Yahoo Finance ZTO Express (ZTO) Shares Rise 1.1% Since Q1 Earnings Release
ZTO Express’ ZTO shares have gained 1.1% since its first-quarter 2024 earnings release on May 16. Quarterly earnings of 37 cents per share improved year over year. Total revenues of $1.37 billion improved year over year.
Detailed Operational Statistics
Revenues from the core express delivery business surged 11% year over year, owing to a 13.9% increase in parcel volume and a 2.5% decrease in parcel unit price. KA revenues, including delivery fees from direct sales organizations established to serve core express KA customers, decreased 7.1% as a result of a mix shift toward higher-value customers.
Revenues from freight forwarding services grew 5.2% year over year.
Revenues from sales of accessories, which largely consisted of sales of thermal paper used for digital waybills' printing, climbed 31.5%. Other revenues were mainly derived from financing services.
Revenues from the core express delivery business jumped 8% year over year, owing to a 32% increase in parcel volume and an 18.2% decrease in parcel unit price. Parcel volume market share increased 32% from the year-ago reported quarter.
Gross profit improved 19% from the year-ago reported quarter on the back of revenue growth and cost productivity gain. The gross margin rate improved to 30.1% from 28.1% in the year-ago period.
Total operating expenses came in at RMB 735.4 million ($101.8 million) compared with RMB 573.0 million in the year-ago period.
ZTO Express (Cayman) Inc. Price, Consensus and EPS Surprise
ZTO Express (Cayman) Inc. price-consensus-eps-surprise-chart | ZTO Express (Cayman) Inc. Quote
ZTO Express exited the first quarter of 2024 with cash and cash equivalents of RMB12.58billion compared with RMB 12.33 billion at the end of December 2023.
2024 Guidance
ZTO Express continues to expect parcel volumes for 2024 in the range of 34.73 - 35.64 billion. The guidance indicates an increase of 15-18% year over year.
Currently, ZTO Express carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
Delta Air Lines DAL reported first-quarter 2024 earnings (excluding 39 cents from non-recurring items) of 45 cents per share, which comfortably beat the Zacks Consensus Estimate of 36 cents. Earnings increased 80% on a year-over-year basis.
Revenues of $13.75 billion surpassed the Zacks Consensus Estimate of $12.84 billion and increased 7.75% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $12.56 billion, up 6% year over year.
United Airlines Holdings, Inc.UAL reported a first-quarter 2024 loss per share (excluding 23 cents from non-recurring items) of 15 cents, which was narrower than the Zacks Consensus Estimate of a loss of 53 cents. In the year-ago reported quarter, UAL reported a loss of 63 cents per share.
Operating revenues of $12.53 billion beat the Zacks Consensus Estimate of $12.42 billion. The top line increased 9.7% year over year due to upbeat air travel demand. This was driven by a 10.1% rise in passenger revenues (accounting for 90.2% of the top line) to $11.31 billion. Almost 39,325 passengers traveled on UAL flights in the first quarter, up 6.8% year over year.
J.B. Hunt Transport Services, Inc.’s JBHT first-quarter 2024 earnings of $1.22 per share missed the Zacks Consensus Estimate of $1.53 and declined 35.5% year over year.
JBHT’s total operating revenues of $2,944 million missed the Zacks Consensus Estimate of $3,117.1 million and fell 8.8% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 7% year over year. The downfall was owing to a 9% decrease in segment gross revenue per load in both Intermodal (JBI) and Truckload (JBT), 22% fewer loads in Integrated Capacity Solution (ICS), and a modest decline in average trucks and productivity in Dedicated Contract Services (DCS). Revenue declines in JBI, ICS, JBT and DCS were partially offset by Final Mile Services revenue growth of 2%, primarily driven by new contracts implemented over the past year.
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