NEW YORK (AP) _ Genco Shipping & Trading Ltd. (GNK) on Wednesday reported a loss of $1.1 million in its second quarter.

The New York-based company said it had a loss of 3 cents per share. Earnings, adjusted to extinguish debt and for asset impairment costs, were 10 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The transporter of drybulk cargo posted revenue of $86.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $60 million.

Genco Shipping shares have climbed roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.49, an increase of 33 percent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GNK at