Eagle Bulk Shipping Inc. (EGLE) reported a first-quarter profit of $1.37 million or $0.08 per share, compared to a loss of $17.4 million or $1.11 per share in the comparable quarter last year.
On average, 7 analysts polled by Thomson Reuters expected the company to lose $2.10 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues, net of commissions, for the latest quarter spiked to $72.22 million from $52.61 million in the year-ago quarter, while three analysts had consensus revenue estimate of $38.27 million for the quarter.
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