NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported second-quarter profit of $23.5 million.
On a per-share basis, the New York-based company said it had profit of 54 cents. Earnings, adjusted for non-recurring gains, came to 46 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The transporter of drybulk cargo posted revenue of $107 million in the period. Its adjusted revenue was $76.8 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $75.4 million.
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