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Tsakos Energy Navigation: Earnings Highlights

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Earnings highlights

  • Tsakos Energy Navigation’s (TNP) net income for the first nine months of 2016 was $43.8 million. Its EBITDA (earnings before interest, tax, depreciation, and amortization) was $151 million for the same period.
  • Its total fleet contracted revenue is $1.4 billion with average fleet charter employment of 2.8 years.
  • The company declared a dividend of $0.05 per share.
  • Tsakos has a cash liquidity of $229 million as of September 30, 2016.

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What’s in this series?

In this series, we’ll look at Tsakos Energy Navigation’s 3Q16 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. We’ll also take a detailed look at management’s view of the crude oil tanker industry.

Stock performance

It’s important to note that 2016 hasn’t been a great year for crude oil tanker investors. All of the crude oil tanker stocks had negative year-to-date returns. The following are the stock returns on November 30, 2015, compared to prices at the beginning of the year.

  • Frontline (FRO) fell 49.0%.
  • Teekay Tankers (TNK) fell 65.0%.
  • General Maritime Partners (GNRT) fell 56.0%.
  • Tsakos Energy Navigation (TNP) fell 44.0%.
  • Nordic American Tankers (NAT) fell 43.0%.
  • Navios Maritime Midstream Partners (NAP) fell 9.0%.
  • DHT Holdings (DHT) fell 52.0%.
  • Euronav (EURN) fell 46.0%.

If you’re interested in broad exposure to the industrial sector, you could invest in the SPDR Dow Jones Industrial Average ETF (DIA).

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