U.S. Markets close in 20 mins

Scorpio Bulkers: 4Q Earnings Snapshot

MONACO (AP) _ Scorpio Bulkers Inc. (SALT) on Monday reported a loss of $7.4 million in its fourth quarter.

On a per-share basis, the company said it had a loss of 11 cents. Earnings, adjusted for non-recurring costs, came to 2 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The dry bulk ocean shipper posted revenue of $65.2 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $71 million.

For the year, the company reported that its loss narrowed to $12.7 million, or 18 cents per share. Revenue was reported as $242.5 million.

Scorpio Bulkers shares have fallen almost 4 percent since the beginning of the year. The stock has dropped 36 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