Liquified natural gas infrastructure provider Excelerate Energy (NYSE:EE) will be announcing earnings results this Wednesday after market close. Here’s what investors should know.
Excelerate Energy beat analysts’ revenue expectations last quarter, reporting revenues of $317.6 million, up 15.7% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS 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 grow 8.8% year on year, slowing from the 57.5% 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 to stay the course heading into earnings. Excelerate Energy has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Excelerate Energy’s peers in the upstream & integrated segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Kinder Morgan delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 3.3%, and Expand Energy reported revenues up 41%, topping estimates by 48.2%. Kinder Morgan’s stock price was unchanged after the resultswhile Expand Energy was up 4.2%.
Read our full analysis of Kinder Morgan’s results here and Expand Energy’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 5.1% on average over the last month. Excelerate Energy is up 4% during the same time and is heading into earnings with an average analyst price target of $42.38 (compared to the current share price of $34.40).
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