Genco Shipping: Q3 Earnings Snapshot

Associated Press Finance
1 min read
0
In this article:

NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported a loss of $32 million in its third quarter.

On a per-share basis, the New York-based company said it had a loss of 75 cents. Losses, adjusted for asset impairment costs and non-recurring costs, were 9 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.

The transporter of drybulk cargo posted revenue of $83.4 million in the period. Its adjusted revenue was $49.1 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $48 million.

_____

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

Advertisement

Recommended Stories