Tanking company Scorpio Tankers (NYSE: STNG) will be reporting earnings this Thursday before market open. Here’s what you need to know.
Scorpio Tankers beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $222.8 million, down 40.4% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. It reported 99 total vessels, down 8.9% year on year.
Is Scorpio Tankers a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Scorpio Tankers’s revenue to decline 9.9% year on year to $232.6 million, in line with the 10.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.43 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. Scorpio Tankers has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Scorpio Tankers’s peers in the transportation and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FedEx delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 2.7%, and Avis Budget Group reported revenues up 1.1%, topping estimates by 1.8%. FedEx traded up 2.2% following the results while Avis Budget Group was down 6.1%.
Read our full analysis of FedEx’s results here and Avis Budget Group’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 3.1% on average over the last month. Scorpio Tankers is up 7.6% during the same time and is heading into earnings with an average analyst price target of $67.89 (compared to the current share price of $61.44).
P.S. While everyone's chasing Nvidia, we found a hidden AI semiconductor winner trading at a fraction of the price. See our #1 pick before Wall Street catches on.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
