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Scorpio Bulkers: 3Q Earnings Snapshot

MONACO (AP) _ Scorpio Bulkers Inc. (SALT) on Monday reported a loss of $354,000 in its third quarter.

The company said it had a loss of 1 cent per share. Earnings, adjusted for non-recurring costs, were 2 cents per share.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The dry bulk ocean shipper posted revenue of $62.5 million in the period. Its adjusted revenue was $62.4 million, also missing Street forecasts. Seven analysts surveyed by Zacks expected $63.1 million.

Scorpio Bulkers shares have decreased 14 percent since the beginning of the year. The stock has decreased 23 percent in the last 12 months.


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