NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported a loss of $11.9 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 28 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The transporter of drybulk cargo posted revenue of $71.3 million in the period. Its adjusted revenue was $43.9 million, topping Street forecasts. Three analysts surveyed by Zacks expected $43.6 million.
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