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Euronav’s 1Q16 Results Are on Their Way

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Apr. 22 2016, Published 1:19 p.m. ET

What will 1Q16 bring?

Euronav (EURN) is scheduled to release its 1Q16 results prior to the Markets opening on Wednesday, April 27, 2016. A conference call will follow the earnings release that same day.

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Recap of 2015

It was a spectacular year for crude tanker companies in 2015. Crude (DBO) tanker demand spiked tanker rates, which hit some of their highest numbers since 2008. Revenues in 2015 increased by 65%. Lower oil prices reduced the prime cost of tanker companies. Bunker fuel costs and Euronav’s EBITDA (earnings before interest, tax, depreciation, and amortization) increased 243%.

Stock performance

Crude tanker investors didn’t fare well in the first quarter of 2015. All crude tanker stocks had negative returns. The worst performer was Teekay Tankers (TNK), which fell 44%. The best performer was Nordic American Tankers (NAT), which fell only 9%. In the same quarter, stock performances for other crude tanker companies were as follows:

  • Tsakos Energy Navigation (TNP): fell 22%
  • DHT Holdings (DHT): fell 29%
  • Euronav (EURN): fell 25%

Investors interested in broad exposure to industrials can invest in the SPDR Dow Jones Industrial Average ETF (DIA).

Series overview

In this series, we’ll take a look at what analysts are expecting from Euronav’s 1Q16 results. We’ll go over estimates for 2016 revenue and EBITDA.

We’ll also look at analyst recommendations and recent upgrades and downgrades for Euronav. Changes in analyst estimates are key drivers of short-term price movements. So investors should keep track of them since they provide insight into what the Market is expecting from a company.

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