NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported third-quarter earnings of $21.5 million.
The New York-based company said it had net income of 49 cents per share. Earnings, adjusted for non-recurring gains, came to 41 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 41 cents per share.
The transporter of drybulk cargo posted revenue of $99.3 million in the period. Its adjusted revenue was $71.1 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $73.4 million.
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