What's in Store for Pangaea Logistics (PANL) in Q2 Earnings?
Pangaea Logistics PANL is slated to release second-quarter 2022 results on Aug 9, after market close.
Pangaea Logistics’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average being 27.92%. The Zacks Consensus Estimate for second-quarter earnings has been stable at 37 cents over the past 60 days.
Against this backdrop, let’s examine the factors that are likely to have impacted PANL’s June-quarter performance.
We expect Pangaea Logistics’ second-quarter bottom-line result to take a hit from escalated charter hire and voyage expenses. With oil price rising, fuel costs are shooting up. This, in turn, might have flared up the operating costs in the to-be-reported quarter. Moreover, supply-chain-induced operational disruptions are likely to have negatively impacted this shipping company’s performance in the June quarter.
However, the bullish sentiment surrounding the dry bulk market is a huge blessing for Pangaea Logistics and is likely to have boosted its top line in the soon-to-be-reported quarter. Revenues are likely to have increased in the to-be-reported quarter owing to an uptick in the average time charter equivalent rates. .
What Does the Zacks Model Say?
Our proven model does not predict an earnings beat for Pangaea Logistics 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: Pangaea Logistics has an Earnings ESP of 0.00% as 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: Pangaea Logistics carries a Zacks Rank #3, currently.
Highlights of Q1 Earnings
Pangaea Logistics’ first-quarter 2022 earnings per share (excluding 10 cents from non-recurring items) of 35 cents beat the Zacks Consensus Estimate of 32 cents. The bottom line surged in excess of 100% year over year. Moreover, revenues of $192 million fell short of the Zacks Consensus Estimate of $193 million.
Performances of Some Transportation Companies in Q2
J.B. Hunt Transport Services, Inc. JBHT reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate. JBHT’s quarterly earnings of $2.42 per share surpassed the Zacks Consensus Estimate of $1.61 and improved 50.3% year over year.
JBHT’s total operating revenues of $3,837.53 million also outperformed the Zacks Consensus Estimate of $2,908.37 million. The top line jumped 32% year over year on the back of strength across all segments. JBHT’s total operating revenues, excluding fuel surcharges, rose 21.2% year over year.
CSX Corporation CSX reported better-than-expected second-quarter 2022 results, wherein both earnings and revenues outperformed the Zacks Consensus Estimate.
CSX’s quarterly earnings of 50 cents per share (excluding 4 cents from non-recurring items) beat the Zacks Consensus Estimate of 47 cents and improved 25% year over year.
CSX’s total revenues of $3,815 million outperformed the Zacks Consensus Estimate of $2,990 million. The top line increased 28% year over year on the back of higher revenues in almost all markets, driven by pricing gains, fuel surcharge and contribution from the acquisition of Quality Carriers. CSX’s overall revenues per unit increased 27%.
C.H. Robinson Worldwide’s CHRW second-quarter 2022 earnings of $2.67 per share surpassed the Zacks Consensus Estimate of $1.93. Moreover, the bottom line surged 85.4% year over year. Strong performance of CHRW’s truckload and less-than-truckload businesses aided results.
Total revenues of $6,798.5 million outperformed the Zacks Consensus Estimate of $6,717.7 million. The top line jumped 22.9% year over year owing to favorable pricing across most of CHRW’s services, and higher truckload and ocean volume.
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Pangaea Logistics Solutions Ltd. (PANL) : Free Stock Analysis Report
CSX Corporation (CSX) : Free Stock Analysis Report
J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report
C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
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