Yahoo Finance What's in Store for Global Ship Lease (GSL) in Q1 Earnings?
Global Ship Lease GSL is scheduled to release first-quarter 2023 results on May 10, before market open.
GSL has an appreciative surprise record as its earnings surpassed the Zacks Consensus Estimate in three of the last four quarters (reporting in-line earnings in the remaining one), the average beat being 13.3%.
Against this backdrop, let’s discuss the factors that might have impacted Global Ship Lease’s performance in the March quarter.
Global Ship Lease, Inc. Price and EPS Surprise
Global Ship Lease, Inc. price-eps-surprise | Global Ship Lease, Inc. Quote
Bullishness surrounding the containership market is a huge boon for Global Ship Lease and is likely to have boosted its top line in the soon-to-be-reported quarter. Increased fleet utilization with the gradual resumption of economic activities and an uptick in world trade are likely to get reflected in GSL’s impending results. High container rates are also likely to have boosted the top line. However, the Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $151.8 million, implying a decline of 1.2% year over year.
On the flip side, high fuel costs due to the escalation in oil prices are likely to have hurt the bottom-line performance in the to-be-reported quarter. The Zacks Consensus Estimate for earnings has declined 1% to $1.94 per share over the past 60 days.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Global Ship Lease 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: Global Ship Lease has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate is at $1.94. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Global Ship Lease currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider since our model shows that these have the right combination of elements to beat on earnings this season.
Eagle Bulk Shipping Inc. EGLE currently has an Earnings ESP of +137.04% and a Zacks Rank of 3. EGLE will release first-quarter 2023 results on May 4.
EGLE has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters (missed once) by an average of 2.5%.
Copa Holdings CPA currently has an Earnings ESP of +19.57% and carries a Zacks Rank #2. CPA will release first-quarter 2023 results on May 10. You can see the complete list of today’s Zacks #1 Rank stocks here.
We expect CPA’s first-quarter performance to have been aided by upbeat air-travel demand. It has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 33.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
Eagle Bulk Shipping Inc. (EGLE) : Free Stock Analysis Report
Global Ship Lease, Inc. (GSL) : Free Stock Analysis Report
