DryShips (DRYS) Reports In-Line Q2 EPS

DryShips (NASDAQ: DRYS) reported Q2 EPS of $0.06, in-line with the analyst estimate of $0.06. Revenue for the quarter came in at $403 million versus the consensus estimate of $511.92 million.

Second Quarter 2015 Financial Highlights

• For the second quarter of 2015, the Company reported a net loss of $1.44 billion, or $2.17 basic and diluted loss per share. Included in the second quarter 2015 results are:
  • A one-time non-cash loss of $1.35 billion, or $2.03 per share, as a result of the deconsolidation of Ocean Rig.
  • Impairment charge on one drybulk vessel, of $83.9 million, or $0.13 per share.
  • Other non-cash losses related to the previously announced settlement of receivables and new employment entered into with one of our charterers, of $45.8 million, or $0.07 per share.
• Excluding these items, the Company's net results would have amounted to a net income of $36.5 million, or $0.06 per share. (1)
• The Company reported Adjusted EBITDA of $243.4 million for the second quarter of 2015, as compared to $248.8 million for the second quarter of 2014. (2)

For earnings history and earnings-related data on DryShips (DRYS) click here.

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