Aegean Marine (ANW) Tops Q2 EPS by 9c
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Aegean Marine (NYSE: ANW) reported Q2 EPS of $0.32, $0.09 better than the analyst estimate of $0.23. Revenue for the quarter came in at $987.6 million versus the consensus estimate of $899.63 million.
Compared to prior year period:
- Increased sales volumes by 29.9% to 4,092,789 metric tons.
- Increased gross profit by 19.0% to $93.4 million compared to prior year.
- Increased operating income by 95.3% to $28.9 million.
- Increased operating income adjusted for a loss on sale of non-core vessels by 111.5% to $31.3 million.
- Recorded GAAP net income attributable to Aegean shareholders of $13.5 million or $0.27 basic and dilutedearnings per share.
- Net income adjusted for a loss on sale of non-core vessels was $16.0 million or $0.32 basic and diluted earnings per share.
- Generated record adjusted EBITDA of $37.9 million.
- Sold two non-core vessels, enabling $5 million in debt pay down, which is expected to result in operating cost reductions of approximately $6.4 million on an annual basis.
For earnings history and earnings-related data on Aegean Marine (ANW) click here.
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