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The Zacks Consensus Estimate for the company’s first-quarter earnings has been revised upward by 37% in the past 60 days. EGLE’s earnings have surpassed the Zacks Consensus Estimate in two of the last four quarters, while missing the same in the other two.
Let’s see how things are shaping up for Eagle Bulk this earnings season.
Favorable demand-supply balance in the dry bulk market is expected to have aided Eagle Bulk’s first-quarter performance. Higher charter hire rates are likely to have boosted the company’s top line. The consensus mark for first-quarter revenues indicates a 92.9% jump from the year-ago reported figure.
However, seasonal softness might have partly hurt performance in the to-be-reported quarter. Escalating voyage expenses due to higher charter hire rates, among other factors, and rise in vessel operating expenses might have dented Eagle Bulk’s bottom line.
What Does the Zacks Model Say?
Our proven Zacks model does not conclusively predict an earnings beat for Eagle 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. However, this is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Eagle Bulk has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $3.96. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eagle Bulk carries a Zacks Rank #2.
Highlights of Q4 Earnings
Eagle Bulk’s fourth-quarter 2022 earnings of $4.28 per share missed the Zacks Consensus Estimate of $5.58. However, total revenues of $161.49 million surpassed the Zacks Consensus Estimate by 5.91%. Both top and bottom lines improved significantly year over year.
Stocks to Consider
Investors interested in the broader Transportation sector may consider Air Lease Corporation (AL - Free Report) and Werner Enterprises (WERN - Free Report) . These companies possess the right combination of elements to beat on earnings in this reporting cycle.
Air Lease has an Earnings ESP of +4.48% and a Zacks Rank #3. The company will release first-quarter 2022 earnings on May 5.
Air Lease’s first-quarter performance is expected to have benefited from steady growth in fleet, increase in cash collections and improved aircraft sales activity. With airline operations steadily recovering, improved lease demand is likely to have boosted the top line.
Werner has an Earnings ESP of +1.51% and a Zacks Rank #3. The company will announce first-quarter 2022 results on May 3.
With upbeat freight demand, strong performances of the Logistics and Truckload Transportation Services segments are expected to have driven Werner’s top line in the first quarter. The acquisition of NEHDS Logistics is also expected to have contributed to top-line growth.
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What's in Store for Eagle Bulk (EGLE) This Earnings Season?
Eagle Bulk Shipping is scheduled to release first-quarter 2022 results on May 5, after market close.
The Zacks Consensus Estimate for the company’s first-quarter earnings has been revised upward by 37% in the past 60 days. EGLE’s earnings have surpassed the Zacks Consensus Estimate in two of the last four quarters, while missing the same in the other two.
Let’s see how things are shaping up for Eagle Bulk this earnings season.
Eagle Bulk Shipping Inc. Price and EPS Surprise
Eagle Bulk Shipping Inc. price-eps-surprise | Eagle Bulk Shipping Inc. Quote
Factors to Note
Favorable demand-supply balance in the dry bulk market is expected to have aided Eagle Bulk’s first-quarter performance. Higher charter hire rates are likely to have boosted the company’s top line. The consensus mark for first-quarter revenues indicates a 92.9% jump from the year-ago reported figure.
However, seasonal softness might have partly hurt performance in the to-be-reported quarter. Escalating voyage expenses due to higher charter hire rates, among other factors, and rise in vessel operating expenses might have dented Eagle Bulk’s bottom line.
What Does the Zacks Model Say?
Our proven Zacks model does not conclusively predict an earnings beat for Eagle 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. However, this is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Eagle Bulk has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $3.96. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Eagle Bulk carries a Zacks Rank #2.
Highlights of Q4 Earnings
Eagle Bulk’s fourth-quarter 2022 earnings of $4.28 per share missed the Zacks Consensus Estimate of $5.58. However, total revenues of $161.49 million surpassed the Zacks Consensus Estimate by 5.91%. Both top and bottom lines improved significantly year over year.
Stocks to Consider
Investors interested in the broader Transportation sector may consider Air Lease Corporation (AL - Free Report) and Werner Enterprises (WERN - Free Report) . These companies possess the right combination of elements to beat on earnings in this reporting cycle.
Air Lease has an Earnings ESP of +4.48% and a Zacks Rank #3. The company will release first-quarter 2022 earnings on May 5.
Air Lease’s first-quarter performance is expected to have benefited from steady growth in fleet, increase in cash collections and improved aircraft sales activity. With airline operations steadily recovering, improved lease demand is likely to have boosted the top line.
Werner has an Earnings ESP of +1.51% and a Zacks Rank #3. The company will announce first-quarter 2022 results on May 3.
With upbeat freight demand, strong performances of the Logistics and Truckload Transportation Services segments are expected to have driven Werner’s top line in the first quarter. The acquisition of NEHDS Logistics is also expected to have contributed to top-line growth.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.