Zacks released its latest Industry Outlook and identified the best stocks in the top-ranked industries. Featured in the latest report is the transportation - shipping industry with a focus on Hornbeck Offshore Services, Inc., OMI Corporation
and Tidewater Inc. (TDW)
According to the report, strong OSV market conditions in the U.S. Gulf of Mexico led to a solid third-quarter report for Hornbeck. In early November, the company posted earnings per share of 44 cents, which was almost triple the year-earlier result of 15 cents. Revenues surged 41.3% to $46.5 million, versus $32.9 million a year earlier.
OMI Corporation’s third quarter, which was announced in mid-October, turned out to be the second best third quarter in the company's history. Earnings per share, excluding special items, reached 46 cents, which topped the consensus by more than 4.5%. Meanwhile, revenues advanced 11% to $143.2 million from $129.4 million. Tidewater Inc. recently reported fiscal third quarter earnings of $1.04 per share on revenues of $234.6 million. The earnings result marked a substantial year-over-year improvement from 34 cents and also topped the consensus by about 3%. Revenues advanced 25% from $187.6 million.