Navios Maritime Holdings (NM) Reports Q1 Loss of $0.54, Revenues Miss

Navios Maritime Holdings (NYSE: NM) reported Q1 EPS of ($0.54). Revenue for the quarter came in at $117 million versus the consensus estimate of $146 million.

Revenue

• 28.4% increase
• $117.0 million in Q1 2021 compared to $91.1 million in Q1 2020

Angeliki Frangou continued, “The global pandemic is subsiding as the vaccines rollout gathers momentum. This along with accommodative policy measures are propelling economic activity. The IMF recently increased its 2021 GDP growth forecast 6%, giving us optimism about demand for drybulk vessels. In fact, we are enjoying this impact in our business, with our first quarter 2021 TCE rates more than double our first quarter 2020 TCE rates and about 9% higher sequentially over fourth quarter of 2020.”

For earnings history and earnings-related data on Navios Maritime Holdings (NM) click here.

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