The earnings season is about to conclude, and so far, we have seen a greater proportion of earnings beats than initially perceived. This is perhaps due to already lowered expectations as analysts had factored in the headwinds, bringing estimates down to easy-to-beat levels. As per our Zacks Trend Report, total earnings so far have recorded a 7.5% year-over-year drop on a 1.9% slip in revenues.Notably, overall earnings for the current quarter are also expected to be down 5.5%, as per the Zacks Trend Report on 1% lower revenues. So, is the ‘Earnings Recession’ for real? We leave that one for time to answer. For now, let’s focus on the shipping industry. This industry has been going through a tough time recently due to low freight rates, overcapacity and a dearth of bank financing, among other headwinds.With this in the backdrop, let’s take a peek into how these four shipping stocks are poised ahead of their first-quarter results.Gener8 Maritime Inc. GNRT is poised to beat our estimates this season. As per our model, a stock needs to have both a positive Earnings ESP and a Zacks Rank #3 (Hold) or better to be able to post an earnings surprise and Gener8 Maritime, with an Earnings ESP of +5.80% and a Zacks Rank #3 (Hold) has the right mix. The company is expected to report their Q1 financial results on May 11, 2016 after market close.KNOT Offshore Partners LPKNOP has an Earnings ESP of -2.27%. The company’s negative ESP, when combined with its Zacks Rank #3 makes surprise prediction difficult. Last quarter, KNOT Offshore beat earnings estimates by 28.30%. The company is expected to report their Q1 financial results on May 11, 2016 before market open. Navios Maritime Acquisition CorporationNNA has a Zacks Rank #4 (Sell) and an Earnings ESP of +14.29%. As it is, we caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement. Last quarter, the company’s earnings were in line with the Zacks Consensus Estimate. The company is expected to report their Q1 financial results on May 11, 2016. Our proven model does not conclusively show that Nordic American Offshore Ltd. NAO is going to beat estimates this quarter. This is because the Zacks Rank #3 company has an Earnings ESP of 0.00%. Last quarter, Nordic American posted a negative earnings surprise of 11.76%. The company is expected to report their Q1 financial results on May 12, 2016 before market opens. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KNOT OFFSHOR LP (KNOP): Free Stock Analysis Report NORDIC AM OFFSH (NAO): Free Stock Analysis Report GENER8 MARITIME (GNRT): Free Stock Analysis Report NAVIOS MARI ACQ (NNA): Free Stock Analysis Report To read this article on Zacks.com click here.