3 Top Transportation Stocks Poised For Q3 Earnings Beat
Zacks Investment Research | Nov 12, 2018 08:27PM ET
Within the widely diversified transportation sector, consisting of airlines, railroads, truckers, shippers to name a few, railroad companies have been benefiting from strong demand for freight on the back of a buoyant economy and solid volume growth. These tailwinds drove third-quarter results of railroad majors like Union Pacific Corporation (NYSE:UNP) and Norfolk Southern Corporation (NYSE:NSC) , which reported better-than-expected earnings and revenues. Moreover, both the top and the bottom line improved significantly year over year.
Package delivery companies like United Parcel Service, Inc. (NYSE:UPS) are gaining from robust e-commerce growth. This company’s top line improved significantly year over year and also surpassed the Zacks Consensus Estimate. The bottom line also increased substantially on a year-over-year basis.
However, escalating fuel prices are pushing up the operating expenses and in turn, hampering the transportation companies’ bottom-line growth. Per data provided by the complete list of today’s Zacks #1 Rank stocks here .
The company is scheduled to report third-quarter earnings on Nov 16.
Teekay Tankers Ltd. (NYSE:TNK) , based in Hamilton, Bermuda, provides international marine transportation of crude oil. The stock has a Zacks Rank of 3 and an Earnings ESP of +5.40%. The company is slated to release third-quarter results on Nov 15.
Hoegh LNG Partners LP (NYSE:HMLP) , based in Hamilton, Bermuda, is a provider of floating LNG services under long-term contracts. The company is a Zacks #3 Ranked player and has an Earnings ESP of +17.19%. It will announce third-quarter financial numbers on Nov 29.
Hoegh LNG Partners LP Price and EPS Surprise
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