Tsakos Energy Navigation Q4 EPS $0.85 Misses $1.71 Estimate, Sales $220.24M Beat $186.18M Estimate
Portfolio Pulse from Happy Mohamed
Tsakos Energy Navigation (TNP) reported Q4 earnings of $0.85 per share, missing the $1.71 estimate, and sales of $220.24M, beating the $186.18M estimate. Earnings decreased by 73.19% and sales by 18.51% from the same period last year.
March 27, 2024 | 3:03 pm
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NEGATIVE IMPACT
Tsakos Energy Navigation reported lower than expected Q4 earnings but exceeded sales forecasts. Earnings and sales both saw significant year-over-year declines.
The significant miss in earnings expectations, coupled with a year-over-year decrease in both earnings and sales, is likely to negatively impact investor sentiment and TNP's stock price in the short term. However, the beat on sales estimates might provide some buffer against a steep decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100