Pyxis Tankers Down 0.44% To $4.65 After Earnings Beat

Pyxis Tankers Inc (PXS) beat out earnings estimates for Q4 2023 this afternoon.

Pyxis Tankers's earnings came in at an EPS of $0.38 per share, 52.00% higher than estimates for an EPS of $0.25 per share. The firm's earnings are down 28% since reporting $0.53 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus estimates for Pyxis Tankers revenue averaged out to $9 million, with the business managing to beat those expectations with reported fourth-quarter revenue of $13.2 million. The $4.2 million (47%) positive revenue surprise led to negative 28% growth year-over-year as the firm reported revenue of $18.4 million in its year-ago quarter. The lower earnings growth compared to revenue points to Pyxis Tankers not being able to improve its profit margin.

The stock is down 0.44% to $4.65 after the report.

Pyxis Tankers's profit margins took a hit as earnings fell at a faster pace than revenues.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 25.

Pyxis Tankers Inc is an international maritime transportation company that focuses on the product tanker sector. It owns a fleet that comprises double-hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.