Eagle Bulk Shipping Earnings: Here’s Why Shares are Down Now

Eagle Bulk Shipping Inc (NASDAQ:EGLE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.36%.

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Eagle Bulk Shipping Inc Earnings Cheat Sheet


Revenue: Decreased 0% to $362 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.79 per share. By that measure, the company beat the mean analyst estimate of $0.78. It missed the average revenue estimate of $380.26 million.

Quoting Management: “Our first quarter results were in-line with our plan,” said Tony Smeraglinolo, President and CEO of Engility. “Additionally, our cost savings initiatives are beginning to positively impact our margins and our ability to win new and recompete business. During the quarter, we won several major recompete contracts, which contributed to another solid quarter of funded orders. We attribute this success to our differentiated low-cost business model, our strong track record of delivering superior services to our customers and our exceptional alignment with our customers’ mission priorities.”

Key Stats (on next page)…

Revenue decreased 0% from $0 in the previous quarter. EPS decreased 66.81% from $2.38 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.67 to a profit $0.83. For the current year, the average estimate has moved up from a profit of $2.6 to a profit of $3.29 over the last ninety days.

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