Navios Maritime Partners (NMM) Reports Q1 Revenues Beat

Navios Maritime Partners (NYSE: NMM) reported Q1 revenue for the quarter came in at $108.8 million versus the consensus estimate of $67.55 million.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated, “I am pleased with the results for the first quarter of 2021. During the first quarter, total revenue of Navios Partners and Navios Containers, was $108.8 million and total adjusted EBITDA was $56.4 million.”

Angeliki Frangou continued, “Navios Partners today is a top-ten publicly listed dry cargo fleet company with 89 vessels comprised of 51 dry bulk vessels and 38 containerships. We expect that our diversified fleet will benefit from the distinct industry drivers while also offering some insulation against cyclicality. For example, given the ongoing strength in the container industry, we fixed about 89% of available days. In contrast, in the dry bulk segment, we have over 62% of available days open or on index linked charters so that we can capture further market firming. We believe these two segments housed in a single company strengthen our business.”

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

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