Seaspan: 2Q Earnings Snapshot
HONG KONG (AP) _ Seaspan Corp. (SSW) on Wednesday reported second-quarter profit of $40 million.
On a per-share basis, the Hong Kong-based company said it had net income of 10 cents. Earnings, adjusted for non-recurring costs, were 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The shipping company posted revenue of $275.4 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $277.7 million.
Seaspan expects full-year revenue of $1.12 billion.
Seaspan shares have increased 25% since the beginning of the year. The stock has climbed 13% in the last 12 months.