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The Zacks Consensus Estimate for September-quarter earnings has been stable at $3.01 per share over the past 60 days.
Against this backdrop, let’s unearth the factors likely to have impacted Euroseas’ performance in the to-be-reported quarter.
Bullishness surrounding the containership market is a huge boon for Euroseas and is likely to have boosted its top line in the soon-to-be-reported quarter. Increased fleet utilization with the normalization of economic activities and an uptick in world trade are likely to get reflected in ESEA’s impending results. Favorable container rates are also expected to have driven its top line.
On the flip side, high fuel costs due to an escalation in oil prices are likely to have hurt the bottom-line performance in the quarter under discussion. Vessel operating expenses, including costs of crew, lubricating oil etc., are also expected to have been steep in the quarter to be reorted.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Euroseas 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: Euroseas has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $3.01. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their third-quarter 2023 earnings.
Ardmore Shipping (ASC - Free Report) currently has an Earnings ESP of +4.65% and sports a Zacks Rank of 1. ASC is slated to report third-quarter 2023 results on Nov 7.
We expect Ardmore Shipping’s results to reflect the bullishness surrounding the tanker market, as product tanker rates are currently at healthy levels despite minor hiccups. Also, the normalization of economic activities and an uptick in world trade following the removal of COVID-19-induced restrictions are expected to have boosted ASC’s performance.
GXO Logistics (GXO - Free Report) currently has an Earnings ESP of +1.43% and a Zacks Rank #3. GXO will release results on Nov 7.
The rapid growth of e-commerce, automation and outsourcing should aid GXO’s third-quarter results. The company’s efforts to strengthen its logistics capabilities also bode well.
Image: Bigstock
Euroseas (ESEA) to Post Q3 Earnings: What's in the Offing?
Euroseas (ESEA - Free Report) is slated to release third-quarter 2023 earnings numbers on Nov 9 before market open.
The Zacks Consensus Estimate for September-quarter earnings has been stable at $3.01 per share over the past 60 days.
Against this backdrop, let’s unearth the factors likely to have impacted Euroseas’ performance in the to-be-reported quarter.
Bullishness surrounding the containership market is a huge boon for Euroseas and is likely to have boosted its top line in the soon-to-be-reported quarter. Increased fleet utilization with the normalization of economic activities and an uptick in world trade are likely to get reflected in ESEA’s impending results. Favorable container rates are also expected to have driven its top line.
On the flip side, high fuel costs due to an escalation in oil prices are likely to have hurt the bottom-line performance in the quarter under discussion. Vessel operating expenses, including costs of crew, lubricating oil etc., are also expected to have been steep in the quarter to be reorted.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Euroseas 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: Euroseas has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $3.01. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Euroseas carries a Zacks Rank #3 currently. 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, as our model shows that these have the right combination of elements to beat on their third-quarter 2023 earnings.
Ardmore Shipping (ASC - Free Report) currently has an Earnings ESP of +4.65% and sports a Zacks Rank of 1. ASC is slated to report third-quarter 2023 results on Nov 7.
We expect Ardmore Shipping’s results to reflect the bullishness surrounding the tanker market, as product tanker rates are currently at healthy levels despite minor hiccups. Also, the normalization of economic activities and an uptick in world trade following the removal of COVID-19-induced restrictions are expected to have boosted ASC’s performance.
GXO Logistics (GXO - Free Report) currently has an Earnings ESP of +1.43% and a Zacks Rank #3. GXO will release results on Nov 7.
The rapid growth of e-commerce, automation and outsourcing should aid GXO’s third-quarter results. The company’s efforts to strengthen its logistics capabilities also bode well.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.