Yahoo Finance What Awaits ZIM Integrated Shipping (ZIM) in Q1 Earnings?
ZIM Integrated Shipping Services ZIM is slated to release first-quarter 2024 results on May 21 before market open.
The Zacks Consensus Estimate for earnings is currently pegged at $1.09 per share, reflecting an upward revision of 7.92% over the past 60 days. ZIM, which went public in February 2021, surpassed the Zacks Consensus Estimate for earnings in only one of the last four quarters and lagged thrice, the average miss being 63.5%.
ZIM Integrated Shipping Services Ltd. Price and EPS Surprise
ZIM Integrated Shipping Services Ltd. price-eps-surprise | ZIM Integrated Shipping Services Ltd. Quote
Against this backdrop, let’s look at the factors that might have shaped ZIM’s March-quarter performance.
We expect the company’s bottom-line performance to have been hit by escalated voyage operating expenses. High fuel and labor costs are also likely to have played spoilsport.
On a brighter note, continued fleet expansion initiatives are likely to have driven the company’s performance. Moreover, reduced container availability due to Red Sea tensions has resulted in a rise in freight costs. This is likely to have aided ZIM’s performance, which provides service to East Mediterranean and Israeli ports. The Zacks Consensus Estimate for revenues is currently pegged at $1.59 billion, suggesting an uptick of 15.49% from the year-ago actuals.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for ZIM Integrated Shipping 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.
Earnings ESP: ZIM Integrated Shipping has an Earnings ESP of 0.00% (the Most Accurate Estimate is in line with the Zacks Consensus Estimate). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ZIM Integrated Shipping currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Q1 Performances of Some Transportation Companies
Delta Air Lines DAL reported first-quarter 2024 earnings (excluding 39 cents from non-recurring items) of 45 cents per share, which comfortably beat the Zacks Consensus Estimate of 36 cents. Earnings increased 80% on a year-over-year basis.
Revenues of $13.75 billion surpassed the Zacks Consensus Estimate of $12.84 billion and increased 7.75% on a year-over-year basis, driven by strong air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $12.56 billion, up 6% year over year. Delta expects adjusted earnings of $2.20-$2.50 per share for second-quarter 2024.
CSX Corporation's CSX first-quarter 2024 earnings per share of 46 cents beat the Zacks Consensus Estimate by a penny. However, the bottom line declined 4% year over year.
Total revenues of $3.68 billion surpassed the Zacks Consensus Estimate of $3.65 billion. Yet, the top line decreased 1% year over year due to lower fuel surcharge, a decline in other revenues, low trucking revenues and reduced export coal prices.
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