What Lies Ahead of Star Bulk Carriers' in Q1 Earnings?

Star Bulk Carriers Corp. SBLK is scheduled to report first-quarter 2024 results on May 22, after market close.

The Zacks Consensus Estimate for SBLK's first-quarter 2024 earnings has been revised upward by 18.9% in the past 90 days. The company also has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters (missed the mark in the remaining quarter), the average beat being 37.66%.

Star Bulk Carriers Corp. Price and EPS Surprise

Star Bulk Carriers Corp. price-eps-surprise | Star Bulk Carriers Corp. Quote

Let's see how things have shaped up for Star Bulk Carriersthis earnings season.

Q1 Expectations

The Zacks Consensus Estimate for Star Bulk Carriers' first-quarter 2024 revenues is pegged at $265.74 million, indicating 18.61% growth year over year. The top line is likely to have benefited from strength across voyage revenues and time charter equivalent revenues.

On the flip side, higher bunker expenses as a result of increased fuel prices and higher vessel operating expenses due to higher crew expenses might bother Star Bulk Carriers'bottom line.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for Star Bulk Carriers 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. But that's not the case here.

Star Bulk Carriers has an Earnings ESP of -1.14% and a Zacks Rank of 3.

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 Air 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.

United Airlines Holdings, Inc. UAL reported first-quarter 2024 loss per share (excluding 23 cents from non-recurring items) of 15 cents, which was narrower than the Zacks Consensus Estimate of a loss of 53 cents. In the year-ago reported quarter, UAL reported a loss of 63 cents per share.

Operating revenues of $12,539 million beat the Zacks Consensus Estimate of $12,428.4 million. The top line increased 9.7% year over year due to upbeat air-travel demand. This was driven by a 10.1% rise in passenger revenues (accounting for 90.2% of the top line) to $11,313 million. Almost 39,325 passengers traveled on UAL flights in the first quarter, up 6.8% year over year.

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