Tsakos Energy Navigation (TNP) Tops Q1 EPS by 1c
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Tsakos Energy Navigation Reports Solid First Quarter 2016 Financial Results and Declares Next Dividend
May 31, 2016 8:39 AM EDTATHENS, GREECE -- (Marketwired) -- 05/31/16 -- Tsakos Energy Navigation Limited (NYSE: TNP)
FIRST QUARTER AND RECENT HIGHLIGHTS
Net income of $25.4 million or $0.25 per basic and diluted share EBITDA of $60 million -- All vessels earned positive EBITDA 95.3% utilization from 99.3% in the first quarter of 2015 due to accelerated dry dockings for regulatory upgradings Daily time charter equivalent ("TCE") revenues of $23,378 per ship against operating expenses of $7,890 per ship per day Charter coverage, to date, at 57.4% for 2016 -- Total fleet fixed minimum revenues at $1.5... More