Transport ETFs Rally On Solid Start To Earnings Season
Zacks Investment Research | Oct 23, 2019 12:00AM ET
The transportation sector has been off to a strong start this earnings season. Most industry players managed to beat on earnings or revenues or on both counts, instilling huge optimism in the space (see: all the Industrials ETFs here).
For a better understanding, let’s delve into the results of some well-known industry players:
Transportation Earnings in Focus
The world's largest package delivery company United Parcel Service’s (NYSE:UPS) top and the bottom line beat the Zacks Consensus Estimate. Earnings of $2.07 were a penny ahead of the consensus mark while revenues of $18.32 billion edged past the estimated $18.3 billion. For 2019, the company reiterated earnings per share in the range of $7.45-$7.75.
Union Pacific (NYSE:UNP) missed the Zacks Consensus Estimate for earnings by 7 cents and that for revenues by $107 million. Meanwhile, Kansas City Southern’s (NYSE:KSU) earnings of $1.94 per share topped estimates by 17 cents while revenues of $748 million came ahead of the estimated $730 million.
U.S. airlines Delta Air Lines (NYSE:DAL) and United Continental (NASDAQ:UAL) beat on earnings but lagged on revenues. Earnings per share at Delta and United Continental trumped the Zacks Consensus Estimate by 5 cents and 13 cents, respectively. Revenues of $12.56 billion for Delta and $11.4 billion for United Continental were below the estimated $12.62 billion and $11.42 billion, respectively (read: Zacks Investment Research
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