Navios Maritime Containers Inc. (NMCI) Misses Q1 EPS by 14c on Revenues of $40.3M

Navios Maritime Containers Inc. (NASDAQ: NMCI) reported Q1 EPS of $0.14, $0.14 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $40.3 million, versus $31.83 million reported last year.

Angeliki Frangou, Chairman and Chief Executive Officer, stated, "While the humanitarian crises caused by the pandemic has been heart breaking, we have also been strengthened by the courage and compassion of the first responders, particularly the many dedicated health care workers. At any given time, our vessels carry about 1,000 people. Keeping these people safe and these vessels moving in and out of quarantined countries, with ever-changing rules and challenges, requires the immediate input of many disciplines. I am proud of the members of the Navios family as they have shown admirable resilience during this unprecedented time of uncertainty, and we have taken the necessary measures to ensure the safety of our people while keeping our fleet functioning."

Angeliki Frangou continued, "I am pleased with our results for the first quarter of 2020. For the first quarter, Navios Containers reported $17.8 million of EBITDA, $5.0 million of Net Income and $0.14 of Net Earnings per common unit. We entered 2020 relatively well positioned. However, economic activity and global trade in the first half of 2020 is being significantly impacted by the pandemic. The duration of the downturn and timing of the recovery remain uncertain given the unique nature of the pandemic. However, the IMF projects a 5.8% increase in global GDP in 2021 after a 3% decrease in 2020."

For earnings history and earnings-related data on Navios Maritime Containers Inc. (NMCI) click here.

You May Also Be Interested In

• Micron offers Taiwan workers up to 68-month bonuses as strike threat looms
• DA Davidson Reiterates Buy Rating on Oracle (ORCL) Following Q1 Print
• William Blair Reiterates Outperform Rating on SpaceX (SPCX)