Genco Shipping & Trading (US:GNK) ZACKSยท2024-11-07 00:56Group 1: Earnings Performance - Genco Shipping & Trading reported quarterly earnings of $0.41 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.09 per share a year ago [1] - The company had previously expected earnings of $0.42 per share but delivered $0.46, resulting in a surprise of 9.52% [1] - Over the last four quarters, Genco Shipping has surpassed consensus EPS estimates three times [1] Group 2: Revenue Analysis - Genco Shipping posted revenues of $71.1 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.11%, but up from $49.11 million year-over-year [2] - The company has topped consensus revenue estimates three times over the last four quarters [2] Group 3: Stock Performance and Outlook - Genco Shipping shares have declined approximately 1.2% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $0.53 for the coming quarter and $1.80 for the current fiscal year [4][7] Group 4: Industry Context - The Transportation - Shipping industry, to which Genco Shipping belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Genco Shipping's stock performance [5]