Genco Shipping & Trading Q1 2024 Adj EPS $0.44 Misses $0.52 Estimate, Sales $117.20M Beat $90.74M Estimate
Portfolio Pulse from Benzinga Newsdesk
Genco Shipping & Trading (GNK) reported Q1 2024 earnings of $0.44 per share, missing the consensus estimate of $0.52. However, their sales of $117.20M exceeded the $90.74M estimate, marking a 24.16% increase from the previous year.
May 08, 2024 | 8:49 pm
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NEUTRAL IMPACT
Genco Shipping & Trading's Q1 2024 earnings missed EPS estimates but beat revenue forecasts, with a significant year-over-year sales increase.
While GNK missed the EPS estimate, the substantial beat on revenue forecasts and the impressive year-over-year sales growth could mitigate negative investor sentiment. The mixed results present a neutral outlook in the short term as the revenue beat may offset concerns over the earnings miss.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100