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's in Store for Teekay Tankers (TNK) in Q4 Earnings?
Read MoreHide Full Article
Teekay Tankers (TNK - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22, before market open.
TNK has an impressive earnings surprise record. Its bottom line surpassed the Zacks Consensus Estimate in three of the last four quarters and missed once. The average beat is 14.1%.
The consensus estimate for fourth-quarter earnings has been revised 5.1% upward to $3.68 per share over the past 60 days.
Against this backdrop, let’s delve into the factors that are likely to have impacted Teekay Tankers’ December-quarter performance.
TNK’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.
The recent attacks by Yemen’s Houthi militants on vessels in Red Sea have disrupted maritime trade. As a result, many shipping companies, including TNK, have hit the pause button as far as transit through this route is concerned.
Keeping the safety of the crew in mind, TNK is adopting the longer and costlier route around Cape of Good Hope in South Africa rather than through the Suez Canal. Reduced container availability due to the Red Sea tensions has resulted in a rise in freight rates. Lower capacity is expected to have boosted earnings.
With the gradual resumption of economic activities, world trade has gained pace, which, in turn, may aid the first-quarter results of shipping stocks like Teekay Tankers. This is because the shipping industry is responsible for transporting several goods involved in world trade.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Teekay Tankers 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: Teekay Tankers 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.
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2023 earnings (excluding $1.88 from non-recurring items) of $1.28 per share comfortably beat the Zacks Consensus Estimate of $1.17. Earnings, however, declined 13.5% on a year-over-year basis due to high labor costs.
Revenues of $14.22 billion surpassed the Zacks Consensus Estimate of $14.07 billion and increased 5.9% on a year-over-year basis, driven by strong holiday-air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $13.66 billion, up 11% year over year.
United Airlines (UAL - Free Report) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
Operating revenues of $13.6 billion beat the Zacks Consensus Estimate of $13.5 billion. The top line increased 9.9% year over year due to upbeat air-travel demand. Cargo revenues fell 14.8% year over year to $402 million. Revenues from other sources jumped 10.6% year over year to $803 million.
J.B. Hunt Transport Services' (JBHT - Free Report) fourth-quarter 2023 earnings per share of $1.47 missed the Zacks Consensus Estimate of $1.74 and declined 23.4% year over year.
Total operating revenues of $3.3 billion surpassed the Zacks Consensus Estimate of $3.2 billion but fell 9.5% year over year. Total operating revenues, excluding fuel surcharge revenues, decreased approximately 6% year over year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
What's in Store for Teekay Tankers (TNK) in Q4 Earnings?
Teekay Tankers (TNK - Free Report) is scheduled to release fourth-quarter 2023 earnings on Feb 22, before market open.
TNK has an impressive earnings surprise record. Its bottom line surpassed the Zacks Consensus Estimate in three of the last four quarters and missed once. The average beat is 14.1%.
Teekay Tankers Ltd. Price and EPS Surprise
Teekay Tankers Ltd. price-eps-surprise | Teekay Tankers Ltd. Quote
The consensus estimate for fourth-quarter earnings has been revised 5.1% upward to $3.68 per share over the past 60 days.
Against this backdrop, let’s delve into the factors that are likely to have impacted Teekay Tankers’ December-quarter performance.
TNK’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.
The recent attacks by Yemen’s Houthi militants on vessels in Red Sea have disrupted maritime trade. As a result, many shipping companies, including TNK, have hit the pause button as far as transit through this route is concerned.
Keeping the safety of the crew in mind, TNK is adopting the longer and costlier route around Cape of Good Hope in South Africa rather than through the Suez Canal. Reduced container availability due to the Red Sea tensions has resulted in a rise in freight rates. Lower capacity is expected to have boosted earnings.
With the gradual resumption of economic activities, world trade has gained pace, which, in turn, may aid the first-quarter results of shipping stocks like Teekay Tankers. This is because the shipping industry is responsible for transporting several goods involved in world trade.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Teekay Tankers 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: Teekay Tankers 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: Teekay Tankers sports a Zacks Rank of 1, currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Q4 Performances of Other Transportation Companies
Delta Air Lines’ (DAL - Free Report) fourth-quarter 2023 earnings (excluding $1.88 from non-recurring items) of $1.28 per share comfortably beat the Zacks Consensus Estimate of $1.17. Earnings, however, declined 13.5% on a year-over-year basis due to high labor costs.
Revenues of $14.22 billion surpassed the Zacks Consensus Estimate of $14.07 billion and increased 5.9% on a year-over-year basis, driven by strong holiday-air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $13.66 billion, up 11% year over year.
United Airlines (UAL - Free Report) reported fourth-quarter 2023 earnings per share (excluding 19 cents from non-recurring items) of $2, which outpaced the Zacks Consensus Estimate of $1.61 but declined 18.7% year over year.
Operating revenues of $13.6 billion beat the Zacks Consensus Estimate of $13.5 billion. The top line increased 9.9% year over year due to upbeat air-travel demand. Cargo revenues fell 14.8% year over year to $402 million. Revenues from other sources jumped 10.6% year over year to $803 million.
J.B. Hunt Transport Services' (JBHT - Free Report) fourth-quarter 2023 earnings per share of $1.47 missed the Zacks Consensus Estimate of $1.74 and declined 23.4% year over year.
Total operating revenues of $3.3 billion surpassed the Zacks Consensus Estimate of $3.2 billion but fell 9.5% year over year. Total operating revenues, excluding fuel surcharge revenues, decreased approximately 6% year over year.