Baker Hughes Company BKR is set to report second-quarter 2021 results on Jul 21, before the opening bell.In the last reported quarter, the company’s earnings of 12 cents per share beat the Zacks Consensus Estimate by a penny, owing to higher contributions from the Turbomachinery & Process Solutions business unit and increased cost productivity.The company beat the Zacks Consensus Estimate for earnings in one of the prior four quarters, met once and missed on the other two occasions, delivering a negative earnings surprise of 133.7%, on average. This is depicted in the graph below:Baker Hughes Company Price and EPS Surprise Baker Hughes Company price-eps-surprise | Baker Hughes Company QuoteLet’s see how things have shaped up prior to the upcoming announcement.Trend in Estimate RevisionThe Zacks Consensus Estimate for second-quarter earnings per share of 17 cents has seen two upward revisions and no downward movement in the past 30 days. The figure indicates an increase of 440% from the year-ago quarter.The Zacks Consensus Estimate for revenues of $4.9 billion suggests a 4.1% increase from the prior-year quarter.Factors to ConsiderThe price of West Texas Intermediate crude improved more than 20% in the June quarter of this year. In comparison with the year-ago quarter, the commodity price has improved drastically. The scale of this improvement can be represented as a price surge from the pandemic-hit low mark — when oil was in the negative territory — last April, to breaking the psychological barrier of $70 per barrel.The significant improvement in the commodity pricing scenario was backed by the optimism that fuel demand will recover considerably this year, thanks to the rolling out of coronavirus vaccines at a massive scale.A favorable crude pricing environment convinced explorers and producers to return to shale plays, although drilling activities have slowed down as upstream players are focusing mainly on stockholder returns rather than boosting the output.With upstream players returning to shale plays, higher oilfield service activities are likely to have aided Baker Hughes’ bottom line. The slowdown of drilling activities is, however, expected to have hurt the Houston, TX-based company’s operations.Earnings WhispersOur proven model does not predict an earnings beat for Baker Hughes this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.Earnings ESP: Baker Hughes has an Earnings ESP of -9.34%. This is because the Most Accurate Estimate of 15 cents for the quarter is currently pegged below the Zacks Consensus Estimate of 17 cents per share. You can uncover the best stocks to buy or sell before they are reported with our /www.zacks.com/premium/esp-buy?adid=zp_article_espfilter&..." target="_blank" rel="nofollow" rel="nofollow">https://www.zacks.com/premium/esp-buy?adid=zp_article_espfil...">Earnings ESP Filter.Zacks Rank: Baker Hughes currently sports a Zacks Rank #1.Stocks to ConsiderWhile an earnings beat looks uncertain for Baker Hughes, here are some companies from the Energy space you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in the upcoming quarterly releases:Enterprise Products Partners LP EPD has an Earnings ESP of +6.61% and a Zacks Rank of 3. It is scheduled to report second-quarter results on Jul 28. You can see /www.zacks.com/stocks/buy-list/?ADID=zp_1link&ICID=zpi" target="_blank" rel="nofollow" rel="nofollow">https://www.zacks.com/stocks/buy-list/?ADID=zp_1link&ICI... _1link">the complete list of today’s Zacks #1 Rank stocks here.EQT Corporation EQT has an Earnings ESP of +134.00% and is a Zacks #3 Ranked player. The company is scheduled to release second-quarter results on Jul 28.Enerplus Corporation ERF has an Earnings ESP of +10.71% and a Zacks Rank #1. The firm is scheduled to release quarterly earnings on Aug 5. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report EQT Corporation (EQT): Free Stock Analysis Report Enerplus Corporation (ERF): Free Stock Analysis Report Baker Hughes Company (BKR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research