2Q16 earnings release
Oasis Petroleum (OAS) is expected to release its fiscal 2Q16 earnings on August 3, 2016.
Oasis Petroleum’s 2Q16 revenue estimate
Oasis Petroleum’s 2Q16 revenue estimates are lower than its revenue for the previous quarters. For 2Q16, its revenue estimate is ~$196 million. That’s ~15% lower than its 2Q15 revenue but ~4% lower than its 1Q16 revenue.
The above graph shows that Oasis Petroleum’s revenues either beat or were similar to their estimates in the previous three quarters. Investors can watch to see how things pan out for the upstream company in 1Q16.
Oasis Petroleum’s 2Q16 EPS estimates
Oasis Petroleum’s 2Q16 loss per share estimate is $0.15. Its 1Q16 loss per share was $0.17. The earnings per share in 1Q15 was $0.38.
OAS posted better earnings than most of its peers in 1H15 despite low energy prices. However, as crude oil prices fell in 2H15 and dipped below $40 per barrel in 4Q15, OAS’s and many other companies’ earnings took a hit.
In 1Q16, OAS’s earnings were negative, something it managed to avoid in 2015. Keep watching Market Realist to see if this trend will continue in 2Q16.
Oasis Petroleum’s peers, including Whiting Petroleum (WLL) and Newfield Exploration (NFX) are expected to report earnings per share of -$0.47 and $0.13, respectively, in 2Q16. All these companies make up 6% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
Fiscal 2015 earnings recap
OAS reported adjusted EPS of $0.72 for fiscal 2015. Its EPS in 2014 totaled $2.22 per share. OAS’s 2015 revenue came in at ~$1.2 billion against ~$1.4 billion in 2014.