Here is my estimate for Q2 (Q1 #'s in parentheses):
- revs of 17.0 million (15.7)
- utilization rate of 0.94
- EBITDA: 9.4 million (8.2)
- Income from OPS: 4.9 mill (3.8)
- EPS: 0.12 (0.08)
- free cash flow: 8.3 mill (7.1)
- free cash net of debt payment: 4.5 mill (3.3)
If anyone is interested how arrive at my numbers, message me and I'll pass along the spreadsheet.
But FREE's average daily charter rate is down about 5% on the Q3 charters they have announced and that was with the fixtures having been "largely entered into prior to the summer seasonal softening of the market"...according to the CEO.
With 40-45% of Q3 operating days still to be reported, let's hope the BHSI turns around soon!
I reckon Texansrockon is going to be about right on the eps for Q2+Q3. Any opionins on what the sp will do? Tenaedi says strong buy, I say hold. PhanManLover, you out there?
I'm getting eps $0.14+ for this quarter unless there's been some unusual expenses we weren't expecting.
A great performance, but as we've discussed, I'm not expecting a significant share price rise (>10%) from here unless BHSI and wider markets have stabilised...hence the flat, low volume market reaction to today's news release doesn't surprise me at all.
Current trend suggests to me $0.09 eps for Q3. CEO says shipping rates are experiencing "seasonal softening"...he may be right, but as I've stated ad nauseam, I say we're in an important technical testing zone, so I'm staying cautious...
BHSI still dropping...let's hope you're right about BHSI beginning to reverse this week.