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What's Ahead for Eagle Bulk Shipping's (EGLE) Q2 Earnings?
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Eagle Bulk Shipping Inc. is scheduled to report second-quarter 2022 results on Aug 4, after market close.
Let’s see how things are shaping up for Eagle Bulk Shipping this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Eagle Bulk Shipping’s second-quarter 2022 revenues is pegged at $140.92 million, indicating 33.8% growth year over year. The top line is likely to have benefited from higher charter rates backed by market recovery and increased demand for drybulk products.
On the flip side, higher bunker expenses as a result of increased fuel prices and higher vessel operating expenses due to higher crew expenses might bother Eagle Bulk Shipping’s bottom line. The Zacks Consensus Estimate for EGLE’s second-quarter 2022 earnings has been revised downward by 3.5% in the past 90 days. The company also has an unimpressive earnings surprise history, having lagged the Zacks Consensus Estimate in two of the preceding four quarters, the average miss being 2.87%.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Eagle Bulk 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 an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Eagle Bulk Shipping has an Earnings ESP of 0.00% and a Zacks Rank #3.
Investors interested in the broader Transportation sector can consider stocks like Werner Enterprises (WERN - Free Report) and International Seaways (INSW - Free Report) , as these stocks possess the right combination of elements to beat estimates this reporting cycle.
Werner has an Earnings ESP of +1.42% and a Zacks Rank #3 at present. WERN will release second-quarter 2022 results on Aug 3.
Werner’s efforts to reward its shareholders through dividends and share buybacks are impressive. Improvement in the freight scenario is aiding performances of the Logistics and Truckload Transportation Services segments.
International Seaways has an Earnings ESP of +27.57% and is currently a #2 Ranked player. INSW will release second-quarter 2022 results on Aug 9.
International Seaways provides energy transportation services for crude oil and petroleum products. This tanker company owns and operates a fleet including ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers.
Image: Bigstock
What's Ahead for Eagle Bulk Shipping's (EGLE) Q2 Earnings?
Eagle Bulk Shipping Inc. is scheduled to report second-quarter 2022 results on Aug 4, after market close.
Let’s see how things are shaping up for Eagle Bulk Shipping this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Eagle Bulk Shipping’s second-quarter 2022 revenues is pegged at $140.92 million, indicating 33.8% growth year over year. The top line is likely to have benefited from higher charter rates backed by market recovery and increased demand for drybulk products.
On the flip side, higher bunker expenses as a result of increased fuel prices and higher vessel operating expenses due to higher crew expenses might bother Eagle Bulk Shipping’s bottom line. The Zacks Consensus Estimate for EGLE’s second-quarter 2022 earnings has been revised downward by 3.5% in the past 90 days. The company also has an unimpressive earnings surprise history, having lagged the Zacks Consensus Estimate in two of the preceding four quarters, the average miss being 2.87%.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Eagle Bulk 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 an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Eagle Bulk Shipping has an Earnings ESP of 0.00% and a Zacks Rank #3.
Eagle Bulk Shipping Inc. Price and EPS Surprise
Eagle Bulk Shipping Inc. price-eps-surprise | Eagle Bulk Shipping Inc. Quote
Stocks to Consider
Investors interested in the broader Transportation sector can consider stocks like Werner Enterprises (WERN - Free Report) and International Seaways (INSW - Free Report) , as these stocks possess the right combination of elements to beat estimates this reporting cycle.
Werner has an Earnings ESP of +1.42% and a Zacks Rank #3 at present. WERN will release second-quarter 2022 results on Aug 3.
Werner’s efforts to reward its shareholders through dividends and share buybacks are impressive. Improvement in the freight scenario is aiding performances of the Logistics and Truckload Transportation Services segments.
International Seaways has an Earnings ESP of +27.57% and is currently a #2 Ranked player. INSW will release second-quarter 2022 results on Aug 9.
International Seaways provides energy transportation services for crude oil and petroleum products. This tanker company owns and operates a fleet including ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.