Yahoo Finance Teekay Tankers (TNK) to Post Q1 Earnings: What's in Store?
Teekay Tankers TNK is scheduled to release first-quarter 2023 earnings on May 11, before market open.
TNK has an impressive earnings surprise record. Its bottom line surpassed the Zacks Consensus Estimate in three of the last four quarters (missed once). The average beat is 45.1%.
Teekay Tankers Ltd. Price and EPS Surprise
Teekay Tankers Ltd. price-eps-surprise | Teekay Tankers Ltd. Quote
However, the consensus estimate for first-quarter earnings has been revised 13.3% downward to $3.65 per share over the past 60 days.
Against this backdrop, let’s delve into the factors that might have impacted Teekay Tankers’ March-quarter performance.
TNK’s performance is expected to have been affected by supply-chain disruptions. High operating expenses due to the increased average number of vessels in its fleet are likely to have hurt the bottom line. Steep fuel costs are likely to have raised total expenses.
However, high tanker rates are likely to have aided the top-line performance. With the gradual resumption of economic activities, world trade gained pace, which, in turn, may aid the first-quarter results of shipping stocks like Teekay Tankers. This is because the shipping industry is responsible for transporting several goods involved in world trade.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Teekay Tankers 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. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Teekay Tankers 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.
Zacks Rank: Teekay Tankers carries a Zacks Rank of 3, currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Copa Holdings CPA has an Earnings ESP of +19.57% and currently 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.
Upbeat air-travel demand is likely to have aided Copa Holdings’ performance in the to-be-reported quarter. The Zacks Consensus Estimate for CPA’s first-quarter 2023 earnings has been revised 5.57% upward over the past 60 days.
Ryanair Holdings RYAAY has an Earnings ESP of +5.05% and a Zacks Rank #3. RYAAY will release fourth-quarter fiscal 2023 results on May 22.
Upbeat air-travel demand is likely to have aided Ryanair’s performance in the to-be-reported quarter. The Zacks Consensus Estimate for RYAAY’s fourth-quarter fiscal 2023 earnings has been revised 5.71% upward over the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Ryanair Holdings PLC (RYAAY) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
Teekay Tankers Ltd. (TNK) : Free Stock Analysis Report
