NNA - Navios Maritime Acquisition slips 15% on mixed Q3 results

Navios Maritime Acquisition ([[NNA]] -14.4%) reports Q3 results:Net income of $3.2M or $0.20 per share, swung from a loss of $56.4M, or $4.18 per share, a year ago. Compares with a consensus estimate of a loss of 85 cents per share.Adjusted net loss of $3.7M vs. $16.2M a year ago or -$0.23 vs. -$1.20 a year ago.Revenue of $78.8M increases 33.6% in the year ago quarter; current quarter includes $6.0M of revenue resulting from its acquisition of seven containers from Navios Europe II in June 2020, increase in market rates during the quarter, partially mitigated by the sale of three VLCCs in 2019. .Fleet utilization of 99.1% declined from 99.4% a year ago; vessels operating at year end increased to 50 from 39.Time charter equivalent rate increases to $16,870 from $15,349 a year ago.Time charter and voyage expenses decreased 51.9% to $2.6M from $5.4M.Adjusted EBITDA of $37.1M increases from $23.9M a year ago.During the quarter, declared a reduced quarterly dividend

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Navios Maritime Acquisition slips 15% on mixed Q3 results