Maritime shipping company Genco (NYSE:GNK) will be reporting results this Tuesday after the bell. Here’s what to look for.
Genco missed analysts’ revenue expectations by 3.9% last quarter, reporting revenues of $54.73 million, down 22.6% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates. It reported 42 owned vessels, flat year on year.
Is Genco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Genco’s revenue to grow 14.3% year on year to $77.21 million, a reversal from the 5.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.38 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Genco has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Genco’s peers in the transportation and logistics segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Scorpio Tankers delivered year-on-year revenue growth of 25.6%, beating analysts’ expectations by 4.3%, and Kirby reported revenues up 6.2%, falling short of estimates by 1.4%. Scorpio Tankers’s stock price was unchanged after the resultswhile Kirby was down 8.2%.
Read our full analysis of Scorpio Tankers’s results here and Kirby’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 8.1% on average over the last month. Genco is up 15.6% during the same time and is heading into earnings with an average analyst price target of $24.10 (compared to the current share price of $21.80).
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