Evolution Petroleum EPM is set to report fiscal first-quarter 2023 results on Nov 8, after the closing bell.In the last reported quarter, Evolution beat the Zacks Consensus Estimate. It outpaced the consensus estimate twice, missed once and met once in the prior four quarters, the average earnings surprise being 2.3%. This is depicted in the graph below:Evolution Petroleum Corporation, Inc. Price and EPS Surprise Evolution Petroleum Corporation, Inc. price-eps-surprise | Evolution Petroleum Corporation, Inc. QuoteTrend in Estimate RevisionThe Zacks Consensus Estimate for the company’s fiscal first-quarter earnings per share of 38 cents has witnessed no revisions in the past seven days. The estimated figure suggests an improvement of 137.5% from the prior-year number.Factors to ConsiderPer data provided by the U.S. Energy Information Administration (“EIA”), the average West Texas Intermediate crude prices in July, August and September were recorded at $101.62 per barrel, $93.67 per barrel and $84.26 per barrel, respectively. In comparison, in the year-ago respective months, average oil prices were reported at $72.49 per barrel, $67.73 per barrel and $71.65 per barrel, per the EIA’s data.Higher oil price was favorable for the exploration and production activities of Evolution. Natural gas price was also healthier, thereby favoring EPM’s exploration and production businesses. These are likely to have aided the company’s bottom line.Earnings WhispersOur proven model does not conclusively predict an earnings beat for Evolution this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.Earnings ESP: Evolution’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: It currently carries a Zacks Rank #2.3 Upstream Firms That Beat EstimatesThree leading upstream players that have benefited from the favorable commodity prices in the September quarter are Range Resources Corporation RRC, Southwestern Energy Company SWN and ConocoPhillips COP.In the third quarter, Range Resources reported earnings per share of $1.37, beating the Zacks Consensus Estimate of $1.36.Southwestern Energy reported earnings per share of 32 cents, surpassing the Zacks Consensus Estimate of 30 cents.ConocoPhillips reported earnings per share of $3.6, surpassing the Zacks Consensus Estimate of $3.41.All the stocks carry a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 ConocoPhillips (COP): Free Stock Analysis Report Range Resources Corporation (RRC): Free Stock Analysis Report Southwestern Energy Company (SWN): Free Stock Analysis Report Evolution Petroleum Corporation, Inc. (EPM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research