Navios Maritime Partners L.P. (NMM) reported quarterly earnings results on Thursday, Aug-11-2016. The company said it had a profit of $0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.04. The company posted revenue of $44.88 million in the period, compared to analysts expectations of $49.07 million. The company’s revenue was down -20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
Navios Maritime Partners L.P. opened for trading at $1.53 and hit $1.58 on the upside on Monday, eventually ending the session at $1.56, with a gain of 1.96% or 0.03 points. The heightened volatility saw the trading volume jump to 3,38,360 shares. Company has a market cap of $130 M.
Navios Maritime Partners L.P. (Navios Partners) is an international owner and operator of dry bulk and container vessels formed by Navios Holdings which is a vertically integrated seaborne shipping company. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities including iron ore coal grain fertilizer and also containers chartering its vessels under medium to long-term charters. The operations of Navios Partners are managed by Navios ShipManagement Inc. which is a subsidiary of Navios Holdings (the Manager) from its offices in Piraeus Greece Singapore and Monaco. The Company’s vessels are chartered-out under medium to long-term time charters with an average remaining term of approximately three years to a group including Cosco Bulk Carrier Co. Ltd. Mitsui O.S.K. Lines Ltd. Exelon Corporation Rio Tinto Hyundai Merchant Marine Co. Ltd and Mediterranean Shipping Co. S.A.