beat the revenue mark.
As of now, we have seen only one S&P 500 release from the Energy space — Kinder Morgan, Inc. (NYSE:KMI) .
Energy Sector Likely to Shine Bright
For the first-quarter of 2018, we expect Energy to eclipse all the 16 Zacks sectors, posting earnings growth of 58.6%. For the January-to-March quarter, we project earnings of $14 billion — the highest in the last four quarters.
Importantly, Energy will likely be among the major drivers behind the S&P 500’s year-over-year earnings growth. Excluding Energy, the index’s Q1 earnings growth will likely drop to 16.5% from 17.8%.
A favorable Q1 oil pricing scenario is expected to back Energy’s performance. Per the Zacks Investment Research
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