Navios Maritime Partners (NMM) Tops Q3 EPS by $1.33, Revenues Beat

Navios Maritime Partners (NYSE: NMM) reported Q3 EPS of $1.67, $1.33 better than the analyst estimate of $0.34. Revenue for the quarter came in at $63.5 million versus the consensus estimate of $57.08 million.

• Revenue:
  • $63.5 million for Q3 2019
  • $158.1 million for the nine months 2019
• Net cash from operating activities:
  • $32.7 million for Q3 2019
  • $47.1 million for the nine months 2019
• Adjusted EBITDA:
  • $41.3 million for Q3 2019
  • $86.3 million for the nine months 2019
• Completion of Term Loan B refinancing
  • $350.8 million commercial banks/sale and leaseback financing
  • $67.7 million cash from balance sheet
• Diversified debt maturity profile through 2030
  • No debt maturities until Q3 2021
• Returning capital to Unitholders
  • $3.4 million cash distribution for Q3 ($0.30 per unit)

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated, “I am pleased with the strong financial results for the third quarter of 2019. Navios Partners reported $41.3 million in EBITDA, $16.9 million in Net Income and $1.67 in Earnings per Unit. Navios Partners also declared a quarterly distribution of $0.30 cents per unit, representing a current yield of approximately 6%.”

Angeliki Frangou continued, “Following the refinancing of its Term Loan B, Navios Partners has a strong balance sheet and is competitively positioned in a healthy charter market. Navios Partners earned a TCE rate of $18,778 per day for the third quarter, and virtually all of our 37 vessels are on the water generating revenue.”

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

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