Gener8 Maritime Inc (GNRT) Releases Earnings Results, Beats Expectations By $0.12 EPS

Gener8 Maritime Inc (GNRT) reported quarterly earnings results on Wednesday, May-11-2016. The company said it had a profit of $0.78 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.66. The company posted revenue of $121.69 million in the period, compared to analysts expectations of $119.16 million. The company’s revenue was up 61.2% compared to the same quarter last year.

Gener8 Maritime Inc opened for trading at $7 and hit $7.5 on the upside on Tuesday, eventually ending the session at $7.28, with a gain of 3.70% or 0.26 points. The heightened volatility saw the trading volume jump to 1,23,718 shares. Company has a market cap of $602 M.

In a different news, on Jun 26, 2015, John P Tavlarios (COO) purchased 15,000 shares at $13.03 per share price.

Gener8 Maritime Inc. (Gener8 Maritime) provides international seaborne crude oil transportation services. The Company is engaged in the transportation of crude oil and petroleum products. Gener8 Maritime owns a fleet of around 46 tankers including 25 vessels on the water consisting of seven very large crude carriers (VLCCs) including Genmar Zeus Genmar Atlas Genmar Hercules Genmar Ulysses Genmar Poseidon Genmar Victory and Genmar Vision; 11 Suezmax vessels including Genmar Spartiate Genmar Maniate Genmar St. Nikolas Genmar George T Genmar Kara G Genmar Harriet G Genmar Orion Genmar Argus Genmar Spyridon Genmar Horn and Genmar Phoenix; four Aframax vessels including Genmar Strength Genmar Daphne Genmar Defiance and Genmar Elektra; two Panamax vessels including Genmar Companion and Genmar Compatriot and one Handymax vessel Genmar Consul. Its vessels have an aggregate carrying capacity of around 4.5MM deadweight tons (DWT).

Gener8 Maritime Inc

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