Navios Maritime Partners misses by $0.08, misses on revs:
- Reports Q1 (Mar) net of breakeven, $0.08 worse than the Capital IQ Consensus of $0.08; revenues fell 19.7% year/year to $45.6 mln vs the $53.37 mln Capital IQ Consensus
- The decrease was mainly attributable to the decrease in TCE to $15,524 per day for the three month period ended March 31, 2016, from $19,834 per day for the three month period ended March 31, 2015
- The above decrease in time charter and voyage revenues was primarily due to the decline in the freight market during 2016, as compared to the same period in 2015, and was partially mitigated by an increase in revenue due to the delivery of the MSC Cristina in the second quarter of 2015
- As a result of the vessel acquisition, available days of the fleet increased to 2,821 days for the three month period ended March 31, 2016, as compared to 2,772 days for the three month period ended March 31, 2015
- Total vessels operating at end of period rose to 31 from 30
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