Scorpio Bulkers: 2Q Earnings Snapshot
MONACO (AP) _ Scorpio Bulkers Inc. (SALT) on Monday reported second-quarter net income of $35 million.
The company said it had profit of 50 cents per share. Losses, adjusted for non-recurring gains, were 15 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The dry bulk ocean shipper posted revenue of $49.1 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $49.5 million.
Scorpio Bulkers shares have risen 13% since the beginning of the year. The stock has declined 14% in the last 12 months.