Tsakos Energy Navigation Ltd (NYSE:TNP) reported Q3 FY23 results with higher voyage revenue of $186.659 million versus consensus of $166.139 million but missed EPS estimates with $0.83 against the expected $1.24. The company cited seasonal softness in tanker markets due to refinery maintenance. Adjusted EBITDA and operating income fell compared to the previous year, but fleet utilization was high at 96.1%. Tsakos secured 26 new charters, contributing to a $1.4 billion revenue backlog, and maintained strong cash reserves of $394 million. The company will pay a dividend of $0.30 per share on December 20, 2023. Despite the positive revenue, TNP shares dropped by 6.99% to $19.82.