Eagle Bulk Shipping: 3Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Eagle Bulk Shipping Inc. (EGLE) on Tuesday reported third-quarter net income of $2.6 million, after reporting a loss in the same period a year earlier.
The Stamford, Connecticut-based company said it had profit of 4 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The shipping company posted revenue of $69.1 million in the period. Its adjusted revenue was $54 million, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $57.5 million.
In the final minutes of trading on Tuesday, the company’s shares hit $4.97. A year ago, they were trading at $4.62.