GNK - Genco Shipping Non-GAAP EPS of $1.00 misses by $0.06 revenue of $135.97M beats by $42.29M
- Genco Shipping press release ( NYSE: GNK ): Q3 Non-GAAP EPS of $1.00 misses by $0.06 .
- Revenue of $135.97M (-12.4% Y/Y) beats by $42.29M .
- Voyage revenues totaled $136.0 million and net revenue (voyage revenues minus voyage expenses, charter hire expenses and realized gains or losses on fuel hedges) totaled $89.8 million during Q3 2022.
- The company's average daily fleet-wide time charter equivalent, or TCE, for Q3 2022 was $23,624, its sixth straight quarter with a TCE greater than $20,000 per day.
- Recorded adjusted EBITDA of $60.3 million during Q3 2022
- Increased liquidity position to $287.4 million as of September 30, 2022
- Outlook: "We estimate our TCE to date for Q4 2022 to be $20,451 for 77% of our owned fleet available days, based on both period and current spot fixtures," the company said.
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Genco Shipping Non-GAAP EPS of $1.00 misses by $0.06, revenue of $135.97M beats by $42.29M