Kinder Morgan Inc and Newmont Mining Corp are scheduled to announce their earnings report for the second quarter after the market closes today.
Based on the consensus estimate, Kinder Morgan is expected to announce $0.15 earnings per share (EPS) for the second quarter, suggesting a 25% sequential rally in earnings.
Meanwhile, the EPS of $0.15 for the second quarter of fiscal year 2015 implies that the consensus anticipates earnings to report flat record YoY. Kinder Morgan posted an EPS of $0.12 in the last quarter.
Analysts expect the energy infrastructure company to reach as much as $3.45 billion, which seemed to post nearly $3.46 billion revenue announced for the same quarter of the prior year.
The consensus estimate suggests a sequential growth of 8.15% in earnings, as the company reported earlier $3.19 billion revenue in the first quarter of fiscal year 2016.
Subsequently, revenue forecast of Estimize data expects the company to post $3.39 billion, citing a top line beat.
A research firm anticipates Newmont to announce earnings of 28 cents per share, while some expect an end result of one cent as their forecast settled at $0.29. The company posted an EPS of $0.26 for the same quarter in the prior year, while recorded an EPS of $0.34 for the first quarter in fiscal year 2016.
The figures show that the consensus anticipates NEM to announce a 7.69% YoY rally in earnings, and a decline of 17.64% in earnings sequentially.
Newmont’s quarterly revenue is expected to settle at $1.89 billion, similar to what Estimize estimates. The consensus forecast shows 0.9% plunge in earnings for an annual basis, compared to the prior year revenue of $1.908 billion. The mining company recorded a $2.03 billion revenue in the last quarter.
Kinder Morgans’s Cuts Operating Expenses
In other news, the largest natural gas pipeline operator announced on Wednesday that the stakeholder profits in the second quarter remained unchanged last year, led by cost-cutting on operational expenses.
The company reported $333 million gains, and the same record on the cents per share amid the second quarter of the prior year. Revenues saw declines last quarter as $3.14 billion was down to $319 million.
“We are pleased to have taken substantial steps towards achieving our stated goals of strengthening our balance sheet and positioning the company for long-term value creation,” Richard D. Kinder, executive chairman, said in a statement.
“We are now closer to reaching our targeted leverage level, which will position us to return substantial value to shareholders through some combination of dividend increases, share repurchases, attractive growth projects or further debt reduction.”