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TNK has an impressive earnings record with its bottom line having delivered a positive surprise in each of the last four quarters. The average beat is 46.1%.
However, the Zacks Consensus Estimate for third-quarter earnings has been revised 9.5% downward over the past 60 days.
Against this backdrop, let’s delve into the factors that might have impacted Teekay Tankers’ September-quarter performance.
TNK’s performance in the to-be-reported quarter is expected to have been affected by supply-chain disruptions. High operating expenses due to the increased average number of vessels in its fleet are likely to have hurt the bottom line. Steep fuel costs are likely to have flared up total expenses.
However, high tanker rates are likely to have aided the top-line performance. Moreover, with the gradual resumption of economic activities, world trade gained pace, which should aid the third-quarter results of shipping stocks like Teekay Tankers. This is because the shipping industry is responsible for transporting several goods involved in world trade.
Earnings Whispers
Our proven model does not predict an earnings beat for Teekay Tankers 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, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Teekay Tankers has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Teekay Tankers sports a Zacks Rank of 1, currently.
Stocks to Consider
Here are a few stocks worth considering from the broader Zacks Transportation sector, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.
Image: Bigstock
Teekay Tankers (TNK) to Post Q3 Earnings: What's in Store?
Teekay Tankers (TNK - Free Report) is scheduled to release third-quarter 2022 earnings on Nov 3, before market open.
TNK has an impressive earnings record with its bottom line having delivered a positive surprise in each of the last four quarters. The average beat is 46.1%.
Teekay Tankers Ltd. Price and EPS Surprise
Teekay Tankers Ltd. price-eps-surprise | Teekay Tankers Ltd. Quote
However, the Zacks Consensus Estimate for third-quarter earnings has been revised 9.5% downward over the past 60 days.
Against this backdrop, let’s delve into the factors that might have impacted Teekay Tankers’ September-quarter performance.
TNK’s performance in the to-be-reported quarter is expected to have been affected by supply-chain disruptions. High operating expenses due to the increased average number of vessels in its fleet are likely to have hurt the bottom line. Steep fuel costs are likely to have flared up total expenses.
However, high tanker rates are likely to have aided the top-line performance. Moreover, with the gradual resumption of economic activities, world trade gained pace, which should aid the third-quarter results of shipping stocks like Teekay Tankers. This is because the shipping industry is responsible for transporting several goods involved in world trade.
Earnings Whispers
Our proven model does not predict an earnings beat for Teekay Tankers 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, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Teekay Tankers has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Teekay Tankers sports a Zacks Rank of 1, currently.
Stocks to Consider
Here are a few stocks worth considering from the broader Zacks Transportation sector, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Copa Holdings (CPA - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. CPA will release resultson Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.