Tsakos Energy Navigation: Digging into Its 2Q17 Results

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Tsakos Energy Navigation: Digging into Its 2Q17 Results PART 1 OF 6

Highlights of Tsakos Energy Navigation’s 2Q17 Results

2Q17 results

Tsakos Energy Navigation (TNP) missed its 2Q17 revenue estimate of $109 million. It reported revenues of $104 million. The company also missed its EBITDA (earnings before interest, tax, depreciation, and amortization) estimate of $58 million. The company earned an EBITDA of $54 million in 2Q17.

Highlights of 2Q17

  • Tsakos Energy Navigation reported an EBITDA of $115.4 million and net income of $21.1 million for 1H17.
  • The average time charter rate per vessel in 1H17 was $20,038.
  • It has a fleet utilization of 96.8%.
  • Tsakos Energy Navigation has secured 22 new charters since January 2017.
  • Tsakos Energy Navigation’s total contracted revenue is $1.4 billion—excluding profit sharing.
  • It has cash liquidity of $258.2 million as of June 30, 2017.

Highlights of Tsakos Energy Navigation&#8217;s 2Q17 Results

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Stock performance

As of September 19, 2017, Tsakos Energy Navigation’s stock price has fallen 3.4% since the beginning of the year. The following are the year-to-date stock performances of other crude (DBO) tanker companies:

  • Teekay Tankers (TNK) fell 3.41%.
  • Nordic American Tankers (NAT) fell 35.9%.
  • Frontline (FRO) fell 29.03%.
  • DHT Holdings (DHT) returned 0%.
  • Navios Maritime Midstream Partners (NAP) fell 30.3%.

Series overview

In this series, we’ll look at Tsakos Energy Navigation’s 2Q17 results and conference call highlights. We’ll analyze the company’s current position, management’s future plans, and discussions between management and analysts to gauge the company’s future.


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