U.S. markets open in 5 hours 45 minutes
  • S&P Futures

    4,263.25
    +8.50 (+0.20%)
     
  • Dow Futures

    34,427.00
    +46.00 (+0.13%)
     
  • Nasdaq Futures

    14,150.25
    +25.50 (+0.18%)
     
  • Russell 2000 Futures

    2,326.70
    +3.10 (+0.13%)
     
  • Crude Oil

    71.06
    +0.18 (+0.25%)
     
  • Gold

    1,868.80
    +2.90 (+0.16%)
     
  • Silver

    27.83
    -0.21 (-0.75%)
     
  • EUR/USD

    1.2149
    +0.0027 (+0.22%)
     
  • 10-Yr Bond

    1.5010
    0.0000 (0.00%)
     
  • Vix

    16.28
    +0.63 (+4.03%)
     
  • GBP/USD

    1.4117
    +0.0009 (+0.06%)
     
  • USD/JPY

    109.9950
    -0.0660 (-0.06%)
     
  • BTC-USD

    40,228.78
    +158.31 (+0.40%)
     
  • CMC Crypto 200

    1,010.60
    +41.76 (+4.31%)
     
  • FTSE 100

    7,181.57
    +34.89 (+0.49%)
     
  • Nikkei 225

    29,441.30
    +279.50 (+0.96%)
     

Factors to Know Ahead of Global Ship Lease (GSL) Q1 Earnings

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Global Ship Lease GSL is scheduled to release first-quarter 2021 results on May 10, before market open.

The shipping company has a stellar surprise record as its earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average being 27.5%.

Moreover, the Zacks Consensus Estimate for first-quarter earnings has been revised 25.6% upward over the past 90 days.

Global Ship Lease, Inc. Price and EPS Surprise

Global Ship Lease, Inc. Price and EPS Surprise
Global Ship Lease, Inc. Price and EPS Surprise

Global Ship Lease, Inc. price-eps-surprise | Global Ship Lease, Inc. Quote

Aspects Likely to Impact Q1 Results

We expect Global Ship Lease’s first-quarter bottom-line performance to have been affected by higher vessel operating expenses, mainly due to additional ownership days. Moreover, coronavirus-induced supply-chain disruptions and the resultant delays in crew replacement as well as the delivery of spares are likely to have dented this shipping company’s first quarter performance.

However, the wave of optimism surrounding the containership market is likely to have aided the company’s first-quarter performance. High container rates are likely to have boosted the top line. The already high rates were further pushed up by the Suez Canal congestion in March-end. The incident also tightened containership supply and is likely to get partially reflected in the results.

What Does the Zacks Model Say?

Our proven model does not conclusively predict an earnings beat for Global Ship Lease 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, which is not the case here as shown below. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings ESP: Global Ship Lease has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate of 49 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Global Ship Lease carries a Zacks Rank #3, currently.

Highlights of Q4 Earnings

In the last reported quarter, Global Ship Lease’s earnings of 38 cents per share edged past the Zacks Consensus Estimate by a penny. Quarterly revenues of $70 million too surpassed the Zacks Consensus Estimate of $68 million.

Stocks to Consider

Investors interested in the broader Transportation sector may consider Eagle Bulk Shipping EGLE, Euronav NV EURN and GasLog LP GLOG as these stocks possess the right combination of elements to beat on earnings this reporting cycle.

Eagle Bulk has an Earnings ESP of +64.52% and a Zacks Rank of 1, currently.

Euronav has an Earnings ESP of +7.14% and a Zacks Rank #3, currently.

GasLog has an Earnings ESP of +20.69% and a Zacks Rank #2 at present.

Each of the companies will release first-quarter 2021 results on May 6.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Eagle Bulk Shipping Inc. (EGLE) : Free Stock Analysis Report

Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report

GasLog LP. (GLOG) : Free Stock Analysis Report

Euronav NV (EURN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research