Seanergy Maritime (US:SHIP) ZACKS·2024-11-01 15:01Core Viewpoint - Seanergy Maritime Holdings (SHIP) is set to report its third-quarter 2024 results on November 5, with expectations of significant earnings growth despite rising operating expenses [1][2][4]. Financial Performance - The Zacks Consensus Estimate for SHIP's earnings has been revised upward by 12.73% over the past 60 days to 62 cents per share, indicating a remarkable year-over-year growth of 543% [2]. - Revenue estimates stand at $42.1 million, reflecting a year-over-year growth of 72.2% [2]. Market Conditions - The company is benefiting from improved sentiment in the Capesize market and favorable conditions in the dry bulk sector, supported by increased manufacturing activities in Asia [3]. - These positive market factors are expected to enhance the company's prospects for the upcoming quarter [3]. Challenges - Rising operating expenses, particularly due to elevated fuel costs and vessel operating costs, are anticipated to negatively impact SHIP's bottom-line performance [4]. - Ongoing supply-chain disruptions are also expected to hinder the company's performance for the quarter ending in September [4]. Earnings Prediction - Current models do not predict a definitive earnings beat for Seanergy Maritime, with an Earnings ESP of -1.61% and a Zacks Rank of 3 (Hold) [5].