A partial shutdown of the Department of Homeland Security has led to TSA workers quitting or working without pay at airports around the United States. This has led to longer wait times at airports, adding to the woes of airlines facing higher fuel costs since the war in Iran began.

Bad news for consumers and the federal government has turned into good news for a public company that has a presence at 60 airports.

Clear Secure Opportunity Arises

While airline and oil stocks have been volatile due to the ongoing tension in the Middle East, shares of Clear Secure (NYSE:YOU) have soared over the last month as a potential beneficiary of the longer wait times at airports.

The company, which went public in 2021, offers its Clear and Clear+ pre-check services for airport customers to get through security lines more quickly at many airports.

The subscription service is used by millions nationwide, and that number could rise in the future as the wait times get longer and the value of a Clear subscription becomes more convenient to beat the reported four to five-hour wait times to get through security lines at some airports.

A report from The Hill says the long wait times have disrupted TSA pre-check and Clear lines and services at some airports. Users on social media also report that some airports have long lines before the split is made to the designated Clear line.

People who have visited airports over the last year likely know about Clear and have seen the shorter lines in person, along with the Clear salespeople trying to persuade you to give it a try and join the subscription service.

Anyone who is forced to fly for work or is a frequent flyer during the current TSA crisis is likely weighing the cost of a Clear membership to help reduce time spent at airports.

Fourth Quarter Growth Sets Up Potential Strong First Quarter

Clear Secure reported fourth-quarter financials in late February with earnings per share missing analyst estimates and revenue beating analyst estimates.

The company has beaten analyst estimates for revenue in more than 15 straight quarters with the latest quarterly figure representing year-over-year growth of 16.7%.

Guidance from the company calls for first-quarter revenue in a range of $242 million to $245 million, up 15.2% year-over-year at the midpoint. That guidance came on Feb. 25, which was shortly into the DHS partial shutdown.

It is likely that the company's guidance didn't factor in the potential boost from the long lines and viral posts about TSA wait times could have on Clear subscriptions.

Clear ended the fourth quarter with 38.0 million CLEAR members, up 31.5% year-over-year and 7.6 million CLEAR+ members, up 6.0% year-over-year.

Guidance likely factors in a boost to both figures, but the national news story could push them higher than expected.

The big question for investors who didn't find the stock a month ago is whether shares are overpriced now or could have upside from first-quarter earnings and/or analyst updates.

Several analysts boosted the price target for Clear Secure shares after fourth-quarter results, but the TSA wait times have not been a key story for analysts covering the stock yet.

Clear Secure shares are up 62.5% over the last month and hit new 52-week highs of $56.30 on Tuesday. The share price is now getting close to the all-time high of $65.70 set on August 9, 2021, months after the June 2021 IPO.

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