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

Eagle Bulk Shipping, Inc. (NASDAQ:EGLE) had a loss 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 up 8.29%.

Eagle Bulk Shipping, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.18 in the quarter versus EPS of $-1.46 in the year-earlier quarter.

Revenue: Decreased 8.94% to $44.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS loss of $0.18 per share. By that measure, the company beat the mean analyst estimate of $-1.83. It beat the average revenue estimate of $39.98 million.

Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “While dry bulk fundamentals remain challenging, Eagle Bulk’s operating strategy is steady: a flexible and revenue-maximizing chartering strategy, a diversified cargo mix that promotes stability through a range of market conditions, and operational excellence and efficiency.”

Key Stats (on next page)…

Revenue decreased 38.8% from $72.22 million in the previous quarter. EPS decreased to $-0.18 in the quarter versus EPS of $-1.87 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 loss of $1.89 to a loss $1.76. For the current year, the average estimate has moved up from a loss of $7.38 to a loss of $6.25 over the last ninety days.

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