Genco Shipping & Trading Limited (GNK) Misses Q1 EPS by 2c
Get Alerts GNK Hot Sheet
Price: $21.23 +0.05%
EPS Growth %: +683.3%
Financial Fact:
Operating income: -20.12M
Today's EPS Names:
WF, CWBC, GLTO, More
EPS Growth %: +683.3%
Financial Fact:
Operating income: -20.12M
Today's EPS Names:
WF, CWBC, GLTO, More
Join SI Premium – FREE
Genco Shipping & Trading Limited (NYSE: GNK) reported Q1 EPS of ($0.66), $0.02 worse than the analyst estimate of ($0.64). Revenue for the quarter came in at $38.2 million versus the consensus estimate of $38.85 million.
- Recorded a net loss of $15.6 million for the first quarter of 2017
- Basic and diluted loss per share of $0.47
- Adjusted basic and diluted loss of $22.0 million or $0.66 per share, excluding $6.4 million for gain on sale of vessels
- During the first quarter of 2017 we delivered four vessels to buyers
- Sold the Genco Wisdom, the Genco Carrier, the Genco Reliance and the Genco Success for total net proceeds of $12.7 million, which were recorded as cash on the balance sheet
- Expect to sell the Genco Prosperity, the last of the ten vessels identified for sale, for total net proceeds of $2.9 million
- Anticipate the vessel to be delivered to buyers by May 20, 2017, and net proceeds to be recorded as cash on the balance sheet
For earnings history and earnings-related data on Genco Shipping & Trading Limited (GNK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- L3Harris Technologies (LHX) Tops Q1 EPS by 15c; raises guidance
- SPS Commerce (SPSC) Tops Q1 EPS by 12c
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!