Eagle Bulk Shipping Earnings: Here’s Why Investors are Happy Now

Eagle Bulk Shipping, Inc. (NASDAQ:EGLE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Eagle Bulk Shipping, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.08 in the quarter versus EPS of $-1.12 in the year-earlier quarter.

Revenue: Rose 37.25% to $72.22 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $-2.1. It beat the average revenue estimate of $38.27 million.

Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “Conditions in the dry bulk market remain challenging and, for the most part, unchanged from our most recent earnings report. Though vessel supply dynamics are steadily improving, they have not yet aligned with demand fundamentals. Our focus in this environment continues to emphasize a flexible, opportunistic chartering strategy, access to the relatively stable minor bulk trade, and operational excellence and efficiency.”

Key Stats (on next page)…

Revenue increased 68.74% from $42.8 million in the previous quarter. EPS increased to $0.08 in the quarter versus EPS of $-1.92 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $1.74 to a loss $1.96. For the current year, the average estimate has moved down from a loss of $6.46 to a loss of $7.38 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

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