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Whiting Petroleum’s 1Q17 Earnings: A Repeat of 4Q16?

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1Q17 earnings release

Whiting Petroleum (WLL) is expected to release its 1Q17 earnings on April 26, 2017, after the markets close.

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1Q17 revenue estimate

Whiting Petroleum’s 1Q17 revenue estimate is lower than its revenue for the previous quarter. The estimate for 1Q17 is ~$368.0 million, which is ~26.0% higher than 1Q16 revenue but 22.0% lower than 4Q16 revenue.

The estimated fall in revenue for 1Q17 may have resulted from a deterioration in crude oil prices (USO) (DBO) (UCO) in the quarter. In March, crude oil prices started falling below $50 per barrel. But at the end of the quarter, prices recovered and were trading above $50 per barrel. Crude oil prices have fallen 3.3% in the first quarter of 2017.

The above graph shows that Whiting Petroleum’s revenues beat estimates in the previous quarters. Investors will be watching to see if the trend continues in 1Q17.

Whiting Petroleum’s 1Q17 EPS estimate

Whiting Petroleum’s 1Q17 loss per share estimate is $0.20. Its 4Q16 loss per share was $0.28. The company’s stock fell $0.85. Like its revenues, Whiting Petroleum’s earnings performed better than expected in the previous quarter.

In comparison, Whiting Petroleum’s peer Continental Resources (CLR) is expected to report EPS (earnings per share) of $0.05 in 1Q17. Whiting Petroleum and Continental Resources make up 0.65% of the iShares US Oil & Gas Exploration & Production ETF (IEO).

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