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Earnings Review and Free Research Report: DryShips’ Revenues Increased 4%

Research Desk Line-up: Hoegh LNG Partners Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on DryShips Inc. (NASDAQ: DRYS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=DRYS, following the Company's posting of its financial results on August 30, 2017, for the second quarter of the fiscal year 2017. The Company's Drybulk segment's voyage revenue increased 80.6%. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Shipping industry. Pro-TD has currently selected Hoegh LNG Partners LP (NYSE: HMLP) for due-diligence and potential coverage as the Company reported on August 24, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Hoegh LNG Partners when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DRYS; also brushing on HMLP. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=DRYS

http://protraderdaily.com/optin/?symbol=HMLP

Earnings Reviewed

For the three months ended June 30, 2017, DryShips' revenues increased 4% to $16.38 million from $15.75 million in Q2 FY16. During Q2 FY17, DryShips' adjusted EBITDA was negative $10.77 million compared to negative $7.56 million in Q2 FY16.

During Q2 FY17, the Company's D&A expenses increased 166% to $2.29 million from $861,000 in Q2 FY16. During Q2 FY17, the Company's G&A expenses decreased 12.9% to $7.08 million from $8.13 million in Q2 FY16. For the reported quarter, DryShips' vessel operating expenses increased 20% to $15.27 million from $12.73 million in Q2 FY16.

During Q2 FY17, the Company's operating loss was $13.22 million compared to an operating loss of $10.38 million in Q2 FY16. For the reported quarter, the Company's net interest expenses increased 10.7% to $2.27 million from $2.05 million in Q2 FY16.

During Q2 FY17, DryShips' net loss was $15.64 million compared to net loss of $9.11 million in Q2 FY16.

On August 29, 2017, the Company announced the closing of a previously announced sale of common shares of the Company to entities affiliated with its Chairman and Chief Executive Officer, Mr. George Economou, for an aggregate consideration of $100 million at a price of $2.75 per share.

As of August 29, 2017, the Company owns 49% of Heidmar Holdings LLC, pursuant to a joint venture with Morgan Stanley.

Segment Details

Drybulk - For the reported quarter, DryShips' Drybulk segment's voyage revenue increased 80.6% to $12.23 million from $6.77 million in Q2 FY16. For the reported quarter, the segment's voyage expenses increased 170.5% to $2.38 million from $880,000 in Q2 FY16. During Q2 FY17, the segment's fleet utilization was 100% compared to 95.4% in Q2 FY16. During Q2 FY17, the segment's daily vessel operating expenses increased 31.7% to $6,320 from $4,798 in Q2 FY16.

Balance Sheet

As on June 30, 2017, DryShips' cash and cash equivalents including restricted cash increased 55.2% to $119.18 million from $76.77 million in Q4 FY16.

During Q2 FY17, the Company's total debt increased 73.7% to $231.83 million from $133.43 million in Q4 FY16.

During Q2 FY17, the Company's total assets increased 282.0% to $740.07 million from $193.73 million in Q4 FY16.

Stock Performance

At the close of trading session on Wednesday, September 20, 2017, DryShips' stock price declined 1.88% to end the day at $2.48. A total volume of 1.54 million shares were exchanged during the session. The Company's shares have a dividend yield of 2752.42%. At Wednesday's closing price, the stock's net capitalization stands at $168.44 million.

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SOURCE: Pro-Trader Daily