Navios Maritime Acquisition (NNA) Misses Q2 EPS by 2c, Revenues Beat
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Navios Maritime Acquisition (NYSE: NNA) reported Q2 EPS of ($0.14), $0.02 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $41.05 million versus the consensus estimate of $40.1 million.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, stated, “I am pleased with the results of the second quarter, for which we reported revenue of $41.5 million and Adjusted EBITDA of $11.0 million.”
Angeliki Frangou continued, “The oil transportation market continues to be under pressure. We are maintaining cost control, as operating costs are about 17% lower than our listed peers, based on 2017 data. We are also taking advantage of this market by returning capital to stockholders through dividend and stock repurchase programs. We declared a dividend of $0.02 for the second quarter and have repurchased approximately 7.6 million shares (about 5.0% of the shares outstanding) YTD 2018."
For earnings history and earnings-related data on Navios Maritime Acquisition (NNA) click here.
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