Costamare (CMRE) to Report Q4 Earnings: What's in Store?
Costamare CMRE is scheduled to report fourth-quarter 2022 results on Feb 8, before market open.
The Zacks Consensus Estimate for fourth-quarter earnings has been revised 4.65% downward to 82 cents per share over the past 60 days. CMRE, however, has an encouraging earnings history. Its bottom-line outperformed estimates in each of the preceding four quarters by an average of 4.65%.
Against this backdrop, let’s look at the factors that are likely to have impacted Costamare’s December-quarter performance.
With the gradual resumption of economic activities, the world trade is gaining pace. This is a positive for shipping stocks like Costamare as the shipping industry is responsible for transporting a high proportion of goods involved in world trade.
Bullishness surrounding the containership market is a tailwind to Costamare. A ramp-up of manufacturing activities in Asia aids the containership market besides other factors.
However, we expect CMRE’s fourth-quarter bottom-line performance to have been affected by higher vessel operating expenses, mainly due to the increased average number of vessels in its fleet. High fuel costs are likely to have shot up total expenses.
Our proven model does not predict an earnings beat for Costamare this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. However, that is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Costamare has an Earnings ESP of -7.32% as the Most Accurate Estimate is currently pegged at 76 cents, 6 cents below the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Costamare carries a Zacks Rank #4 (Sell), currently.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2022 earnings.
Copa Holdings CPA currently has an Earnings ESP of +0.42% and flaunts a Zacks Rank #1. CPA will release fourth-quarter 2022 results on Feb 15.
We expect Copa’s fourth-quarter performance to have been aided by upbeat air-travel demand. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 48.95%.
Expeditors International of Washington EXPD currently has an Earnings ESP of +9.04% and a Zacks Rank of 3. EXPD will release fourth-quarter 2022 results on Feb 21.
The company has a current Zacks Consensus Estimate for earning of $1.88 per share, which has been revised 8.67% upward in the past 60 days. EXPD has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters by an average of 22.1%.
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Expeditors International of Washington, Inc. (EXPD) : Free Stock Analysis Report
Copa Holdings, S.A. (CPA) : Free Stock Analysis Report
Costamare Inc. (CMRE) : Free Stock Analysis Report
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