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What's in the Cards for Covenant (CVLG) in Q3 Earnings?
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Covenant Logistics Group, Inc. (CVLG - Free Report) is scheduled to report third-quarter 2022 results on Oct 20, after market close.
The Zacks Consensus Estimate for CVLG’s third-quarter 2022 earnings has been revised upward by 29.2% in the past 90 days. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.4%.
Covenant Logistics Group, Inc. Price and EPS Surprise
Let’s see how things are shaping up for Covenant this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Covenant’s third-quarter 2022 revenues is pegged at $296 million, indicating 7.8% growth year over year. The top line is likely to have been aided by higher freight revenues. The Zacks Consensus Estimate for third-quarter freight revenues is pegged at $252 million, indicating 0.8% growth from the year-ago reported figure.
On the flip side, an increase in operating expenses owing to a rise in salaries, wages and related expenses, fuel, operations and maintenance expenses, insurance and depreciation and amortization expense is likely to bother the company’s bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Covenant 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.
Covenant has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Canadian National has an expected earnings growth rate of 20.7% for the current year. CNI delivered a trailing four-quarter earnings surprise of 6.7%, on average.
Canadian National has a long-term earnings growth rate of 11.4%.
Canadian Pacific Railway Limited (CP - Free Report) has an Earnings ESP of +3.81% and a Zacks Rank #3. CP will release results on Oct 26.
Canadian Pacific has an expected earnings growth rate of 12% for the current year.
Canadian Pacific has a long-term earnings growth rate of 9.89%.
United Airlines (UAL - Free Report) has an Earnings ESP of +5.29% and a Zacks Rank #3. UAL will release results on Oct 18.
UAL has an expected earnings growth rate of 103.3% for the current year. UAL delivered a trailing four-quarter earnings surprise of 10.53%, on average.
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What's in the Cards for Covenant (CVLG) in Q3 Earnings?
Covenant Logistics Group, Inc. (CVLG - Free Report) is scheduled to report third-quarter 2022 results on Oct 20, after market close.
The Zacks Consensus Estimate for CVLG’s third-quarter 2022 earnings has been revised upward by 29.2% in the past 90 days. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.4%.
Covenant Logistics Group, Inc. Price and EPS Surprise
Covenant Logistics Group, Inc. price-eps-surprise | Covenant Logistics Group, Inc. Quote
Let’s see how things are shaping up for Covenant this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Covenant’s third-quarter 2022 revenues is pegged at $296 million, indicating 7.8% growth year over year. The top line is likely to have been aided by higher freight revenues. The Zacks Consensus Estimate for third-quarter freight revenues is pegged at $252 million, indicating 0.8% growth from the year-ago reported figure.
On the flip side, an increase in operating expenses owing to a rise in salaries, wages and related expenses, fuel, operations and maintenance expenses, insurance and depreciation and amortization expense is likely to bother the company’s bottom line.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Covenant 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.
Covenant has an Earnings ESP of 0.00% and a Zacks Rank #3.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Canadian National Railway Company (CNI - Free Report) has an Earnings ESP of +0.74% and a Zacks Rank #3. CNI will release results on Oct 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
Canadian National has an expected earnings growth rate of 20.7% for the current year. CNI delivered a trailing four-quarter earnings surprise of 6.7%, on average.
Canadian National has a long-term earnings growth rate of 11.4%.
Canadian Pacific Railway Limited (CP - Free Report) has an Earnings ESP of +3.81% and a Zacks Rank #3. CP will release results on Oct 26.
Canadian Pacific has an expected earnings growth rate of 12% for the current year.
Canadian Pacific has a long-term earnings growth rate of 9.89%.
United Airlines (UAL - Free Report) has an Earnings ESP of +5.29% and a Zacks Rank #3. UAL will release results on Oct 18.
UAL has an expected earnings growth rate of 103.3% for the current year. UAL delivered a trailing four-quarter earnings surprise of 10.53%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.