Danaos to Report Q3 Earnings: What's in the Offing for the Stock?

Danaos Corporation DAC is scheduled to release third-quarter 2024 results on Nov. 12 before market open.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Danaos has a discouraging earnings surprise history, having missed the Zacks Consensus Estimate in each of the trailing four quarters. The average miss is 6.3%.The Zacks Consensus Estimate for DAC’s soon-to-be-reported quarter’s earnings has been revised downward by 3.4% in the past 60 days to $6.86 per share.We expect Danaos' performance in the to-be-reported quarter to be affected by continued market disruptions driven by challenges in the Red Sea and the Ukraine war. Higher charter rates are expected to have boosted the top line. The Zacks Consensus Estimate for revenues is pegged at $251.16 million, which indicates growth of 5% from the year-ago levels.We expect Danaos’ third-quarter bottom-line performance to have been hurt by higher vessel operating expenses due to the increase in the average number of vessels in its fleet and an uptick in the average daily operating cost for vessels.However, increased fleet utilization is expected to have contributed to the company’s prospects in the to-be-reported quarter.United Airlines Holdings Inc Price and EPS Surprise United Airlines Holdings Inc price-eps-surprise | United Airlines Holdings Inc QuoteWhat Our Model Says About DACOur proven model does not conclusively predict an earnings beat for Danaos this time. 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.DAC has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Highlights of DAC’s Q2 ResultsDanaos came out with quarterly earnings of $6.78 per share, missing the Zacks Consensus Estimate of $7.04 per share. This compares to earnings of $7.14 per share a year ago. These figures are adjusted for non-recurring items.Revenues of $246.3 million beat the Zacks Consensus Estimate by 3.1%. This compares to the year-ago revenues of $241.48 million.Q3 Performances of Other Transportation CompaniesDelta Air Lines DAL reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year. This included the $380 million impact of the outage caused by CrowdStrike (CRWD).Norfolk Southern Corporation’s NSC third-quarter 2024 earnings (excluding $1.6 from non-recurring items) of $3.25 per share beat the Zacks Consensus Estimate of $3.10 and increased 22.6% year over year due to lower costs.Railway operating revenues were $3.05 billion in the quarter under review, lagging the Zacks Consensus Estimate of $3.09 billion. However, the top line increased 2.7% year over year, with the Merchandise and Intermodal segments registering an improvement in revenues.J.B. Hunt Transport Services’ JBHT third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.Total operating revenues of $3.07 billion surpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. The operating income for the September quarter decreased 7% year over year to $224.1 million.Free Report: 5 Clean Energy Stocks with Massive UpsideEnergy is the backbone of our economy. It’s a multi-trillion dollar industry that has created some of the world’s largest and most profitable companies.Now state-of-the-art technology is paving the way for clean energy sources to overtake “old-fashioned” fossil fuels. Trillions of dollars are already pouring into clean energy initiatives, from solar power to hydrogen fuel cells.Emerging leaders from this space could be some of the most exciting stocks in your portfolio.Download Nuclear to Solar: 5 Stocks Powering the Future to see Zacks’ top picks free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report Norfolk Southern Corporation (NSC): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report Danaos Corporation (DAC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks