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Euroseas's (ESEA) to Report Q3 Earnings: What's in the Offing?

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·4 min read
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Euroseas Ltd. ESEA is slated to release third-quarter 2021 results on Nov 16, before market open.

The Zacks Consensus Estimate for third-quarter earnings has been stable at $1.52 per share in the past 60 days. The company has a negative earnings surprise of 83.7% (surpassing the Zacks Consensus Estimate once and missing thrice).

Euroseas Ltd. Price and EPS Surprise

Euroseas Ltd. Price and EPS Surprise
Euroseas Ltd. Price and EPS Surprise

Euroseas Ltd. price-eps-surprise | Euroseas Ltd. Quote

Against this backdrop, let’s take a look at the factors that might have shaped the company’s September-quarter performance.

Revenues in the to-be-reported quarter are expected to have increased sequentially, driven by improved average charter rates of the company’s vessels, among other factors. The Zacks Consensus Estimate for third-quarter revenues is pegged at $24.4 million, up 89.6% from third-quarter 2020 actuals.

Time charter equivalent rate might have increased in the to-be-reported quarter, owing to the betterment in the revenue scenario. Higher revenues are likely to have boosted operating income in the September quarter.

However, results might have been hurt by escalated expenses (increased crewing costs for vessels, increased supply of stores, increase in hull and machinery insurance premiums) resulting from difficulties in crew rotation due to COVID-19 led restrictions.

Earnings Whispers

Our proven model does not predict an earnings beat for Euroseas 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 a positive surprise. However, that is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP: Euroseas has an Earnings ESP of 0.00%. The Most Accurate Estimate is in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Euroseas has a Zacks Rank #2, currently.

Highlights of Q2 Earnings

Euroseas’s second-quarter earnings of $1.12 per share surpassed the Zacks Consensus Estimate of 88 cents. However, total revenues of $19 million missed the Zacks Consensus Estimate of $20 million.

Sectorial Snapshots

Let’s look into some of the already released third-quarter 2021 earnings reports from companies within the Zacks Transportation sector.

GATX Corporation’s GATX third-quarter 2021 earnings of $1.11 per share surpassed the Zacks Consensus Estimate of $1. Total revenues of $313.5 million inched up approximately 3% year over year, mainly owing to a 3.9% rise in lease revenues to $283.9 million.

Lease revenues contributed 90.6% to the top line. Marine operating revenues at GATX contributed 1.6% to the top line. The balance came from other sources. The stock has surged 32.9% in the past year. GATX carries a Zacks Rank #2 (Buy), at present.

J.B. Hunt Transportation Services JBHT reported third-quarter earnings of $1.88 per share, surpassing the Zacks Consensus Estimate of $1.77. Total operating revenues of $3144.8 million outperformed the Zacks Consensus Estimate of $3002.1 million.

The company exited the third quarter with cash and cash equivalents of $529.6 million compared with $313.3 million at the end of 2020. Long-term debt at J.B. Hunt was $944.9 million compared with $1.31 billion at 2020 end. The stock has soared 52.1% in the past year. J.B. Hunt currently carries a Zacks Rank of 2.

Old Dominion Freight Line’s ODFL third-quarter 2021 earnings per share of $2.47 outpaced the Zacks Consensus Estimate by 10 cents. The bottom line surged 44.4% year over year. The upside was driven by an improvement in the operating ratio (operating expenses, as a percentage of revenues) on the back of higher revenues.

Revenues at Old Dominion, currently a Zacks #2 Ranked stock, came in at $1400 million. The top line surpassed the Zacks Consensus Estimate of $1,360.3 million and rose 32.3% year over year. The uptick was backed by a 13.7% increase in LTL (Less-Than-Truckload) tons and a 15.7% rise in LTL revenue per hundredweight. Shares of Old Dominion have soared 72.4% in the past year.


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J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report

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Euroseas Ltd. (ESEA) : Free Stock Analysis Report

GATX Corporation (GATX) : Free Stock Analysis Report

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