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SBLK has an impressive earnings surprise history, having surpassed the consensus estimate in two of the last four quarters, missing twice, the average beat being 6.5%.
Against this backdrop, let’s check out the factors expected to have influenced Star Bulk’s September-quarter performance.
Supply-chain disruptions are likely to dampen this shipping company’s results.
Weaker market conditions might have hurt voyage revenues. The softness is also likely to have dented Time charter equivalent revenues in the quarter under review.
The Zacks Consensus Estimate for quarterly revenues has plunged 47.5% year over year. The Zacks Consensus Estimate for third-quarter 2023 earnings has also decreased 87.2% year over year.
However, continued fleet expansion (including cargo fleet) initiatives are likely to have driven the company’s performance.
Earnings Whispers
Our proven model does not predict an earnings beat for Star Bulk 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: Star Bulk has an Earnings ESP of -21.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Star Bulk carries a Zacks Rank #2, currently.
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 carries a Zacks Rank of 3. 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 numbers 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
Star Bulk (SBLK) Gears Up for Q3 Earnings: What's in Store?
Star Bulk Carriers (SBLK - Free Report) is scheduled to report third-quarter 2023 results on Nov 13 after market close.
SBLK has an impressive earnings surprise history, having surpassed the consensus estimate in two of the last four quarters, missing twice, the average beat being 6.5%.
Against this backdrop, let’s check out the factors expected to have influenced Star Bulk’s September-quarter performance.
Star Bulk Carriers Corp. Price and EPS Surprise
Star Bulk Carriers Corp. price-eps-surprise | Star Bulk Carriers Corp. Quote
Supply-chain disruptions are likely to dampen this shipping company’s results.
Weaker market conditions might have hurt voyage revenues. The softness is also likely to have dented Time charter equivalent revenues in the quarter under review.
The Zacks Consensus Estimate for quarterly revenues has plunged 47.5% year over year. The Zacks Consensus Estimate for third-quarter 2023 earnings has also decreased 87.2% year over year.
However, continued fleet expansion (including cargo fleet) initiatives are likely to have driven the company’s performance.
Earnings Whispers
Our proven model does not predict an earnings beat for Star Bulk 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: Star Bulk has an Earnings ESP of -21.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Star Bulk carries a Zacks Rank #2, currently.
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 carries a Zacks Rank of 3. 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 numbers 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.