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The Zacks Consensus Estimate for third-quarter earnings has been stable at $9.20 per share over the past 60 days. The consensus mark for revenues is currently pegged at $2.67 billion.
Against this backdrop, let’s take a look at the factors that might have shaped the company’s September-quarter performance.
With the gradual resumption of economic activities, the world trade picked up the pace, which in turn, is likely to aid the third-quarter results of shipping stocks like ZIM Integrated Shipping. This is because the shipping industry is responsible for transporting an enormous proportion of goods involved in world trade.
Revenues in the to-be-reported quarter are expected to have increased sequentially, driven by improved revenues from containerized cargo, reflecting higher freight rates among other factors.
The positive sentiment surrounding the containership market is a huge positive for ZIM Integrated Shipping and might have aided its top line in the soon-to-be-reported quarter. The containership market is being aided by ramped-up manufacturing activities in Asia besides other factors.
On the flip side, escalated voyage operating expenses, mainly due to increased fuel costs, are likely to have hurt the bottom line in the September quarter.
Earnings Whispers
Our proven model does not predict an earnings beat for ZIM Integrated Shipping 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 a positive surprise. However, that is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: ZIM Integrated Shipping has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ZIM Integrated Shipping has a Zacks Rank #3, currently.
Highlights of Q2 Earnings
ZIM Integrated Shipping’s second-quarter earnings of $7.38 per share surpassed the Zacks Consensus Estimate of $5.71. Total revenues of $2,382 million also surpassed the Zacks Consensus Estimate of $1,907.3 million.
Sectorial Snapshots
Let’s look into some of the already released third-quarter 2021 earnings reports from companies within the Zacks Transportation sector.
GATX Corporation’s (GATX - Free Report) third-quarter 2021 earnings of $1.11 per share surpassed the Zacks Consensus Estimate of $1. Total revenues of $313.5 million inched up approximately 3% year over year, mainly owing to a 3.9% rise in lease revenues to $283.9 million.
Lease revenues contributed 90.6% to the top line. Marine operating revenues at GATX contributed 1.6% to the top line. The balance came from other sources. The stock price has surged 35.1% in the past year. GATX carries a Zacks Rank #2 (Buy) at present.
J.B. Hunt Transportation Services (JBHT - Free Report) reported third-quarter earnings of $1.88 per share, surpassing the Zacks Consensus Estimate of $1.77. Total operating revenues of $3144.8 million outperformed the Zacks Consensus Estimate of $3002.1 million.
The company exited the third quarter with cash and cash equivalents of $529.6 million compared with $313.3 million at the end of 2020. Long-term debt at J.B. Hunt was $944.9 million compared with $1.31 billion at 2020 end. The stock price has soared 52.4% over the past year. J.B. Hunt currently carries a Zacks Rank of 2.
Old Dominion Freight Line’s (ODFL - Free Report) third-quarter 2021 earnings per share of $2.47 outpaced the Zacks Consensus Estimate by 10 cents. The bottom line surged 44.4% year over year. This upside was driven by an improvement in the operating ratio (operating expenses as a percentage of revenues) on the back of higher revenues.
Revenues at Old Dominion, currently a Zacks #2 Ranked stock, came in at $1400 million, surpassing the Zacks Consensus Estimate of $1,360.3 million and increasing 32.3% year over year. The uptick was backed by a 13.7% increase in LTL (Less-Than-Truckload) tons and a 15.7% rise in LTL revenue per hundredweight. Shares of Old Dominion have jumped 74.9% over the past year.
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What Awaits ZIM Integrated Shipping (ZIM) in Q3 Earnings?
ZIM Integrated Shipping Services (ZIM - Free Report) is slated to release third-quarter 2021 results on Nov 17, before market open.
The Zacks Consensus Estimate for third-quarter earnings has been stable at $9.20 per share over the past 60 days. The consensus mark for revenues is currently pegged at $2.67 billion.
Against this backdrop, let’s take a look at the factors that might have shaped the company’s September-quarter performance.
With the gradual resumption of economic activities, the world trade picked up the pace, which in turn, is likely to aid the third-quarter results of shipping stocks like ZIM Integrated Shipping. This is because the shipping industry is responsible for transporting an enormous proportion of goods involved in world trade.
Revenues in the to-be-reported quarter are expected to have increased sequentially, driven by improved revenues from containerized cargo, reflecting higher freight rates among other factors.
The positive sentiment surrounding the containership market is a huge positive for ZIM Integrated Shipping and might have aided its top line in the soon-to-be-reported quarter. The containership market is being aided by ramped-up manufacturing activities in Asia besides other factors.
On the flip side, escalated voyage operating expenses, mainly due to increased fuel costs, are likely to have hurt the bottom line in the September quarter.
Earnings Whispers
Our proven model does not predict an earnings beat for ZIM Integrated Shipping 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 a positive surprise. However, that is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: ZIM Integrated Shipping has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ZIM Integrated Shipping has a Zacks Rank #3, currently.
Highlights of Q2 Earnings
ZIM Integrated Shipping’s second-quarter earnings of $7.38 per share surpassed the Zacks Consensus Estimate of $5.71. Total revenues of $2,382 million also surpassed the Zacks Consensus Estimate of $1,907.3 million.
Sectorial Snapshots
Let’s look into some of the already released third-quarter 2021 earnings reports from companies within the Zacks Transportation sector.
GATX Corporation’s (GATX - Free Report) third-quarter 2021 earnings of $1.11 per share surpassed the Zacks Consensus Estimate of $1. Total revenues of $313.5 million inched up approximately 3% year over year, mainly owing to a 3.9% rise in lease revenues to $283.9 million.
Lease revenues contributed 90.6% to the top line. Marine operating revenues at GATX contributed 1.6% to the top line. The balance came from other sources. The stock price has surged 35.1% in the past year. GATX carries a Zacks Rank #2 (Buy) at present.
J.B. Hunt Transportation Services (JBHT - Free Report) reported third-quarter earnings of $1.88 per share, surpassing the Zacks Consensus Estimate of $1.77. Total operating revenues of $3144.8 million outperformed the Zacks Consensus Estimate of $3002.1 million.
The company exited the third quarter with cash and cash equivalents of $529.6 million compared with $313.3 million at the end of 2020. Long-term debt at J.B. Hunt was $944.9 million compared with $1.31 billion at 2020 end. The stock price has soared 52.4% over the past year. J.B. Hunt currently carries a Zacks Rank of 2.
Old Dominion Freight Line’s (ODFL - Free Report) third-quarter 2021 earnings per share of $2.47 outpaced the Zacks Consensus Estimate by 10 cents. The bottom line surged 44.4% year over year. This upside was driven by an improvement in the operating ratio (operating expenses as a percentage of revenues) on the back of higher revenues.
Revenues at Old Dominion, currently a Zacks #2 Ranked stock, came in at $1400 million, surpassing the Zacks Consensus Estimate of $1,360.3 million and increasing 32.3% year over year. The uptick was backed by a 13.7% increase in LTL (Less-Than-Truckload) tons and a 15.7% rise in LTL revenue per hundredweight. Shares of Old Dominion have jumped 74.9% over the past year.