Noble Corporation plc NE is expected to report first-quarter 2017 earnings around May 4, 2017, after the market closes.Last quarter, the company posted a positive earnings surprise of 34.78%. In the last four quarters, Noble Corp. had an average negative surprise of 20.20%. Let’s see how things are shaping up for this announcement.Noble Corporation Price and EPS Surprise Noble Corporation Price and EPS Surprise | Noble Corporation QuoteEarnings WhispersOur proven model shows that Noble Corp. is likely to beat on earnings this time because it has the right combination of two key ingredients. Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is +5.00%. This is because the Most Accurate estimate stands at a loss of 19 cents, while the Zacks Consensus Estimate is pegged at a loss of 20 cents. This is very meaningful and a leading indicator of a likely positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Noble Corp. carries a Zacks Rank #3 (Hold). Note that stocks with Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a significantly higher chance of beating on earnings. The combination of Noble Corp.’s favorable Zacks Rank and a positive Earnings ESP makes us confident about an earnings beat.Conversely, the Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement. Factors Likely to Influence this QuarterNoble Corp. is a leading offshore drilling firm with a robust portfolio of assets. Though the industry has witnessed a setback in the past few months, the company is likely to be less impacted by it than its peers. This is because Noble Corp. enjoys a strong backlog position ($3.3 billion).Last November, OPEC and non-OPEC oil producing members decided to curb crude output, which led to commodity price improvement. Following, Noble Corp. is also expected to benefit from the increase in oil prices as activity levels have been increasing.Moreover, Noble Corp. has been able to significantly reduce expenses related to oil and gas production activities during 2016. The success on this front reflects the company’s consistent efficiency gains and cost-reduction initiatives and should prove favorable for the first-quarter earnings.The company’s price chart is impressive. Shares of the company outperformed the Zacks categorized Oil & Gas Drilling industry, year to date. While Noble Corp.’s shares lost 22%, the broader market indices decreased by 25.7% during the aforesaid period.However, the offshore drilling industry is witnessing rig oversupply. This is a cause for concern for the likes of Noble Corp. as an increase in rig count may hamper contract flow and dayrates. In addition, major oil companies are lowering deep-water capital spending, thereby worsening the situation.Other Stocks to ConsiderNoble Corp. is not the only company looking up this earnings season. Here are some companies from the energy space which according to our model have the right combination of elements to post an earnings beat this quarter:Enterprise Products Partners, LP EPD is expected to release earnings on May 2. The partnership has an Earnings ESP of +3.13% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.Chesapeake Energy Corp. CHK has an Earnings ESP of +5.26% and a Zacks Rank #3. The company is expected to release earnings on May 4.Cimarex Energy Co. XEC has an Earnings ESP of +1.19% and a Zacks Rank #3. The partnership is expected to release earnings on May 8.5 Trades Could Profit "Big-League" from Trump PoliciesIf the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>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 Noble Corporation (NE): Free Stock Analysis Report Chesapeake Energy Corporation (CHK): Free Stock Analysis Report Cimarex Energy Co (XEC): Free Stock Analysis Report To read this article on Zacks.com click here.