Earnings Preview: Chesapeake Energy (CHK) Q2 Earnings Expected to Decline

Core Insights - The upcoming earnings report for Chesapeake Energy is expected to show a year-over-year decline in earnings due to lower revenues, with a consensus EPS estimate indicating a break-even performance, reflecting a -100% change from the previous year [2][16] - The consensus EPS estimate for CNX Resources has been revised 10.7% higher over the last 30 days, indicating positive sentiment among analysts [14] Chesapeake Energy - Chesapeake Energy is projected to report revenues of $556.35 million, which is a 14.3% decrease from the same quarter last year [18] - The Most Accurate Estimate for Chesapeake Energy is significantly lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1,766.68%, suggesting a bearish outlook from analysts [6] - Over the last four quarters, Chesapeake Energy has beaten consensus EPS estimates three times, indicating some potential for positive surprises despite current negative indicators [24] CNX Resources - CNX Resources is expected to report earnings per share of $0.27 for the quarter ended June 2024, reflecting a year-over-year change of -6.9% [27] - The revenues for CNX Resources are anticipated to be $387.28 million, which represents a 14.9% increase from the previous year [27] - The combination of a positive Earnings ESP of 6.21% and a Zacks Rank of 3 (Hold) suggests that CNX Resources is likely to beat the consensus EPS estimate [14][28]