STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Eagle Bulk Shipping Inc. (EGLE) on Thursday reported first-quarter net income of $3.2 million.
The Stamford, Connecticut-based company said it had profit of 24 cents per share. Earnings, adjusted for non-recurring costs, came to 26 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The shipping company posted revenue of $105.2 million in the period. Its adjusted revenue was $71.7 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $66.1 million.
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