Earning’s Season – A Few Surprises

The big surprise is that there is no obvious trend, or blaring headlines like “the market stinks”, or “shares take a beating”. Truth is each result is a mini-story and for close followers of the sector, there was value to be had. Offshore and containers, with Seaspan leading the way, arguably outperformed their bulk market peers, which is no surprise. The biggest hit went to Horizon Lines whose saga of woe pre-ordained the collapse of its stock price in tandem with its EBITDA. Kirby and newly acquired K-Sea both performed well. What follows is a snapshot of those that reported thus far.

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