Tsakos: 1Q Earnings Snapshot
ATHENS, Greece (AP) _ Tsakos Energy Navigation Ltd. (TNP) on Thursday reported first-quarter net income of $11.2 million, after reporting a loss in the same period a year earlier.
The Athens, Greece-based company said it had profit of 1 cent per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 1 cent per share.
The oil and gas shipping company posted revenue of $147 million in the period. Its adjusted revenue was $115.5 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $122.8 million.
The company’s shares closed at $3.01. A year ago, they were trading at $3.68.