Intl Shipholding Corp. (ISH) Reports Q1 Loss Per Share of 79c, Offers Outlook, Cuts Dividend
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Financial Fact:
Basic Earnings Per Common Share: (in dollars per share): -1.32
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Intl Shipholding Corp. (NYSE: ISH) reported Q1 EPS of ($0.79), $0.42 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $68.21 million versus the consensus estimate of $76 million.
Outlook
The Company has provided 2015 EBITDA guidance in the range of $55 to $63 million, and 2015 cash outlay on capital expenditures, including dry dock costs, but excluding its investment in its office building in New Orleans, LA, in the range of $35 to $40 million. The Company has eight (8) vessels scheduled to undergo regularly scheduled drydockings in 2015, including three (3) vessels in its Jones Act fleet. The Company’s Board of Directors has set a $0.05 common stock dividend target for the second quarter of 2015 and remains committed to an ongoing dividend policy. All dividend declarations remain subject to the discretion and approval of International Shipholding Corporation’s Board of Directors on a quarterly basis.
Dividend Declarations
On April 2, 2015, the Company’s Board of Directors approved per-share dividend payments payable on April 30, 2015, of $2.375 and $2.25 on its Series A and Series B Preferred Stock, respectively, representing regular quarterly payments. Additionally, the Board of Directors declared a $0.05 dividend payable on June 3, 2015 for each share of common stock owned on the record date of May 15, 2015. All future dividend declarations remain subject to the discretion of International Shipholding Corporation’s Board of Directors.
For earnings history and earnings-related data on Intl Shipholding Corp. (ISH) click here.
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