Euroseas ESEA is scheduled to release its third-quarter 2024 earnings numbers on Nov. 20 after market close.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Euroseas has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average beat is 28.7%.
Euroseas Ltd. Price and EPS Surprise
Euroseas Ltd. price-eps-surprise | Euroseas Ltd. Quote
The Zacks Consensus Estimate for ESEA’s soon-to-be-reported quarter’s earnings has been revised upward by 37.1% in the past 60 days to $3.77 per share. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $56.34 million, which indicates a rise of 7.7% from the year-ago levels.
Against this backdrop, let’s unearth the factors likely to have impacted Euroseas’ performance in the to-be-reported quarter.
ESEA's top line in the to-be-reported quarter is expected to have been significantly bolstered by robust demand for containerships, especially for eco-friendly and fuel-efficient vessels. This trend is anticipated to drive higher charter rates, contributing to above-average revenue growth and improved profitability through increased charter income and operational efficiencies.
On the contrary, geopolitical instability and environmental regulations pose a significant threat to Euroseas' performance in the September-end quarter of 2024 by potentially increasing operating expenses.
What Our Model Says About ESEA
Our proven model does not conclusively predict an earnings beat for Euroseas this time. 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, which is not the case here.
ESEA has an Earnings ESP of 0.00% and a Zacks Rank #1 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Highlights of ESEA’s Q2 Results
Euroseas’ second-quarter 2024 earnings per share of $4.92 surpassed the Zacks Consensus Estimate of $2.49 and improved 18% year over year. Revenues of $60.29 million beat the Zacks Consensus Estimate by 22.2% and rose 22.3% year over year.
A Stock to Consider
Here is a stock from the broader Zacks Transportation sector that investors might want to consider, as our model shows that it has the right combination of elements to beat third-quarter 2024 earnings.
ZIM Integrated Shipping Services ZIM has an Earnings ESP of +29.24% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to report third-quarter 2024 earnings on Nov. 20.
ZIM has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate twice in the preceding four quarters and missing twice. The average miss is 0.3%.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL 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.
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.
Norfolk Southern Corporation’s NSC third-quarter 2024 earnings (excluding $1.6 from non-recurring items) of $3.25 per share beat the Zacks Consensus Estimate of $3.10 and increased 22.6% year over year due to lower costs.
Railway operating revenues were $3.05 billion in the quarter under review, lagging the Zacks Consensus Estimate of $3.09 billion. However, the top line increased 2.7% year over year, with the Merchandise and Intermodal segments registering an improvement in revenues.
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