What's in Store for C.H. Robinson (CHRW) in Q4 Earnings?
C.H. Robinson Worldwide CHRW is scheduled to report fourth-quarter 2023 results on Jan 31, after market close.
C.H. Robinson has underperformed the Zacks Consensus Estimate in two of the preceding four quarters, met once and beat in the remaining occasion, the average miss being 6.06%.
Let’s see how things have shaped up for C.H. Robinson this earnings season.
C.H. Robinson Worldwide, Inc. Price and EPS Surprise
C.H. Robinson Worldwide, Inc. price-eps-surprise | C.H. Robinson Worldwide, Inc. Quote
Q4 Expectations
The Zacks Consensus Estimate for C.H. Robinson’s fourth-quarter 2023 revenues is pegged at $4.37 billion, indicating a 13.7% decline from a year ago. The top line is likely to have been weighed down by lower pricing in CHRW’s ocean and truckload services.
Our estimate for North American Surface Transportation’s fourth-quarter revenues indicates a 12.8% decrease from a year ago. Lower truckload pricing, reflecting softening freight demand, might have affected segmental revenues.
Our estimate for Global Forwarding’s fourrth-quarter revenues predicts a 28.1% plunge from the year-ago figure. The downside is expected to have been caused by lower pricing in CHRW’s ocean services.
However, a decline in operating expenses, primarily due to a fall in personnel expenses, and selling, general and administrative expenses, might have aided C.H. Robinson’s bottom line in the fourth quarter. The Zacks Consensus Estimate for CHRW’s fourth-quarter 2023 earnings is pegged at 80 cents, suggesting a 22.33% plunge from the year-ago levels.
We estimate All Other and Corporate (Robinson Fresh, Managed Services and Other Surface Transportation) revenues for the fourth quarter to jump 9.4% from the year-ago level.
What Our Model Says
Our proven model predicts an earnings beat for C.H. Robinson 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. That’s exactly the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
C.H. Robinson has an Earnings ESP of +0.91% and a Zacks Rank #3.
Highlights of Q3
C.H. Robinson third-quarter 2023 earnings of 84 cents per share beat the Zacks Consensus Estimate of 82 cents but declined 52.8% year over year. Total revenues of $4,341 million lagged the Zacks Consensus Estimate of $4,370 million and decreased 27.8% year over year owing to lower pricing in the company’s ocean and truckload services.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these, too, have the right combination of elements to beat on their fourth-quarter 2023 earnings.
American Airlines Group Inc. AAL has an Earnings ESP of +43.10% and a Zacks Rank #2. AAL will release results on Jan 25.
The Zacks Consensus Estimate for AAL’s fourth-quarter 2023 earnings has been revised upward by more than 100% in the past 90 days. AAL delivered a trailing four-quarter earnings surprise of 23.83%, on average.
Copa Holdings, S.A. CPA has an Earnings ESP of +1.47% and sports a Zacks Rank #1. CPA will release results on Feb 7. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CPA’s fourth-quarter 2023 earnings has been revised upward by 5.1% in the past 90 days. CPA delivered a trailing four-quarter earnings surprise of 16.81%, on average.
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB, has an Earnings ESP of +0.85% and a Zacks Rank #2. WAB will release results on Feb 14.
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days.
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C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
Westinghouse Air Brake Technologies Corporation (WAB) : Free Stock Analysis Report
