Eagle Bulk Shipping Earnings: Here’s Why Investors are Happy Now
Eagle Bulk Shipping, Inc. (NASDAQ:EGLE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Eagle Bulk Shipping, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.08 in the quarter versus EPS of $-1.12 in the year-earlier quarter.
Revenue: Rose 37.25% to $72.22 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $-2.1. It beat the average revenue estimate of $38.27 million.
Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “Conditions in the dry bulk market remain challenging and, for the most part, unchanged from our most recent earnings report. Though vessel supply dynamics are steadily improving, they have not yet aligned with demand fundamentals. Our focus in this environment continues to emphasize a flexible, opportunistic chartering strategy, access to the relatively stable minor bulk trade, and operational excellence and efficiency.”
Key Stats (on next page)…