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The Zacks Consensus Estimate for GOGL’s fourth-quarter 2022 earnings has remained stable at 15 cents per share in the past 60 days. The Zacks Consensus Estimate for December-quarter revenues has declined 53.88% from fourth-quarter 2021 actuals.
Against this backdrop, let’s look at the factors that are expected to have impacted Golden Ocean’s December-quarter performance.
We expect vessel operating expenses to have been high in the to-be-reported quarter. This is likely to have dented GOGL’s bottom-line performance in the December quarter. Costs are most likely to have shot up due to increased crew expenses and elevated fuel expenses.
Moreover, supply-chain disruptions and weakness pertaining to Dry bulk demand due to below par iron ore and grain shipments are likely to have dampened this shipping company’s results. Softening of Dry bulk rates is expected to be reflected in the to-be-reported quarter’s results. On a brighter note, continued fleet expansion initiatives are likely to have aided the company’s performance.
Earnings Whispers
Our proven model does not predict an earnings beat for Golden Ocean 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, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Golden Ocean 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: Golden Ocean carries a Zacks Rank #3, currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, since our model shows that these have the right combination of elements to beat on their fourth-quarter 2022 earnings.
Expeditors International of Washington (EXPD - Free Report) currently has an Earnings ESP of +2.66% and a Zacks Rank of 3. EXPD will release fourth-quarter 2022 results on Feb 21.
The company has a current Zacks Consensus Estimate for earnings of $1.88 per share, which has been revised 8.67% upward in the past 60 days. EXPD has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 22.1%.
Copa Holdings (CPA - Free Report) currently has an Earnings ESP of +1.43% and flaunts a Zacks Rank #1. CPA will release fourth-quarter 2022 results on Feb 15.
We expect Copa’s fourth-quarter performance to have been aided by upbeat air-travel demand. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 48.95%.
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Golden Ocean (GOGL) to Report Q4 Earnings: What's in Store?
Golden Ocean Group (GOGL - Free Report) is scheduled to report fourth-quarter 2022 results on Feb 16, before market open.
The Zacks Consensus Estimate for GOGL’s fourth-quarter 2022 earnings has remained stable at 15 cents per share in the past 60 days. The Zacks Consensus Estimate for December-quarter revenues has declined 53.88% from fourth-quarter 2021 actuals.
Against this backdrop, let’s look at the factors that are expected to have impacted Golden Ocean’s December-quarter performance.
We expect vessel operating expenses to have been high in the to-be-reported quarter. This is likely to have dented GOGL’s bottom-line performance in the December quarter. Costs are most likely to have shot up due to increased crew expenses and elevated fuel expenses.
Moreover, supply-chain disruptions and weakness pertaining to Dry bulk demand due to below par iron ore and grain shipments are likely to have dampened this shipping company’s results. Softening of Dry bulk rates is expected to be reflected in the to-be-reported quarter’s results. On a brighter note, continued fleet expansion initiatives are likely to have aided the company’s performance.
Earnings Whispers
Our proven model does not predict an earnings beat for Golden Ocean 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, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Golden Ocean 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: Golden Ocean carries a Zacks Rank #3, currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, since our model shows that these have the right combination of elements to beat on their fourth-quarter 2022 earnings.
Expeditors International of Washington (EXPD - Free Report) currently has an Earnings ESP of +2.66% and a Zacks Rank of 3. EXPD will release fourth-quarter 2022 results on Feb 21.
The company has a current Zacks Consensus Estimate for earnings of $1.88 per share, which has been revised 8.67% upward in the past 60 days. EXPD has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 22.1%.
Copa Holdings (CPA - Free Report) currently has an Earnings ESP of +1.43% and flaunts a Zacks Rank #1. CPA will release fourth-quarter 2022 results on Feb 15.
We expect Copa’s fourth-quarter performance to have been aided by upbeat air-travel demand. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 48.95%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.