U.S. Markets open in 5 hrs 30 mins

Tsakos: 4Q Earnings Snapshot

ATHENS, Greece (AP) _ Tsakos Energy Navigation Ltd. (TNP) on Friday reported a loss of $63.1 million in its fourth quarter.

On a per-share basis, the Athens, Greece-based company said it had a loss of 84 cents. Losses, adjusted for asset impairment costs, were 9 cents per share.

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

The oil and gas shipping company posted revenue of $153.8 million in the period. Its adjusted revenue was $119 million, also missing Street forecasts. Five analysts surveyed by Zacks expected $121.6 million.

For the year, the company reported that its loss widened to $99.2 million, or $1.53 per share. Revenue was reported as $404.5 million.

The company's shares closed at $3.09. A year ago, they were trading at $3.30.


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