Aegean Marine (ANW) Tops Q2 EPS by 9c

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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