Capital Product Partners (CPLP) Misses Q1 EPS by 2c and Reduces Distribution

Capital Product Partners (NASDAQ: CPLP) reported Q1 EPS of $0.08, $0.02 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $58 million versus the consensus estimate of $60.51 million.

"The board of directors (the "Board") today announced the creation of a capital reserve, a related reduction in available cash distributable on common units and the resetting of the common unit distribution level to a new sustainable path. Accordingly, our Board has fixed our common unit distribution for the first quarter of 2016 at $0.075 per common unit and issued a new annual distribution guidance of $0.30 per common unit, with the expectation to maintain that annual distribution level through 2018."

For earnings history and earnings-related data on Capital Product Partners (CPLP) click here.

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