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DryShips, Inc. (NASDAQ:DRYS) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.55%.
DryShips, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 13.83% to $282.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: DryShips, Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It missed the average revenue estimate of $294.3 million.
Quoting Management: George Economou, Chairman and Chief Executive Officer of the Company, commented:
“We continue to be bearish about the short-term performance of the shipping markets. Both tanker and drybulk spot charter rates continue to hover around historic lows. Unfortunately this comes at a time when most of our lucrative legacy charters expire.”
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