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Against this backdrop, let's discuss the factors likely to have influenced Global Ship Lease's December quarter performance.
The prevailing bullish sentiment in the containership market stands as a significant financial boon for GSL and is likely to have caused a surge in its top-line performance for the to-be-reported quarter. The heightened fleet utilization, concurrent with the gradual resumption of economic activities and an uptick in global trade, is expected to have positively impacted GSL’s performance.
Moreover, favorable container rates are expected to have bolstered the company's revenue stream. Per the Zacks Consensus Estimate, fourth-quarter 2023 revenues are forecasted at $171.54 million, implying a 3.95% increase from the actuals in the fourth quarter of 2022.
The dip in oil prices and resulting lower fuel expenses are also expected to have positively impacted the bottom-line performance in the soon-to-be-reported quarter. The Zacks Consensus Estimate for earnings has remained steady at $2.34 per share in the past 90 days. Conversely, challenges in the supply chain are likely to have adversely affected GSL's overall performance.
What Does the Zacks Model Say?
Our proven model does not conclusively predict that Global Ship Lease will beat earnings this time. 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: Global Ship Lease has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimates are both pegged at $2.34. 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. However, earnings 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.
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What's in Store for Global Ship Lease (GSL) in Q4 Earnings?
Global Ship Lease (GSL - Free Report) is scheduled to release fourth-quarter 2023 results on Mar 4 before market open.
GSL has consistently outperformed Zacks Consensus Estimates in each of the last four quarters, boasting an average positive surprise of 8.02%.
Global Ship Lease, Inc. Price and EPS Surprise
Global Ship Lease, Inc. price-eps-surprise | Global Ship Lease, Inc. Quote
Against this backdrop, let's discuss the factors likely to have influenced Global Ship Lease's December quarter performance.
The prevailing bullish sentiment in the containership market stands as a significant financial boon for GSL and is likely to have caused a surge in its top-line performance for the to-be-reported quarter. The heightened fleet utilization, concurrent with the gradual resumption of economic activities and an uptick in global trade, is expected to have positively impacted GSL’s performance.
Moreover, favorable container rates are expected to have bolstered the company's revenue stream. Per the Zacks Consensus Estimate, fourth-quarter 2023 revenues are forecasted at $171.54 million, implying a 3.95% increase from the actuals in the fourth quarter of 2022.
The dip in oil prices and resulting lower fuel expenses are also expected to have positively impacted the bottom-line performance in the soon-to-be-reported quarter. The Zacks Consensus Estimate for earnings has remained steady at $2.34 per share in the past 90 days. Conversely, challenges in the supply chain are likely to have adversely affected GSL's overall performance.
What Does the Zacks Model Say?
Our proven model does not conclusively predict that Global Ship Lease will beat earnings this time. 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: Global Ship Lease has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimates are both pegged at $2.34. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Global Ship Lease currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Q4 Performance of Some Transportation Stocks
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. However, earnings 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.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.