STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Eagle Bulk Shipping Inc. (EGLE) on Thursday reported fourth-quarter earnings of $23.3 million.
On a per-share basis, the Stamford, Connecticut-based company said it had net income of $1.50. Earnings, adjusted for non-recurring costs and asset impairment costs, were $2.28 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.
The shipping company posted revenue of $151.4 million in the period. Its adjusted revenue was $108.8 million, also missing Street forecasts. Three analysts surveyed by Zacks expected $116.1 million.
For the year, the company reported profit of $248 million, or $15.57 per share. Revenue was reported as $556.5 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EGLE at https://www.zacks.com/ap/EGLE
