Did you doubt me? RF wins again...in SIZE....the Dry Bulk Shipping King will not be denied! Another one for the "bad guys"
* Q1 EPS $2.57 vs yr-ago $1.76 * Voyage rev up 34 pct to $92.8 mln * Shares up 11 pct in after-market trade
May 21 (Reuters) - Greek dry bulk carrier Excel Maritime Carriers Ltd (EXM.N) posted a more than three-fold jump in first-quarter profit, helped by a 34 percent rise in voyage revenue, sending its shares up as much as 11 percent.
The Athens-based company reported a quarterly profit of $118 million, or $2.57 a share, compared with $35.1 million, or $1.76 a share, last year. Voyage revenue came in at $92.8 million.
According to Reuters Estimates, the company earned 95 cents a share, trumping analysts' average estimate of 9 cents a share, both of which excludes an unrealized swap gain, a gain from the sale of a vessel and amortization of favourable and unfavourable time charters.
Total revenue nearly quadrupled to $222.1 million. First-quarter revenue includes $129.1 million in non-cash revenue.
Excel Maritime said it secured 67 percent of its operating days for 2009 and 55 percent for 2010 under time charter employment.
May 21 (Reuters) - Greek dry bulk carrier Excel Maritime Carriers Ltd (EXM.N) posted a more than three-fold jump in first-quarter profit, helped by a 34 percent rise in voyage revenue, sending its shares up as much as 11 percent.
The Athens-based company reported a quarterly profit of $118 million, or $2.57 a share, compared with $35.1 million, or $1.76 a share, last year. Voyage revenue came in at $92.8 million.
According to Reuters Estimates, the company earned 95 cents a share, trumping analysts' average estimate of 9 cents a share, both of which excludes an unrealized swap gain, a gain from the sale of a vessel and amortization of favourable and unfavourable time charters.
Total revenue nearly quadrupled to $222.1 million. First-quarter revenue includes $129.1 million in non-cash revenue.
Excel Maritime said it secured 67 percent of its operating days for 2009 and 55 percent for 2010 under time charter employment.
KILLER TRADE RF, YOU BEEN ON IT FOR MONTHS.
ReplyDeleteIt's about time that a blogger starts talking about oil, with some intelligence. Many are total forgetting about oil, including our gov't and if they don't act we will have oil at $125 soon, forget the $70. All it takes is a fighter jet to fly over Saudi and crude will jump to $200 overnight. I enjoy your commentary and totally agree with it. Seriously, people need to get over Gold and start buying oil. People don't fight wars over silver, cotton, wheat, gold, or soybeans but people kill each other over oil! I own UCO as well as shares of CVX and do not plan on selling them anytime soon. Accumulate them on dips!
ReplyDeleteThanks
ReplyDelete@oilboy - cool name...I always forget about UCO because I trade DXO but will look at it for some options. I love CVX...I really like Hess as well.