Ecopetrol (NYSE:EC) is set to give its latest quarterly earnings report on Tuesday, 2023-05-09. Here’s what investors need to know before the announcement.
Analysts estimate that Ecopetrol will report an earnings per share (EPS) of $0.53.
Ecopetrol bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company missed EPS by $0.44, which was followed by a 2.71% increase in the share price the next day.
Here’s a look at Ecopetrol’s past performance and the resulting price change:
| Quarter | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|
| EPS Estimate | 1.13 | 0.88 | 0.93 | |
| EPS Actual | 0.69 | 1.05 | 1.3 | 0.82 |
| Price Change % | 2.71% | -3.67% | -3.87% | -0.23% |
Stock Performance
Shares of Ecopetrol were trading at $9.2 as of May 05. Over the last 52-week period, shares are down 38.29%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.
To track all earnings releases for Ecopetrol visit their earnings calendar on our site.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
