Navios Maritime Partners Q1: Earnings Miss, 31% Revenue Growth, Modernizing Fleet & More
Portfolio Pulse from Lekha Gupta
Navios Maritime Partners (NMM) reported Q1 2023 revenue growth of 30.8% Y/Y to $309.5 million, missing the consensus of $312 million. Adjusted EPS was $2.13, missing the consensus of $3.16. The company is modernizing its fleet by selling old vessels and acquiring new ones, with a goal to reduce leverage so that net LTV falls within the range of 20% to 25%.
May 23, 2023 | 1:23 pm
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NEUTRAL IMPACT
Navios Maritime Partners missed Q1 2023 revenue and EPS consensus, but is modernizing its fleet and reducing leverage. Shares are trading higher by 0.71% at $22.75 premarket.
Navios Maritime Partners missed both revenue and EPS consensus for Q1 2023, which could have a negative impact on the stock price. However, the company is taking steps to modernize its fleet and reduce leverage, which could be seen as a positive move by investors. As a result, the stock is trading higher premarket, indicating a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100