MONACO (AP) _ Scorpio Bulkers Inc. (SALT) on Monday reported a loss of $3.5 million in its first quarter.
The company said it had a loss of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 6 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The dry bulk ocean shipper posted revenue of $50.4 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $52.1 million.
The company's shares closed at $4.75. A year ago, they were trading at $7.70.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SALT at https://www.zacks.com/ap/SALT