Navios Maritime Partners (NYSE: NMM) reported Q3 EPS of $0.78, $0.48 better than the analyst estimate of $0.30. Revenue for the quarter came in at $64.5 million versus the consensus estimate of $60.53 million.

• Revenue:° $64.5 million for Q3 2020° $157.5 million for the nine months 2020
• Net cash from operating activities:° $21.0 million for Q3 2020° $68.7 million for the nine months 2020
• Adjusted EBITDA:° $30.9 million for Q3 2020° $64.3 million for the nine months 2020
• Fleet Renewal:° Acquisition of two vessels with average age of 6 years° Sale of two vessels with average age of 12 years
• $0.05 per unit cash distribution for Q3 2020

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners stated, “I am pleased with our results for the third quarter of 2020. During the third quarter, Navios Partners reported adjusted EBITDA of $30.9 million and adjusted net income of $8.8 million.”

Angeliki Frangou continued, “Drybulk demand in the first half of 2020 suffered from the global shutdown. However, fiscal stimulus and other policy measures helped economies heal in the third quarter. We believe that this healing process continues as we learn to live within the constraints of the pandemic and as new purchasing patterns emerge. Looking forward, the economic outlook for 2021 is favorable as the IMF expects global GDP to grow by 5.2% and drybulk trade is projected to increase by 3.9%.”

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