Navios Maritime Acquisition (NNA) Reports Q1 EPS of $0.94, Revenues Beat

May 6, 2020 7:56 AM EDT

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Navios Maritime Acquisition (NYSE: NNA) reported Q1 EPS of $0.94, versus $0.04 reported last year. Revenue for the quarter came in at $97.9 million versus the consensus estimate of $85.45 million.

  • Revenue : 26.9% increase in Q1 2020 revenue to $97.9 million
  • Net Cash from Operating Activities: $30.5 million in Q1 2020
  • Adjusted EBITDA: 36.3% increase in Q1 2020 Adjusted EBITDA to $56.2 million
  • Liquidation of Navios Europe II Inc. expected in Q2 2020
  • Returning capital to stockholders: Quarterly dividend: $0.30 per share

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “While the humanitarian crises caused by the Pandemic has been heartbreaking, we have also been strengthened by the courage and compassion of the first responders, particularly the many dedicated heath care workers. At any given time, our seagoing vessels carry over 1,000 people. Keeping these people safe and these vessels moving in and out of quarantined countries, with ever-changing rules and problems, 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. We have taken the necessary measures to ensure safety of our people while keeping our fleet functioning.”​

Angeliki Frangou continued, “I am pleased with our results for the first quarter of 2020. During the quarter, Navios Acquisition recorded revenue of $97.9 million and adjusted EBITDA of $56.2 million, representing increases of about 27% and 36%, respectively, over the first quarter of 2019. Navios Acquisition also recorded adjusted net income of $14.9 million, or $0.95 per share, for the first quarter of 2020. We declared a quarterly distribution of $0.30 per share for the first quarter of 2020.”​

For earnings history and earnings-related data on Navios Maritime Acquisition (NNA) click here.

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