Scorpio Tankers (STNG) Q3 Earnings Surpass Estimates

Core Insights - Scorpio Tankers reported quarterly earnings of $1.75 per share, exceeding the Zacks Consensus Estimate of $1.61 per share, but down from $1.91 per share a year ago, indicating an earnings surprise of 8.70% [1] - The company generated revenues of $258.2 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.69% and down from $289.19 million year-over-year [2] - Scorpio Tankers has surpassed consensus EPS estimates four times over the last four quarters and topped revenue estimates three times during the same period [2] Earnings Outlook - The sustainability of Scorpio Tankers' stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.02 on revenues of $281.97 million, while for the current fiscal year, the estimate is $11.46 on revenues of $1.32 billion [7] Industry Context - The Transportation - Shipping industry, to which Scorpio Tankers belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, which may negatively impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5][6]