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What Lies Ahead for GasLog Partners (GLOP) in Q4 Earnings?
GasLog Partners (GLOP - Free Report) is scheduled to report fourth-quarter 2022 results on Jan 26, before market open.
The partnership’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one), the average beat being 40.46%.
The Zacks Consensus Estimate for fourth-quarter earnings per unit has remained flat at 72 cents over the past 60 days.
Against this backdrop, let’s discuss the factors that might have impacted GasLog Partners’ performance in the December quarter.
We expect GasLog Partners’ performance in the to-be-reported quarter to have been aided by the recovery in the overall shipping market as economic activities pick up the pace with the easing of COVID-related restrictions.
More specifically, GLOP's fourth-quarter 2022 revenues are likely to have benefited from growth in revenues from vessels operating in the spot market and an improvement of the LNG shipping spot and term market.
Although economic activities picked up from the pandemic gloom, supply-chain disruptions continue to dent shipping stocks like GasLog. Increased operating costs are also limiting bottom-line growth. Costs are likely to have been steep in fourth-quarter 2022 at GLOP due to supply-chain troubles.
The spike in fuel costs is also flaring up the operating expenses of the industry players.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for GasLog 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.
GasLog has an Earnings ESP of 0.00% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, since our model shows that these stocks have the right combination of elements to beat on their fourth-quarter 2022 earnings.
JetBlue Airways (JBLU - Free Report) has an Earnings ESP of +6.77% and a Zacks Rank #3. JBLU will release results on Jan 26.
We expect upbeat air-travel demand to have aided JBLU’s fourth-quarter performance. However, high costs may act as dampener.
Norfolk Southern Corporation (NSC - Free Report) has an Earnings ESP of +1.33% and a Zacks Rank #3. NSC will release results on Jan 25.
We expect the upbeat demand scenario to have aided NSC’s fourth-quarter performance. However, high fuel costs may act as dampener.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.