Star Bulk Carriers SBLK is scheduled to report third-quarter 2024 results on Nov. 19, after market close.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at 71 cents per share and $342.3 million, respectively.

The earnings estimate for the to-be-reported quarter has declined 2.7% in the past 60 days. The bottom-line projection indicates year-over-year growth of 108.8%. The Zacks Consensus Estimate for quarterly revenues indicates a year-over-year increase of 53.5%.

SBLK has a decent earnings surprise history. It has surpassed the consensus estimate in three of the trailing four quarters and missed once, delivering an average surprise of 31.7%.

Against this backdrop, let us check out the factors expected to have influenced Star Bulk’s September-quarter performance.

We expect vessel operating expenses to have been high in the to-be-reported quarter. This is likely to have dented SBLK’s bottom-line performance. Costs are most likely to have shot up due to elevated fuel expenses. Supply-chain disruptions are anticipated to have dampened this shipping company’s performance.

However, continued fleet expansion (including cargo fleet) initiatives are likely to have driven the company’s performance. The positive sentiment surrounding the dry bulk market is also expected to have aided the company’s performance in the to-be-reported quarter. The Capesize market is very strong currently. This reflects strong demand for dry bulk commodities from not only China but also the rest of the world and bodes well for dry bulk shipping companies like SBLK.

Earnings Whisper for SBLK

Our proven model does not predict an earnings beat for Star Bulk 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, which is not the case here.

Earnings ESP of SBLK: Star Bulk has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

SBLK’s Zacks Rank: Star Bulk currently carries a Zacks Rank #5 (Strong Sell).

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 this stock 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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Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report

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