Eagle Bulk Shipping Earnings: Here’s Why the Stock is Down 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 down 3.12%.
Eagle Bulk Shipping, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-1.92 in the quarter versus EPS of $-0.12 in the year-earlier quarter.
Revenue: Decreased 18.66% to $42.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS loss of $1.92 per share. By that measure, the company beat the mean analyst estimate of $-1.93. It beat the average revenue estimate of $42.79 million.
Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “Amid ongoing challenges in the dry bulk market, Eagle Bulk continues to execute an opportunistic, short-term chartering strategy. This approach maximizes revenue upside while ensuring Eagle Bulk is well-positioned when the market improves. At the same time, management has successfully reduced costs while maintaining operational excellence across the board.”
Key Stats (on next page)…