Nordic American Tankers Q3 EPS $0.04 Misses $0.05 Estimate, Sales $48.04M Miss $59.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Nordic American Tankers (NYSE:NAT) reported Q3 earnings of $0.04 per share, missing the consensus estimate of $0.05 by 20%. Sales were $48.04M, falling short of the $59.14M estimate by 18.78%, but marked a 1.38% increase from the same period last year.
November 29, 2023 | 11:59 am
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NEGATIVE IMPACT
Nordic American Tankers reported lower-than-expected Q3 earnings and sales, missing estimates which could lead to negative investor sentiment in the short term.
Missing both earnings and sales estimates is typically seen as a negative indicator for a company's financial performance and often results in a negative short-term reaction in the stock market. The fact that this is a year-over-year decrease in earnings per share further compounds the potential negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100