Scorpio Bulkers (SALT) Posts Q1 Loss of 8c/Share

Scorpio Bulkers (NYSE: SALT) reported Q1 EPS of ($0.08), $0.06 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $5.47 million versus the consensus estimate of $4.41 million.

On April 24, 2014, the Company received a commitment from a leading European financial institution for a Loan Facility (the Facility) of up to $39.6 million. The Facility will be used to finance up to 55% of the fair market value upon delivery of two Kamsarmax vessels currently under construction. The Facility has a final maturity of five years from the signing of the facility documentation. The terms and conditions of this commitment are consistent with those of the Company's existing credit commitments. The closing of the Facility remains subject to customary conditions precedent, including negotiation and execution of final documentation.

For earnings history and earnings-related data on Scorpio Bulkers (SALT) click here.

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