NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported a loss of $6.8 million in its second quarter.
The New York-based company said it had a loss of 16 cents per share. Losses, adjusted for asset impairment costs, were 14 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The transporter of drybulk cargo posted revenue of $80.9 million in the period. Its adjusted revenue was $48.9 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $47.9 million.
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