Tsakos Energy Navigation Beats On Q2 Amid Positive Tanker Market Environment
Portfolio Pulse from Lekha Gupta
Tsakos Energy Navigation Ltd (NYSE:TNP) reported Q2 FY23 Voyage revenue of $221.45 million, surpassing the consensus of $174.10 million. EPS of $1.65 also beat the consensus of $1.60. The company's new charters secured over $1.5 billion in fleet revenue backlog. TNP will distribute a second semi-annual dividend of $0.30 per share in December 2023, following the $0.30 per share payment in June 2023 and an additional special dividend per share of $0.40. Despite the positive report, TNP shares are trading lower by 4.43% at $18.85.
September 07, 2023 | 4:58 pm
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Tsakos Energy Navigation reported strong Q2 results, beating revenue and EPS estimates. The company also secured significant new charters and announced a dividend. However, the stock is trading lower.
Despite the positive earnings report and dividend announcement, TNP's stock price is down. This could be due to a variety of factors not mentioned in the article, such as broader market trends or investor sentiment.
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IMPORTANCE 80
RELEVANCE 100