Navios Maritime Partners Earnings: Here’s Why the Stock is Rising Now
Navios Maritime Partners L.P. (NYSE:NMM) 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 up 1.21%.
Navios Maritime Partners L.P. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20% to $0.24 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Rose 4.77% to $50.28 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Navios Maritime Partners L.P. reported adjusted EPS income of $0.24 per share. By that measure, the company missed the mean analyst estimate of $0.25. It beat the average revenue estimate of $49.6 million.
Quoting Management: Angeliki Frangou, Chairman and Chief Executive Officer of Navios Partners, stated: “Navios Partners has become a key player in the dry bulk industry. Consistent performance has enabled us to position our business well in the face of challenging commodities markets. We have found that Navios Partners’ stability and brand is a competitive advantage in dealing with parties who are considering long-term exposure.”
Key Stats (on next page)…