Genco Shipping & Trading Limited (GNK) Tops Q2 EPS by 2c, Beats on Revenues

Genco Shipping & Trading Limited (NYSE: GNK) reported Q2 EPS of ($0.42), $0.02 better than the analyst estimate of ($0.44). Revenue for the quarter came in at $45.37 million versus the consensus estimate of $42.27 million.

Second Quarter 2017 and Year-to-Date Highlights

• Recorded a net loss of $14.5 million for the second quarter of 2017
• Basic and diluted loss per share of $0.42
• Adjusted basic and diluted loss of $12.5 million or $0.36 per share, excluding $1.3 million for gain on sale of vessel and $3.3 million non-cash impairment charge1
• During the second quarter of 2017 we completed our vessel sale program
• Sold the Genco Prosperity for total net proceeds of $2.9 million

For earnings history and earnings-related data on Genco Shipping & Trading Limited (GNK) click here.

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