SM Energy (NYSE: SM) is expected to report Q2 earnings on July 30. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict SM Energy's revenues will expand 66.4% and EPS will increase 733.3%.

The average estimate for revenue is $506.6 million. On the bottom line, the average EPS estimate is $0.75.

Revenue details
 Last quarter, SM Energy reported revenue of $484.2 million. GAAP reported sales were 29% higher than the prior-year quarter's $374.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.82. GAAP EPS of $0.25 for Q1 were 36% lower than the prior-year quarter's $0.39 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 74.1%, 260 basis points worse than the prior-year quarter. Operating margin was 9.3%, 640 basis points worse than the prior-year quarter. Net margin was 3.5%, 350 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.09 billion. The average EPS estimate is $3.25.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 279 members out of 295 rating the stock outperform, and 16 members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give SM Energy a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SM Energy is outperform, with an average price target of $74.12.

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