Natural gas producer BKV (NYSE:BKV) will be reporting earnings this Thursday before the bell. Here’s what to look for.
BKV beat analysts’ revenue expectations last quarter, reporting revenues of $330.1 million, up 176% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates. It reported 33,000 oil production per day, up 57.1% year on year.
Is BKV 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 BKV’s revenue to grow 299% year on year, a reversal from the 48.1% decrease 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. BKV has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at BKV’s peers in the upstream natural gas e&p segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Range Resources delivered year-on-year revenue growth of 20.6%, beating analysts’ expectations by 6.4%, and CNX Resources reported revenues up 19.1%, topping estimates by 2.7%. Range Resources traded up 3.8% following the results while CNX Resources was down 3.7%.
Read our full analysis of Range Resources’s results here and CNX Resources’s results here.
There has been positive sentiment among investors in the upstream natural gas e&p segment, with share prices up 5.2% on average over the last month. BKV is up 14.8% during the same time and is heading into earnings with an average analyst price target of $35.45 (compared to the current share price of $32.13).
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