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Tsakos Energy Navigation’s Revenue and EBITDA Fell in 1Q16

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Dec. 4 2020, Updated 10:53 a.m. ET

Tsakos’s revenue and EBITDA fell

Tsakos Energy Navigation (TNP) has announced its 1Q16 revenues and earnings. Net revenues fell by 11.6% to $99 million from $112 million in the previous quarter and from $114 million in 1Q15.

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Tsakos’s 1Q16 EBITDA (earnings before interest, tax, depreciation, and amortization) was $59.5 million, which is 20% lower than the previous quarter at $74.7 million. In 1Q15, the company recorded an EBITDA of $71.8 million.

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Actual versus estimates

Tsakos’s 1Q16 revenue was 6.6% lower than the Wall Street estimate of $106 million. The company also fell short of EBITDA estimates. The actual EBITDA of $59.5 million was 8.3% lower than the estimated $64.9 million.

Year-to-date stock performance

Almost all the crude tanker companies posted negative year-to-date returns. Tsakos Energy Navigation was 21% down on June 1, 2016, as compared to its price at the start of the year. Stock returns of other crude tanker companies are as follows:

  • Teekay Tankers (TNK) was down by 49%.
  • Frontline (FRO) was down by 42%.
  • Nordic American Tankers (NAT) was down by 2%.
  • DHT Holdings (DHT) was down by 33%.
  • Euronav (EURN) was down by 25%.
  • Navios Maritime Partners (NAP) rose by 6%.

If you’re interested in broad exposure to the industrials sector, you can consider investing in the SPDR Dow Jones Industrial Average ETF (DIA).

What you’ll find in this series 

In this series, we’ll look at Tsakos’s 1Q16 results. We’ll analyze the company’s current position and management’s future plans. We’ll also take a detailed look at what analysts recommend for the company and if they changed any recommendations immediately after the first quarter results were declared.

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