Tsakos Energy Navigation: 1Q17 Earnings Highlights



1Q17 results

On May 12, 2017, Tsakos Energy Navigation (TNP) announced its 1Q17 earnings. Its revenues were $138 million—$8 million more than 4Q16.

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Earnings highlights

  • Tsakos Energy Navigation’s net income was $17.5 million in 1Q17, while its EPS (earnings per share) was $0.16.
  • Its operating income was $30 million.
  • Its total fleet contracted revenues were $1.4 billion with an average fleet charter employment of 2.7 years.
  • Tsakos Energy Navigation’s dividends for the fourth quarter were $0.05 per share.
  • The company’s net debt-to-capital ratio as of March 31, 2016, was 54%.

Stock performance

During the week Tsakos Energy Navigation released its 1Q17 earnings, its stock price rose 5.6%—the highest weekly return among its peers. To learn more about the stock performance of Tsakos Energy Navigation’s peers, read Ups and Downs: Analyzing Crude Tanker Industry in Week 19.

Below are the returns of crude oil tanker companies in past month as of May 15, 2017:

  • Teekay Tankers (TNK) fell 2%.
  • Nordic American Tankers (NAT) fell 9.6%.
  • DHT Holdings (DHT) rose 0.67%.
  • Euronav (EURN) rose 1.3%.
  • Gener8 Maritime (GNRT) fell 0.37%.

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

What’s in this series?

In this series, we’ll look at Tsakos Energy Navigation’s 1Q17 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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