Maritime shipping company Genco (NYSE:GNK) will be reporting results this Wednesday after market close. Here’s what to look for.
Genco met analysts’ revenue expectations last quarter, reporting revenues of $77.17 million, up 16.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ adjusted operating income estimates. It reported 43 owned vessels, up 2.4% 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, the market is expecting Genco’s revenue to grow 59.9% year on year, a reversal from the 45.7% decrease it recorded in the same quarter last year.
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.
Looking at Genco’s peers in the transportation and logistics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Kirby delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 2.7%, and Matson reported a revenue decline of 3.1%, falling short of estimates by 2.5%. Kirby traded down 3.5% following the results.
Read our full analysis of Kirby’s results here and Matson’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 7.6% on average over the last month. Genco’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $27.88 (compared to the current share price of $24.17).
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