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Tsakos Energy Navigation: Earnings Estimate for the First Quarter

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Updated

Revenue estimates

Wall Street analysts expect net revenue of $100.8 million for Tsakos Energy Navigation (TNP) in the first quarter. Its revenue was $106.6 million in the previous quarter and $138.4 million in the first quarter of 2017. It would be a 27.2% fall YoY (year-over-year) and a 5% fall sequentially.

Earnings sources

Tsakos Energy Navigation earns its revenue through operating crude oil tankers, including VLCCs (very large crude carriers), Suezmax vessels, Aframax vessels, and product tankers. The company operates most of its vessels in the time charter market and a few in the spot market.

Long-term estimates

For 2018, analysts estimate TNP’s revenue at $424 million, which is 2% higher than 2017 revenue of $415 million.

Peer revenues

  • Analysts expect Teekay Tankers’ (TNK) 2018 revenues to be $360 million, which is 16.4% lower YoY (year-over-year).
  • Analysts expect Euronav’s (EURN) 2018 revenues to be $437 million, which is a 14.7% decrease YoY.
  • DHT Holdings’ (DHT) 2018 revenues are estimated at $196 million, an 18.8% fall YoY.
  • Nordic American Tankers’ (NAT) 2018 revenues are estimated at $141.5 million, which is 8.5% lower YoY.

EBITDA estimate

Analysts’ EBITDA estimate for TNP for the first quarter is $48.7 million, which would mean a 7% fall from $52.4 million in the previous quarter.

For the second quarter, its EBITDA estimate is $51.5 million. The estimate for 2018 is $211.4 million compared to $215 million in 2017. Based on its fourth-quarter EBITDA, its margin was 40.7%.

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