Recap: Genco Shipping & Trading Q3 Earnings
Portfolio Pulse from Benzinga Insights
Genco Shipping & Trading (NYSE:GNK) reported its Q3 earnings, beating estimated earnings by 18.18% with an EPS of $-0.09 versus an estimate of $-0.11. However, revenue was down $52.61 million from the same period last year. Last quarter, the company beat on EPS by $0.1, which was followed by a 4.32% drop in the share price the next day.
November 08, 2023 | 9:40 pm
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NEGATIVE IMPACT
Genco Shipping & Trading beat Q3 earnings estimates but reported a decrease in revenue. Past performance shows a drop in share price following a beat on EPS.
Genco Shipping & Trading beat earnings estimates, which is generally a positive signal. However, the company reported a significant decrease in revenue compared to the same period last year, which is a negative signal. Additionally, past performance shows that the company's share price dropped following a beat on EPS last quarter, which could indicate a similar trend this time.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100