uploads/2017/11/HIghlights-2.jpg

What to Expect from Tsakos Energy Navigation’s 3Q17 Results

By

Updated

3Q17 results

Tsakos Energy Navigation (TNP) will release its 3Q17 results on November 30, 2017. Among its peers, Tsakos Energy Navigation is one of the last companies to release its 3Q17 earnings.

Recap of 2Q17

  • In 1H17, Tsakos Energy Navigation reported an EBITDA (earnings before interest, tax, depreciation, and amortization) of $115.4 million and a net income of $21.1 million.
  • The average time charter rate per vessel in 1H17 was $20,038.
  • In the second quarter, Tsakos Energy Navigation had a fleet utilization of 96.8%.
  • Tsakos Energy Navigation secured 22 new charters in the first two quarters of 2017.
  • Tsakos Energy Navigation’s total contracted revenue was $1.4 billion—excluding profit sharing as of June 30, 2017.
  • It had cash liquidity of $258.2 million as of June 30, 2017.

Stock performance

Tsakos Energy Navigation stock reached a 52-week low of $4.06 on November 16, 2017. The company’s stock has fallen 9.6% as of September 27, 2017, from its price at the beginning of the year. The following are the YTD (year-to-date) stock returns of Tsakos Energy Navigation’s peers:

  • Nordic American Tankers (NAT) fell 49.6%.
  • Teekay Tankers (TNK) fell 24.7%.
  • Euronav (EURN) rose 10.6%.
  • DHT Holdings (DHT) fell 6.2%.
  • Navios Maritime Midstream Partners (NAP) fell 21.3%.
  • Gener8 Maritime Partners (GNRT) rose 5.6%.

Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA). SEA has fallen 0.32% YTD. If you’re interested in broad exposure to the industrials sector, you can invest in the SPDR Dow Jones Industrial Average ETF (DIA).

Series overview

In this series, we’ll take a look at what analysts expect from Tsakos Energy Navigation’s 3Q17 results. We’ll discuss the 3Q17 estimates, 2017 revenue and EBITDA, and analysts’ recommendations.

More From Market Realist