We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What Awaits ZIM Integrated Shipping (ZIM) in Q1 Earnings?
Read MoreHide Full Article
ZIM Integrated Shipping Services (ZIM - Free Report) is slated to release first-quarter 2023 results on May 22, before market open.
The Zacks Consensus Estimate for first-quarter earnings has increased 25% over the past 60 days. ZIM Integrated Shipping, which went public in February 2021, surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters (missed once). The average beat is 14.38%.
Against this backdrop, let’s look at the factors that might have shaped ZIM’s March-quarter performance.
We expect the company’s bottom-line performance to have been hit by escalated voyage operating expenses. High fuel costs are also likely to have played spoilsport.
Supply-chain disruptions, lower shipments and slowdown in freight demand might have dented ZIM’s performance in the quarter under review.
On a brighter note, the positive sentiment surrounding the containership market is a tailwind for ZIM Integrated Shipping and might have aided its top line in the soon-to-be-reported quarter.
Earnings Whispers
Our proven model does not predict an earnings beat for ZIM Integrated Shipping 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.
Earnings ESP: ZIM Integrated Shipping has an Earnings ESP of -120.75%. 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%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
What Awaits ZIM Integrated Shipping (ZIM) in Q1 Earnings?
ZIM Integrated Shipping Services (ZIM - Free Report) is slated to release first-quarter 2023 results on May 22, before market open.
The Zacks Consensus Estimate for first-quarter earnings has increased 25% over the past 60 days. ZIM Integrated Shipping, which went public in February 2021, surpassed the Zacks Consensus Estimate for earnings in three of the last four quarters (missed once). The average beat is 14.38%.
Against this backdrop, let’s look at the factors that might have shaped ZIM’s March-quarter performance.
We expect the company’s bottom-line performance to have been hit by escalated voyage operating expenses. High fuel costs are also likely to have played spoilsport.
Supply-chain disruptions, lower shipments and slowdown in freight demand might have dented ZIM’s performance in the quarter under review.
On a brighter note, the positive sentiment surrounding the containership market is a tailwind for ZIM Integrated Shipping and might have aided its top line in the soon-to-be-reported quarter.
Earnings Whispers
Our proven model does not predict an earnings beat for ZIM Integrated Shipping 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.
Earnings ESP: ZIM Integrated Shipping has an Earnings ESP of -120.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ZIM Integrated Shipping has a Zacks Rank #3, 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%.