Tsakos Energy Navigation Q1: Earnings Beat, Considers Extra Dividend & More
Portfolio Pulse from Akanksha Bakshi
Tsakos Energy Navigation Ltd. (NYSE:TNP) reported Q1 FY23 Voyage revenue of $261.21 million, a 74.5% Y/Y increase, beating the consensus of $209.15 million. EPS improved to $5.69, beating the consensus of $2.79. The company will distribute an annual dividend of $0.60 per common share for FY23, a 140% increase from 2022, and may consider an extra dividend within 2023.
May 30, 2023 | 4:16 pm
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POSITIVE IMPACT
Tsakos Energy Navigation reported strong Q1 FY23 results, beating revenue and EPS consensus. The company will distribute an increased annual dividend of $0.60 per share for FY23 and may consider an extra dividend within 2023.
Tsakos Energy Navigation's strong Q1 FY23 results, beating both revenue and EPS consensus, indicate a positive outlook for the company. The increased annual dividend of $0.60 per share for FY23 and the possibility of an extra dividend within 2023 signal confidence in the company's financial performance, which is likely to have a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100