logo
Share SHARE
FONT-SIZE Plus   Neg

Tsakos Energy Navigation Turns To Profit In Q1; Shares Rise - Quick Facts

Tsakos Energy Navigation Limited (TNP) reported that its first-quarter net income attributable to the company was $1.02 million or $0.02 per share, compared to a net loss of $8.81 million or $0.19 per share in the year ago quarter. The results were mainly due to increases in product carrier rates, and ability to capitalize on significant presence in this sector and to the impact of the LNG carrier Neo Energy. Significant savings in voyage expenses, operating costs, depreciation and interest also provided important contributions, the company said.

Voyage revenues declined to $97.69 million from last year's $102.23 million.

The Company's Board of Directors declared a quarterly dividend of $0.05 per share of common stock outstanding to be paid on September 12, 2013 to shareholders of record as of September 9, 2013.

TNP is currently trading at $5.05, up $0.85 or 20.24%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal Communications Commission Chairman Ajit Pai has announced plans to repeal the net neutrality rules implemented under President Barack Obama. Pai, who was appointed by President Donald Trump, said he circulated his draft order to his fellow FCC commissioners Tuesday morning, with the order... Reflecting expectations the House Republican tax reform bill would provide a relatively modest boost to economic growth, a new analysis by the Tax Policy Center found that the legislation would add about $1.3 trillion to the national debt over a decade. Uber has been hit with an $8.9 million civil penalty by Colorado for allegedly allowing drivers with questionable backgrounds to work for the ride-hailing company. The Colorado Public Utilities Commission or PUC said it has issued a Civil Penalty Assessment Notice or CPAN totaling $8.9 million to Rasier LLC, the parent company of Uber.
comments powered by Disqus
Follow RTT