Aegean Marine Petroleum Network Earnings: Here’s Why Investors are Not Excited Now
Aegean Marine Petroleum Network Inc. (NYSE:ANW) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 6.61%.
Aegean Marine Petroleum Network Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 13.33% to $0.13 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Decreased 10.39% to $1.69 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Aegean Marine Petroleum Network Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.17. It beat the average revenue estimate of $1.69 billion.
Quoting Management: E. Nikolas Tavlarios, President, commented, “We extended our track record of operational excellence and strong financial performance in the second quarter, which represented Aegean’s tenth consecutive quarter of profitability. During the quarter we entered new markets to strengthen our revenue base, strategically positioning Aegean for continued success as the market emerges from the current shipping cycle.”
Key Stats (on next page)…