Is a Beat in the Offing for C.H. Robinson in Q3 Earnings?

C.H. Robinson CHRW is scheduled to report third-quarter 2024 results on Oct. 30 after market close.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.C.H. Robinson has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. The average beat is 7.3%.The Zacks Consensus Estimate for CHRW’s soon-to-be-reported quarter’s earnings has been revised upward by 3.70% in the past 60 days to $1.12 per share. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $4.50 billion, which indicates growth of 3.7% year over year.An improvement in freight market conditions may aid top-line results in the third quarter. Our estimate for revenues from the service line transportation segment is pegged at $4.12 billion, up 2.4% from the third-quarter 2023 actuals. Meanwhile, estimates for revenues from the sourcing segment are pegged at $330 million.Per our model, estimates for North American Surface Transportation’s third-quarter revenues are pegged at $3.13 billion, which indicates a 1.3% increase from the year-ago reported figure. Revenues from the Global Forwarding segment are anticipated to be $784 million, which implies a 9% increase from the year-ago reported figure.We also expect CHRW's operational efficiency, driven by its robust cost-cutting initiatives and integrating data science and AI into its operations, to have bolstered the company’s bottom-line performance in the to-be-reported quarter.  However, high capital expenditure may have an adverse impact on the company’s prospects in the September-end quarter.What Our Model Says About CHRWOur proven model predicts an earnings beat for C.H. Robinson 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 the case here.C.H. Robinson has an Earnings ESP of +3.80% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.C.H. Robinson Worldwide, Inc. Price and EPS Surprise C.H. Robinson Worldwide, Inc. price-eps-surprise | C.H. Robinson Worldwide, Inc. QuoteCHRW’s Q2 HighlightsC.H. Robinson’s second-quarter 2024 earnings of $1.15 per share outpaced the Zacks Consensus Estimate of 95 cents and improved 27.7% year over year. Total revenues of $4.483 billion marginally missed the Zacks Consensus Estimate of $4.484 billion but improved 1.4% year over year due to higher pricing in the company’s ocean services, partially offset by lower pricing in its truckload services.Other Stocks to ConsiderHere are some other stocks from the broader Zacks Transportation sector that investors might want to consider, as our model shows that these also have the right combination of elements to beat third-quarter 2024 earnings.JetBlue Airways JBLU has an Earnings ESP of +0.07% and a Zacks Rank #3. The company is scheduled to report third-quarter 2024 earnings on Oct. 29 before the market opens.JBLU surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once. The average beat is 42%.Expeditors EXPD has an Earnings ESP of +2.13% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. EXPD is scheduled to report third-quarter 2024 earnings on Nov. 5.EXPD has a discouraging earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the preceding four quarters and missed twice. The average miss is 2.7%.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 JetBlue Airways Corporation (JBLU): Free Stock Analysis Report C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report Expeditors International of Washington, Inc. (EXPD): 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