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Scorpio Bulkers: 2Q Earnings Snapshot

July 22, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SALT at https://www.zacks.com/ap/SALT

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