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ZTO Express’ (ZTO - Free Report) third-quarter 2024 earnings of 41 cents per share improved year over year.
Find the latest EPS estimates and surprises on ZacksEarnings Calendar.
Total revenues of $1.52 billion improved year over year.
Detailed Operational Statistics
Revenues from the core express delivery business improved 18.1% year over year, owing to 15.9% growth in parcel volume and a 1.8% increase in unit price. KA revenues, including delivery fees from direct sales organizations established to serve core express KA customers, increased 122.1% as the proportion of higher-valued parcels, such as returned parcels from e-commerce platforms, continued to increase.
Revenues from freight forwarding services grew 0.8% year over year.
Revenues from sales of accessories, largely consisting of sales of thermal paper used for digital waybills' printing, climbed 27.6% year over year. Other revenues were mainly derived from financing services.
ZTO Express (Cayman) Inc. Price, Consensus and EPS Surprise
Gross profit improved 23.2% from the year-ago reported quarter on the back of revenue growth and cost productivity gain. Gross margin rate improved to 31.2% from 29.8% in the year-ago period.
Total operating expenses were RMB493.0 million (US$70.3 million) compared with RMB282.8 million in the year-ago period.
ZTO Express exited the third quarter of 2024 with cash and cash equivalents of RMB11.70billion compared with RMB 10.54 billion at the end of the prior quarter.
ZTO’s 2024 Guidance
ZTO Express updates its 2024 parcel volume guidance in the range of 33.7 billion-33.9 billion. The updated guidance represents an increase of 11.6-12.3% year over year.
Previously, ZTO expected 2024 parcel volumes in the range of 34.73-35.64 billion. The guidance represents an increase of 15%-18% year over year.
ZTO’s Zacks Rank
Currently, ZTO Express carries a Zacks Rank #4 (Sell).
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.
DAL’s 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.
J.B. Hunt Transport Services, Inc.’s(JBHT - Free Report) third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.
JBHT’s total operating revenues of $3.07 billionsurpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. The downfall was caused by 5% and 6% decreases in gross revenue per load in Intermodal (JBI) and Truckload, respectively; declines in load volume of 10% and 6% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services, respectively; and 6% fewer stops in Final Mile Services. These were partially offset by JBI load growth of 5%, which included growth in the transcontinental and eastern networks and a 3% increase in revenue per load in ICS. JBHT’s total operating revenues, excluding fuel surcharge revenues, decreased less than 1% from the year-ago quarter.
United Airlines Holdings, Inc. (UAL - Free Report) posted third-quarter 2024 EPS (excluding 43 cents from non-recurring items) of $3.33, which surpassed the Zacks Consensus Estimate of $3.10. Earnings decreased 8.8% on a year-over-year basis.
UAL’s operating revenues of $14.84 billion beat the Zacks Consensus Estimate of $14.76 billion. The top line increased 2.5% year over year due to upbeat air travel demand. This was driven by a 1.6% rise in passenger revenues (accounting for 91.3% of the top line) to $13.56 billion. Almost 45,559 passengers traveled on UAL flights in the third quarter, up 2.7% year over year.
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ZTO Express Q3 Earnings & Revenues Improve Y/Y, 2024 View Lowered
ZTO Express’ (ZTO - Free Report) third-quarter 2024 earnings of 41 cents per share improved year over year.
Find the latest EPS estimates and surprises on ZacksEarnings Calendar.
Total revenues of $1.52 billion improved year over year.
Detailed Operational Statistics
Revenues from the core express delivery business improved 18.1% year over year, owing to 15.9% growth in parcel volume and a 1.8% increase in unit price. KA revenues, including delivery fees from direct sales organizations established to serve core express KA customers, increased 122.1% as the proportion of higher-valued parcels, such as returned parcels from e-commerce platforms, continued to increase.
Revenues from freight forwarding services grew 0.8% year over year.
Revenues from sales of accessories, largely consisting of sales of thermal paper used for digital waybills' printing, climbed 27.6% year over year. Other revenues were mainly derived from financing services.
ZTO Express (Cayman) Inc. Price, Consensus and EPS Surprise
ZTO Express (Cayman) Inc. price-consensus-eps-surprise-chart | ZTO Express (Cayman) Inc. Quote
Gross profit improved 23.2% from the year-ago reported quarter on the back of revenue growth and cost productivity gain. Gross margin rate improved to 31.2% from 29.8% in the year-ago period.
Total operating expenses were RMB493.0 million (US$70.3 million) compared with RMB282.8 million in the year-ago period.
ZTO Express exited the third quarter of 2024 with cash and cash equivalents of RMB11.70billion compared with RMB 10.54 billion at the end of the prior quarter.
ZTO’s 2024 Guidance
ZTO Express updates its 2024 parcel volume guidance in the range of 33.7 billion-33.9 billion. The updated guidance represents an increase of 11.6-12.3% year over year.
Previously, ZTO expected 2024 parcel volumes in the range of 34.73-35.64 billion. The guidance represents an increase of 15%-18% year over year.
ZTO’s Zacks Rank
Currently, ZTO Express carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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.
DAL’s 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.
J.B. Hunt Transport Services, Inc.’s(JBHT - Free Report) third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.
JBHT’s total operating revenues of $3.07 billionsurpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. The downfall was caused by 5% and 6% decreases in gross revenue per load in Intermodal (JBI) and Truckload, respectively; declines in load volume of 10% and 6% in Integrated Capacity Solutions (ICS) and Dedicated Contract Services, respectively; and 6% fewer stops in Final Mile Services. These were partially offset by JBI load growth of 5%, which included growth in the transcontinental and eastern networks and a 3% increase in revenue per load in ICS. JBHT’s total operating revenues, excluding fuel surcharge revenues, decreased less than 1% from the year-ago quarter.
United Airlines Holdings, Inc. (UAL - Free Report) posted third-quarter 2024 EPS (excluding 43 cents from non-recurring items) of $3.33, which surpassed the Zacks Consensus Estimate of $3.10. Earnings decreased 8.8% on a year-over-year basis.
UAL’s operating revenues of $14.84 billion beat the Zacks Consensus Estimate of $14.76 billion. The top line increased 2.5% year over year due to upbeat air travel demand. This was driven by a 1.6% rise in passenger revenues (accounting for 91.3% of the top line) to $13.56 billion. Almost 45,559 passengers traveled on UAL flights in the third quarter, up 2.7% year over year.