Aegean Marine Petroleum Network (ANW) reported quarterly earnings results on Wednesday, Aug-10-2016. The company said it had a profit of $0.32 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.23. The company posted revenue of $987.60 million in the period, compared to analysts expectations of $938.48 million. The company’s revenue was down -18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Aegean Marine Petroleum Network opened for trading at $6.75 and hit $6.89 on the upside on Monday, eventually ending the session at $6.77, with a gain of 0.89% or 0.06 points. The heightened volatility saw the trading volume jump to 1,66,582 shares. Company has a market cap of $339 M.
Aegean Marine Petroleum Network Inc. is an international marine fuel logistics company. The Company markets and physically supplies refined marine fuel and lubricants to vessels in port at sea and on rivers. As a physical supplier the Company procures marine fuel from refineries oil producers and other sources and resells and delivers the fuels from its bunkering vessels to a range of end users. As of December 31 2014 the Company owned and operated a fleet of 49 bunkering vessels and it chartered-in 13 bunkering vessels with an aggregate carrying capacity of approximately 324000 deadweight tonnage (dwt). The Company provides fueling services to various types of ocean-going and coastal vessels such as oil tankers container ships drybulk carriers cruise ships reefers liquefied natural gas (LNG) or liquefied petroleum gas (LPG) carriers car carriers and ferries. The Company also markets and distributes marine lubricants under the Alfa Marine Lubricants brand.