Eagle Bulk Shipping Earnings: Here’s Why the Stock is Down 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 down 3.12%.

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Eagle Bulk Shipping, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-1.92 in the quarter versus EPS of $-0.12 in the year-earlier quarter.

Revenue: Decreased 18.66% to $42.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Eagle Bulk Shipping, Inc. reported adjusted EPS loss of $1.92 per share. By that measure, the company beat the mean analyst estimate of $-1.93. It beat the average revenue estimate of $42.79 million.

Quoting Management: Sophocles N. Zoullas, Chairman and CEO, commented, “Amid ongoing challenges in the dry bulk market, Eagle Bulk continues to execute an opportunistic, short-term chartering strategy. This approach maximizes revenue upside while ensuring Eagle Bulk is well-positioned when the market improves. At the same time, management has successfully reduced costs while maintaining operational excellence across the board.”

Key Stats (on next page)…

Revenue decreased 8.64% from $46.85 million in the previous quarter. EPS decreased to $-1.92 in the quarter versus EPS of $-1.77 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 $1.16 to a loss $1.84. For the current year, the average estimate has moved down from a loss of $5.39 to a loss of $5.53 over the last ninety days.

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