Navios Maritime Midstream Partners (NAP) Tops Q4 EPS by 1c

Navios Maritime Midstream Partners (NYSE: NAP) reported Q4 EPS of $0.44, $0.01 better than the analyst estimate of $0.43. Revenue for the quarter came in at $25.84 million versus the consensus estimate of $24.13 million.

Highlights

• Net Income: $9.1 million in Q4; $27.1 million for FY
• Earnings per Common Unit: $0.44 in Q4; $1.33 for FY
• EBITDA: $19.4 million in Q4; $62.2 million for FY
• Operating Surplus: $12.9 million in Q4; $42.4 million for FY
• Profit sharing: $3.5 million in Q4; $8.0 million for FY
• Quarterly Cash Distribution of $0.4225 per unit; $1.69 per unit annualized
• 1.48x Total Unit Distribution Coverage for the quarter

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated “We are pleased to report net income of $27.1 million, or $1.33 per share, for 2015. Consequently, we announced a quarterly distribution of $0.4225 per unit, to shareholders of record on February 9, 2016. Our distribution coverage ratio is a healthy 1.48x for the quarter.”

Angeliki Frangou continued, “The collapse of oil prices has introduced significant volatility into the general climate. This price decline, generally good for transportation, has far reaching implications that has adversely affected the investment climate. Yet, Navios Midstream is a solid company and has neither any forward growth capex required nor any debt maturity until 2020. Navios Midstream has 100% of its fleet fixed for 2016 and 2017, with upside through profit sharing, which generated $0.39 net income per unit.”

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

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