Greece-based dry bulk shipper's Q2 time charter revenue rose yr/yr on higher charter rates
Q2 net income and EPS increased sharply from prior year
Company declared $0.01 per share cash dividend for Q2
Result drivers
Higher charter rates - Co said increase in time charter revenue was due to higher average charter rates
Gains on equity securities - Net income benefited from gains on equity securities in the quarter
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Time Charter Revenue
$57.29 mln
Q2 EPS
Beat
$0.16
$0.10 (1 Analyst)
Q2 Net Income
Beat
$20.76 mln
$11.11 mln (1 Analyst)
Q2 Basic EPS
$0.17
Q2 Operating Income
$12.10 mln
Q2 Vessel Operating Expenses
$20.95 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
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