Navios Maritime Partners LP (NMM) said before open Tuesday that it earned $2.13 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $309.5 million, missing estimates by $2.5 million.
In the same quarter a year ago, the company earned $2.78 per share on revenue of $236.6 million.
The stock is down 0.77% to $22.42 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Navios Maritime Partners LP has performed a little below average during the past few months. Before the report, Navios Maritime Partners LP received a Long-Term Technical Rank by InvestorsObserver of 26, putting it in the bottom half of stocks. The firm set a 52-week low on July 6, 2022 at $19.71 and set a 52-week high on June 2, 2022 at $32.25.
Navios Maritime Partners LP is a seaborne shipping company. It owns and operates dry cargo and container vessels with the primary long-term and staggered expiration charters. The firm's fleet consists of Ultra- Handymax, Panamax, Capsize, and Container vessels and categorized in Drybulk and Container vessels. It earns revenue through chartering of vessels, voyage contracts.
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Navios Maritime Partners LP Down 0.77% To $22.42 After Earnings Miss
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