In IBD's Screen of the Day, we look at some of the top global stocks in IBD's Stock Screener. Amid soaring commodity prices and an ongoing conflict with Russia, these are some of the leaders that have seen profits soar.
Higher prices for agricultural commodities have led to a record demand for fertilizers to increase crop yields. Sociedad Quimica y Minera — a Chilean fertilizer producer — has benefited from this demand with impressive growth. After reporting earnings of $2.05 per share in 2021, EPS is expected to jump over 500% to $11.81 this year.
Investors will get a taste of whether the company will meet these lofty growth expectations with second-quarter earnings on Aug. 17. EPS is estimated at $3.12 on revenue of $2.28 billion, according to FactSet. SQM is also a major lithium producer.
Sociedad Quimica y Minera currently has a top IBD Composite Rating of 99 and is the leader in IBD's agricultural chemicals group. Shares are forming a cup base with a 115.86 buy point, although the stock is more than 15% away from that entry.
Triton Reports Record Earnings On Hot Container Demand
Hot shipping container demand highlighted Triton International's second-quarter earnings, announced July 27. The company reported earnings of $2.92 per share, beating estimates of $2.65 while revenue came in at $421.5 million. In the second quarter, Triton boosted an almost perfect 99.4% utilization rate for containers.
The stock's relative strength line is at new highs as the stock looks to break out from a double bottom pattern. A buy point can be identified at 66.75.
Natural Gas Demand Boosts These Global Stocks
As Russia continues to limit natural gas supplies to Europe, soaring prices have led to strength for natural gas producers and transporters. Bermuda-based Flex LNG is in an enviable position as a natural gas transporter with a fleet of thirteen vessels.
Shares of Flex LNG are forming a cup base with a 33.46 buy point, per MarketSmith pattern recognition.
Norway-based Equinor was Monday's IBD Stock of the Day. The top-ranked stock in IBD's integrated oil and gas industry group reported strong earnings as European natural gas demand soared to record levels. This allowed Equinor to increase its share buyback program while also issuing a special dividend.
Equinor remains a top stock to closely watch as shares are trying to break out of a double bottom pattern, trading near a 38.80 buy point.
