Baltic Trading Limited Earnings: Here’s Why Investors are Buying Shares Now

Baltic Trading Limited (NYSE:BALT) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.61%.

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Baltic Trading Limited Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.23 in the quarter versus EPS of $-0.20 in the year-earlier quarter.

Revenue: Decreased 4.61% to $6 million from the year-earlier quarter.

Quoting Management: John C. Wobensmith, President and Chief Financial Officer, commented, “During the first quarter, we continued to implement our fleet deployment strategy that provides the ability to enhance future performance when market conditions in the drybulk industry improve. We also maintained a lean cost structure and a balance sheet with low debt. For the first quarter, we declared a dividend of $0.01 per share, representing our twelfth consecutive dividend since going public in March 2010. Management remains focused on employing our vessels on contracts with leading international charterers at rates closely linked to the various Baltic Dry indices and maximizing the utilization of our modern, high-quality fleet.”

Key Stats (on next page)…

Revenue decreased 15.73% from $7.12 million in the previous quarter. EPS decreased to $-0.23 in the quarter versus EPS of $-0.19 in the previous quarter.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)