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What's Ahead for Eagle Bulk Shipping's (EGLE) Q3 Earnings?
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Eagle Bulk Shipping Inc. is scheduled to report third-quarter 2022 results on Nov 3, after market close.
EGLE has an impressive surprise history, with its earnings having surpassed the Zacks Consensus Estimate in three of the preceding four quarters (missing the mark in the remaining one). The average beat is 2.63%
Let’s see how things are shaping up for Eagle Bulk Shipping this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Eagle Bulk Shipping’s third-quarter 2022 revenues is pegged at $136.83 million, indicating a 10.6% decline from the year-ago quarter’s reported figure. The top line is likely to have been hurt by supply-chain woes.
Moreover, higher bunker expenses as a result of increased fuel prices and higher vessel operating costs due to higher crew expenses might affect Eagle Bulk Shipping’s bottom line. The Zacks Consensus Estimate for EGLE’s third-quarter 2022 earnings has been revised 5.1% downward over the past 90 days.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Eagle Bulk Shipping 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. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Eagle Bulk Shipping has an Earnings ESP of -7.19% and a Zacks Rank #4 (Sell), currently.
Stocks to Consider
Here are a few stocks worth considering from the broader Zacks Transportation sector, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.
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What's Ahead for Eagle Bulk Shipping's (EGLE) Q3 Earnings?
Eagle Bulk Shipping Inc. is scheduled to report third-quarter 2022 results on Nov 3, after market close.
EGLE has an impressive surprise history, with its earnings having surpassed the Zacks Consensus Estimate in three of the preceding four quarters (missing the mark in the remaining one). The average beat is 2.63%
Eagle Bulk Shipping Inc. Price and EPS Surprise
Eagle Bulk Shipping Inc. price-eps-surprise | Eagle Bulk Shipping Inc. Quote
Let’s see how things are shaping up for Eagle Bulk Shipping this earnings season.
Q3 Expectations
The Zacks Consensus Estimate for Eagle Bulk Shipping’s third-quarter 2022 revenues is pegged at $136.83 million, indicating a 10.6% decline from the year-ago quarter’s reported figure. The top line is likely to have been hurt by supply-chain woes.
Moreover, higher bunker expenses as a result of increased fuel prices and higher vessel operating costs due to higher crew expenses might affect Eagle Bulk Shipping’s bottom line. The Zacks Consensus Estimate for EGLE’s third-quarter 2022 earnings has been revised 5.1% downward over the past 90 days.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Eagle Bulk Shipping 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. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Eagle Bulk Shipping has an Earnings ESP of -7.19% and a Zacks Rank #4 (Sell), currently.
Stocks to Consider
Here are a few stocks worth considering from the broader Zacks Transportation sector, as our model shows that these have the right combination of elements to beat on third-quarter 2022 earnings:
Copa Holdings (CPA - Free Report) has an Earnings ESP of +0.26% and a Zacks Rank #2. CPA will release resultson Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA has an expected earnings growth rate of more than 100% for the current year. CPA delivered a trailing four-quarter earnings surprise of 174.22%, on average.
Air Transport Services (ATSG - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank of 3. ATSG will release results on Nov 3.
The ATSG stock has witnessed an upward revision of 3.8% over the past 90 days. Increased demand for midsize freighters is supporting growth at ATSG.