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FLEX LNG (FLNG) to Report Q1 Earnings: What's in Store?
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FLEX LNG (FLNG - Free Report) is scheduled to release first-quarter 2023 earnings on May 16.
The shipping company’s earnings surpassed the Zacks Consensus Estimate one in the last two quarters and missed on the other occasion.
The consensus estimate for first-quarter earnings has remained stable at 74 cents per share over the past seven days.
Against this backdrop, let’s delve into the factors that might have impacted FLEX LNG’s March-quarter performance.
We expect the upbeat demand for liquefied natural gas (LNG) to have aided FLEX LNG’s performance in the to-be-reported quarter. The elevated levels of inflation raised oil and natural gas prices. Moreover, amid the prolonged Russia-Ukraine war, Europe is likely to seek gas supplies outside Russia. This is expected to drive demand for LNG vessels.
On the flip side, FLNG’s performance 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 raised total expenses.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for FLEX LNG 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.
Earnings ESP: FLNG 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.
Q1 Performance of Some Other Transportation Companies
Norfolk Southern Corporation’s (NSC - Free Report) first-quarter 2023 earnings (excluding $1.28 from non-recurring items) of $3.32 per share beat the Zacks Consensus Estimate of $3.15 and improved 13.3% year over year.
Railway operating revenues were $3,132 million in the quarter under review, beating the Zacks Consensus Estimate of $3,099.8 million. NSC’s top line increased 7.5% year over year, with all key segments, including merchandise and coal, registering improvements in revenues. Total revenue per unit rose 8% year over year, driven by higher fuel surcharges and pricing. Income from railway operations climbed 1% year over year to $1,098 million.
CSX Corporation’s (CSX - Free Report) first-quarter 2023 earnings of 48 cents per share beat the Zacks Consensus Estimate of 42 cents and improved 23.1% year over year.
Total revenues of $3,706 million outperformed the Zacks Consensus Estimate of $3,599.1 million. CSX’s top line increased 9% year over year on the back of solid volume growth in merchandise and coal, higher fuel surcharge, and pricing gains. Overall revenues per unit increased 9%.
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FLEX LNG (FLNG) to Report Q1 Earnings: What's in Store?
FLEX LNG (FLNG - Free Report) is scheduled to release first-quarter 2023 earnings on May 16.
The shipping company’s earnings surpassed the Zacks Consensus Estimate one in the last two quarters and missed on the other occasion.
The consensus estimate for first-quarter earnings has remained stable at 74 cents per share over the past seven days.
Against this backdrop, let’s delve into the factors that might have impacted FLEX LNG’s March-quarter performance.
We expect the upbeat demand for liquefied natural gas (LNG) to have aided FLEX LNG’s performance in the to-be-reported quarter. The elevated levels of inflation raised oil and natural gas prices. Moreover, amid the prolonged Russia-Ukraine war, Europe is likely to seek gas supplies outside Russia. This is expected to drive demand for LNG vessels.
On the flip side, FLNG’s performance 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 raised total expenses.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for FLEX LNG 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.
Earnings ESP: FLNG 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: FLEX LNG carries a Zacks Rank of 2, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Q1 Performance of Some Other Transportation Companies
Norfolk Southern Corporation’s (NSC - Free Report) first-quarter 2023 earnings (excluding $1.28 from non-recurring items) of $3.32 per share beat the Zacks Consensus Estimate of $3.15 and improved 13.3% year over year.
Railway operating revenues were $3,132 million in the quarter under review, beating the Zacks Consensus Estimate of $3,099.8 million. NSC’s top line increased 7.5% year over year, with all key segments, including merchandise and coal, registering improvements in revenues. Total revenue per unit rose 8% year over year, driven by higher fuel surcharges and pricing. Income from railway operations climbed 1% year over year to $1,098 million.
CSX Corporation’s (CSX - Free Report) first-quarter 2023 earnings of 48 cents per share beat the Zacks Consensus Estimate of 42 cents and improved 23.1% year over year.
Total revenues of $3,706 million outperformed the Zacks Consensus Estimate of $3,599.1 million. CSX’s top line increased 9% year over year on the back of solid volume growth in merchandise and coal, higher fuel surcharge, and pricing gains. Overall revenues per unit increased 9%.