NAT - Nordic American Tankers GAAP EPS of $0.22 beats by $0.05 revenue of $87.1M beats by $5.53M

2023-05-22 05:36:38 ET

• Nordic American Tankers press release ( NYSE: NAT ): Q1 GAAP EPS of $0.22 beats by $0.05 .
• Revenue of $87.1M (+461.2% Y/Y) beats by $5.53M .
• Shares +2.4% PM.
• "The average time charter equivalent (TCE) for our fleet during the first quarter of 2023 came in at $51,902 per day per ship, up from the fourth quarter of $49,035 per day per vessel. The market has continued on a firm note although a seasonal softening has been evident so far in the second quarter of 2023. Sixty-three (63) per cent of our spot voyage days have been booked at an average TCE of $42,111 per day per ship. This number is on a discharge-to-discharge basis. We currently have fifteen of our nineteen vessels in the spot market. "

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