Wall Street analysts expect revenues of $118.9 million for Euronav (EURN) in 4Q17—compared to $104.8 million in the previous quarter and $146.28 million in 4Q16. It’s an 18.7% fall YoY (year-over-year).
Going forward, analysts estimate Euronav’s 1Q18 revenues to be $131.4 million. For 2017, the revenues are expected to be $491.3 million—compared to $684.2 million in 2016. Analysts expect the fall in revenue to stop in 2017. They expect the 2018 revenues to rise to $532.8 million.
Euronav is an independent tanker company involved in crude oil transportation and storage. The company owns and operates a fleet of 54 double-hulled vessels. Euronav operates its fleet in the spot and period market.
Through the end of October 2017, Euronav booked 45% of its VLCC spot days at ~$26,000 per day. It booked ~56% of its Suezmax spot rates at ~$16,000 per day. These rates were higher than what the company earned in 3Q17.
None of the crude oil tanker companies have released their 4Q17 results yet. Below are the 4Q17 revenue estimates for Euronav’s peers.