KEX has an expected earnings growth rate of 56.92% for third-quarter 2023. KEX delivered a trailing four-quarter earnings surprise of 8.03%, on average. On the back of upbeat air-travel demand and favorable pricing, the company expects to boost its fleet and workforce to meet the anticipated high demand. ALK expects third-quarter 2023 total revenues to increase in the 1-2% range from third-quarter 2022 actuals (the earlier projection was for a 0-3% increase).
- But historically this has been a cyclical industry, and investors are keeping a watchful eye on future demand to gauge whether rising inflation will cut into demand from here.
- This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
- Yes, the revenue guidance was not as hoped, but it is hardly reason to press the panic button.
- Investors were disappointed, sending Alaska shares down about 12%.
- View analysts price targets for ALK or view top-rated stocks among Wall Street analysts.
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a review a complete guide to the futures market trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year.
Top 4 Industrials Stocks That Could Blast Off This Quarter – Alaska Air Gr (NYSE:ALK), Asure Software (NASDAQ:ASUR)
Outside of a handful of highflying technology stocks, U.S. stocks have been practically flat in 2023, but on Wall Street, some analysts remain as bullish as ever. Valuation is also important, so investors should note that Alaska Air Group has a Forward P/E ratio of 6.36 right now. This signifies a discount in comparison to the average Forward P/E of 7.16 for its industry.
Alkane Resources Limited operates as a gold exploration and production company in Australia. It explores for gold, copper, nickel, zinc, and silver deposits. The company also invests in junior gold mining companies and projects. Alkane Resources Limited was incorporated in 1969 and is headquartered in West Perth, Australia. Alaska Air Group (ALK -1.69%) had a great quarter, but management’s expectations for revenue growth from here fell short of what analysts had hoped for. Investors were disappointed, sending Alaska shares down about 12%.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. The airline sector was suffering another broad selloff Tuesday, amid worries over how a government shutdown will hurt the industry and as falling ticket prices raise concerns over profitability. Yes, the revenue guidance was not as hoped, but it is hardly reason to press the panic button.
Top Stock Reports for Adobe, Deere & American Express
Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. Alaska Air Group’s stock split on the morning of Thursday, July 10th 2014.
The newly created shares were payable to shareholders after the market closes on Wednesday, July 9th 2014. An investor that had 100 shares of stock prior to the split would have 200 shares after the split. Due to high costs, the third-quarter adjusted pre-tax margin is now expected to be in the 10-12% range (earlier guidance was 14-16%). Our experts picked 7 Zacks Rank velocity trade #1 Strong Buy stocks with the best chance to skyrocket within the next days. JetBlue Airways’ revenues are expected to be $2.61 billion, up 6.8% from the year-ago quarter. The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Alaska Air now sees Q3 CASMex fuel down 1% to 2%
To see all exchange delays and terms of use please see Barchart’s disclaimer. The company is scheduled to release its next quarterly earnings announcement on Thursday, October 19th 2023. Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Alaska Air Group (ALK) Q2 Earnings and Revenues Beat Estimates
The airline’s stock has dropped by 14.53% in the past month, falling short of the Transportation sector’s loss of 3.22% and the S&P 500’s loss of 2.4%. Despite rising inflation, airfares were down 19% year over year in June due to lower fuel costs. That’s allowing lower-cost competitors to be more flexible on price, which is eating into what others can charge. “People are hungry to travel and our frontline employees are delivering the safe, reliable and caring experience that people expect when they fly with us,” CEO Ben Minicucci said in a statement. “I’m so proud of our team for knocking it out of the park and delivering industry-leading operational and financial outcomes.” Delta shares rose after CEO Ed Bastian acknowledged the company may have gone too far with changes to its loyalty program, and promised modifications.
The Zacks Consensus Estimate for Alaska Air’s third-quarter 2023 revenues is pegged at $2.88 billion, indicating 1.7% growth year over year. The top line is likely to have been aided bycontinued recovery in air-travel demand. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missing once, the average miss being 2.72%. The Zacks Consensus Estimate for third-quarter earnings has been revised 33.3% upward over the past 90 days. Alaska Air, which belongs to the Zacks Transportation – Airline industry, posted revenues of $2.84 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.07%. The company has topped consensus revenue estimates two times over the last four quarters.
The Zacks Consensus Estimate for KEX’s third-quarter 2023 revenues is pegged at $794.60 million, indicating growth of 6.54% year over year. Kirby Corporation (KEX Quick QuoteKEX – Free Report) has an Earnings ESP of +6.52% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. Recent stocks from this report have soared up to city index review +178.7% in 3 months – this month’s picks could be even better. Another stock from the same industry, JetBlue Airways (JBLU Quick QuoteJBLU – Free Report) , has yet to report results for the quarter ended June 2023. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well.
Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style.