Castor Maritime Inc Up 91.01% To $1.05 After Earnings

Castor Maritime Inc (CTRM) reported better than expected earnings this morning for Q4 2022.

Castor Maritime Inc earnings per share (EPS) came in at of $0.36. Castor Maritime Inc's earnings rose 100% year-over-year as the firm reported an EPS of $0.18 in its year-ago quarter. The positive annual growth shows the Industrials company is performing well amid recent economic conditions.

Revenues were upbeat at $69.3 million. That revenue figure is an increase of 15.51% from the year ago quarter.

The stock is up 91.01% to $1.05 after the report.

Castor Maritime Inc's earnings expanded faster than revenues, signaling widening profit margins.

Trading in the five days leading up to the report earned Castor Maritime Inc a Bullish Sentiment Rank from InvestorsObserver.

Castor Maritime Inc has performed a little above average during the past few months. Before the report, Castor Maritime Inc received a Long-Term Technical Rank by InvestorsObserver of 55, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $1.41 on March 7, 2023 and set a 52-week low on April 20, 2022 at $-0.96.

Castor Maritime Inc is a provider of seaborne transportation services for dry bulk cargo, including iron ore, coal, grain, steel products, fertilizers, cement, bauxite, sugar, and scrap metal, among others. The firm operates under three reportable segments, as a provider of dry bulk commodities transportation services known as Dry bulk segment and as a provider of transportation services for crude oil named as Aframax/LR2 tanker segment and oil products as Handysize tanker segment. Substantial revenue is earned from the Dry bulk segment.