Eagle Bulk Shipping Earnings: Here’s Why Shares are Up Now
Eagle Bulk Shipping, Inc. (NASDAQ:EGLE) had a loss 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 up 8.29%.
Eagle Bulk Shipping, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.18 in the quarter versus EPS of $-1.46 in the year-earlier quarter.
Revenue: Decreased 8.94% to $44.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS loss of $0.18 per share. By that measure, the company beat the mean analyst estimate of $-1.83. It beat the average revenue estimate of $39.98 million.
Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “While dry bulk fundamentals remain challenging, Eagle Bulk’s operating strategy is steady: a flexible and revenue-maximizing chartering strategy, a diversified cargo mix that promotes stability through a range of market conditions, and operational excellence and efficiency.”
Key Stats (on next page)…