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What Awaits Genco Shipping & Trading (GNK) in Q2 Earnings?

·2-min read

Genco Shipping & Trading Limited GNK is scheduled to report second-quarter 2022 results on Aug 4, before market opens.

The Zacks Consensus Estimate for GNK’s second-quarter 2022 earnings has been revised upward by 16.1% in the past 90 days. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, the average beat being 4.38%.

Genco Shipping & Trading Limited Price and EPS Surprise

Genco Shipping & Trading Limited Price and EPS Surprise
Genco Shipping & Trading Limited Price and EPS Surprise

Genco Shipping & Trading Limited price-eps-surprise | Genco Shipping & Trading Limited Quote

Let’s see how things are shaping up for Genco Shipping & Trading this earnings season.

Q2 Expectations

The Zacks Consensus Estimate for Genco Shipping & Trading’s second-quarter 2022 revenues is pegged at $102.83 million, indicating 21.9% growth year over year.

On the flip side, higher bunker expenses as a result of increased fuel prices and higher vessel operating expenses due to higher crew expenses might bother Genco Shipping & Trading’s bottom line.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for Genco Shipping & Trading 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Genco Shipping & Trading has an Earnings ESP of 0.00% and a Zacks Rank of 3.

Stocks to Consider

Investors interested in the broader Transportation sector can consider stocks like Werner Enterprises WERN and International Seaways INSW, as these stocks possess the right combination of elements to beat estimates this reporting cycle.

Werner has an Earnings ESP of +1.42% and a Zacks Rank #3 at present. WERN will release second-quarter 2022 results on Aug 3.

Werner’s efforts to reward its shareholders through dividends and share buybacks are impressive. Improvement in the freight scenario is aiding performances of the Logistics and Truckload Transportation Services segments.

International Seaways has an Earnings ESP of +27.57% and is currently a #2 Ranked player. INSW will release second-quarter 2022 results on Aug 9.

International Seaways provides energy transportation services for crude oil and petroleum products. This tanker company owns and operates a fleet including ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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Genco Shipping & Trading Limited (GNK) : Free Stock Analysis Report
 
Werner Enterprises, Inc. (WERN) : Free Stock Analysis Report
 
International Seaways Inc. (INSW) : Free Stock Analysis Report
 
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