Baker Hughes Company BKR is set to report first-quarter 2021 results on Apr 21, before the opening bell.In the last reported quarter, the company’s loss of 7 cents per share missed the Zacks Consensus Estimate of earnings of 16 cents. This was owing to lower profits from the company’s Oilfield Services and Digital Solutions units.Notably, the oilfield service provider has an average negative earnings surprise of 130.4% for the past four reported quarters. 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 earnings announcement.Trend in Estimate RevisionThe Zacks Consensus Estimate for first-quarter earnings per share of 11 cents has seen one upward revision and one downward movement in the past 30 days. The figure indicates the same bottom line as was reported a year ago.Further, the Zacks Consensus Estimate for revenues of $4.8 billion suggests an 11.6% decline from the prior-year quarter.What the Quantitative Model SuggestsOur proven model predicts 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 chances of an earnings beat.Earnings ESP: Baker Hughes has an Earnings ESP of +3.97%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.Zacks Rank: Baker Hughes currently carries a Zacks Rank #3.Factors Driving the Better-Than-Expected EarningsIn the first quarter of this year, the price of West Texas Intermediate (WTI) crude improved nearly 21.9%, thanks to the rolling out of coronavirus vaccines, which brightened up the outlook of global fuel demand. The rise in oil price provided incentives to explorers and producers to return to shale plays.Since oilfield service providers assist upstream players to efficiently drill oil and gas wells, increased exploration and production activities are likely to have boosted demand for products and services that are being offered by Baker Hughes.Other Stocks That Warrant a LookHere are some other firms that you may want to consider as these too have the right combination of elements to post an earnings beat in the upcoming quarterly reports:Diamondback Energy, Inc. FANG has an Earnings ESP of +1.26% and is a Zacks #1 Ranked player. The company is scheduled to release first-quarter results on May 3. You can see the complete list of today’s Zacks #1 Rank stocks here. EOG Resources, Inc. EOG has an Earnings ESP of +14.8% and a Zacks Rank of 1. It is scheduled to report first-quarter results on May 6.BP plc BP has an Earnings ESP of +5.26% and a Zacks Rank #3. The firm is scheduled to release first-quarter earnings on Apr 27.Zacks Top 10 Stocks for 2021In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2021 today >>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 EOG Resources, Inc. (EOG): Get Free Report BP p.l.c. (BP): Get Free Report Diamondback Energy, Inc. (FANG): Get Free Report Baker Hughes Company (BKR): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research