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The Zacks Consensus Estimate for fourth-quarter 2023 is currently pegged at an earnings of 44 cents per share, up 2.3% over the past 60 days. Pangaea Logistics has surpassed the Zacks Consensus Estimate for earnings in two of the last four quarters and lagged twice, the average miss being 63.1%.
Pangaea Logistics Solutions Ltd. Price and EPS Surprise
Against this backdrop, let’s delve into the factors likely to have impacted the company’s December-quarter performance.
PANL’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 PANL, have hit the pause button as far as transit through this route is concerned.
Keeping the safety of the crew in mind, PANL is adopting the longer and costlier route around Cape of Good Hope in South Africa rather than through 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 fourth-quarter results of shipping stocks like Pangaea Logistics. This is because the shipping industry is responsible for transporting several goods involved in world trade. The positive sentiment surrounding the dry bulk market is likely to have aided PANL’s fourth-quarter performance.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Pangaea Logistics 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: Pangaea Logistics 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.
Image: Bigstock
What's in Store for Pangaea Logistics (PANL) in Q4 Earnings?
Pangaea Logistics Solutions (PANL - Free Report) is slated to release fourth-quarter 2023 results on Mar 13, after market close.
The Zacks Consensus Estimate for fourth-quarter 2023 is currently pegged at an earnings of 44 cents per share, up 2.3% over the past 60 days. Pangaea Logistics has surpassed the Zacks Consensus Estimate for earnings in two of the last four quarters and lagged twice, the average miss being 63.1%.
Pangaea Logistics Solutions Ltd. Price and EPS Surprise
Pangaea Logistics Solutions Ltd. price-eps-surprise | Pangaea Logistics Solutions Ltd. Quote
Against this backdrop, let’s delve into the factors likely to have impacted the company’s December-quarter performance.
PANL’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 PANL, have hit the pause button as far as transit through this route is concerned.
Keeping the safety of the crew in mind, PANL is adopting the longer and costlier route around Cape of Good Hope in South Africa rather than through 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 fourth-quarter results of shipping stocks like Pangaea Logistics. This is because the shipping industry is responsible for transporting several goods involved in world trade. The positive sentiment surrounding the dry bulk market is likely to have aided PANL’s fourth-quarter performance.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Pangaea Logistics 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: Pangaea Logistics 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: Pangaea Logistics 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.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.