Tanking company Scorpio Tankers (NYSE:STNG) will be reporting earnings tomorrow before market hours. Here’s what investors should know.
Scorpio Tankers missed analysts’ revenue expectations by 3.6% last quarter, reporting revenues of $192.1 million, down 42.5% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates. It reported 100.9 total vessels, up 1.9% year on year.
Is Scorpio Tankers a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Scorpio Tankers’s revenue to decline 48.5% year on year to $200.8 million, a reversal from the 3.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 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 five times over the last two years.
Looking at Scorpio Tankers’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. ArcBest’s revenues decreased 6.7% year on year, missing analysts’ expectations by 2.7%, and Ryder reported revenues up 1.1%, in line with consensus estimates. Ryder’s stock price was unchanged following the results.
Read our full analysis of ArcBest’s results here and Ryder’s results here.
Investors in the transportation and logistics segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Scorpio Tankers is down 2.5% during the same time and is heading into earnings with an average analyst price target of $61.70 (compared to the current share price of $37.16).
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