Navios Maritime Midstream Partners (NAP) Misses Q2 EPS by 2c, Miss on Revenues

Navios Maritime Midstream Partners (NYSE: NAP) reported Q2 EPS of $0.21, $0.02 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $20.8 million versus the consensus estimate of $21.14 million.

• Revenue: $20.8 million in Q2; $40.6 million for the six months
• Net cash from operating activities: $26.1 million for the six months
• EBITDA: $14.7 million in Q2; Adjusted EBITDA: $28.4 million for the six months
• Operating Surplus: $8.9 million in Q2; $16.7 million for the six months
• Merger Proposal from Navios Maritime Acquisition Corporation
• Quarterly Cash Distribution of $0.125 per unit; $0.50 per unit annualized

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream, stated, “We are pleased to report results for the second quarter of 2018. In the second quarter of 2018, we reported $14.7 million of EBITDA and $4.3 million of net income. We also announced a distribution of $0.125 per unit, representing an annualized yield of about 14%.”

For earnings history and earnings-related data on Navios Maritime Midstream Partners (NAP) click here.

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