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Cool Company Set to Report Q3 Earnings: What's in the Offing?
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Cool Company (CLCO - Free Report) is slated to release third-quarter 2024 earnings numbers on Nov. 21, before market open.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The Zacks Consensus Estimate for third-quarter 2024 earnings has been unchanged at 39 cents per share in the past 60 days. The consensus estimate for third-quarter 2024 revenues is pegged at $76.93 million.
Image Source: Zacks Investment Research
Earnings Whispers for CLCO
Our proven model does not conclusively predict an earnings beat for CLCO 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. This is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
CLCO has an Earnings ESP of 0.00% and currently carries a Zacks Rank #3.
Factors Likely to Influence CLCO’s Q3 Results
We expect time and voyage charter revenues to have been impressive in the September quarter, owing to full charter coverage and improved drydock performance. Reduced rates on the company’s single variable charter and lower vessel management fees might have hurt total operating revenues in the quarter to be reported.
Fleet expansion initiatives are also commendable. The decrease in fuel costs (oil price was down 14% in the July-September period) is expected to have aided CLCO’s bottom-line performance.
On the contrary, geopolitical instability and environmental regulations are likely to have posed a significant threat to CLCO’s performance in the September quarter, by potentially increasing operating expenses.
Stock to Consider
Here is a stock from the broader Zacks Transportation sector that investors might want to consider, as our model shows that this has the right combination of elements to beat third-quarter 2024 earnings.
The company is scheduled to report third-quarter 2024 earnings on Nov. 20.
ZIM has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate twice in the preceding four quarters and missing twice. The average miss is 0.3%.
Q3 Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.
Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year.
Norfolk Southern Corporation’s (NSC - Free Report) third-quarter 2024 earnings (excluding $1.6 from non-recurring items) of $3.25 per share beat the Zacks Consensus Estimate of $3.10 and increased 22.6% year over year due to lower costs.
Railway operating revenues were $3.05 billion in the quarter under review, lagging the Zacks Consensus Estimate of $3.09 billion. However, the top line increased 2.7% year over year, with the Merchandise and Intermodal segments registering an improvement in revenues.
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Cool Company Set to Report Q3 Earnings: What's in the Offing?
Cool Company (CLCO - Free Report) is slated to release third-quarter 2024 earnings numbers on Nov. 21, before market open.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The Zacks Consensus Estimate for third-quarter 2024 earnings has been unchanged at 39 cents per share in the past 60 days. The consensus estimate for third-quarter 2024 revenues is pegged at $76.93 million.
Earnings Whispers for CLCO
Our proven model does not conclusively predict an earnings beat for CLCO 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. This is not the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
CLCO has an Earnings ESP of 0.00% and currently carries a Zacks Rank #3.
Factors Likely to Influence CLCO’s Q3 Results
We expect time and voyage charter revenues to have been impressive in the September quarter, owing to full charter coverage and improved drydock performance. Reduced rates on the company’s single variable charter and lower vessel management fees might have hurt total operating revenues in the quarter to be reported.
Fleet expansion initiatives are also commendable. The decrease in fuel costs (oil price was down 14% in the July-September period) is expected to have aided CLCO’s bottom-line performance.
On the contrary, geopolitical instability and environmental regulations are likely to have posed a significant threat to CLCO’s performance in the September quarter, by potentially increasing operating expenses.
Stock to Consider
Here is a stock from the broader Zacks Transportation sector that investors might want to consider, as our model shows that this has the right combination of elements to beat third-quarter 2024 earnings.
ZIM Integrated Shipping Services (ZIM - Free Report) has an Earnings ESP of +29.24% and currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to report third-quarter 2024 earnings on Nov. 20.
ZIM has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate twice in the preceding four quarters and missing twice. The average miss is 0.3%.
Q3 Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.
Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year.
Norfolk Southern Corporation’s (NSC - Free Report) third-quarter 2024 earnings (excluding $1.6 from non-recurring items) of $3.25 per share beat the Zacks Consensus Estimate of $3.10 and increased 22.6% year over year due to lower costs.
Railway operating revenues were $3.05 billion in the quarter under review, lagging the Zacks Consensus Estimate of $3.09 billion. However, the top line increased 2.7% year over year, with the Merchandise and Intermodal segments registering an improvement in revenues.