UPDATE: Tsakos Posts Narrower Q1 Loss
Tsakos Energy Navigation Ltd (NYSE: TNP) posted a narrower first-quarter loss.
Tsakos posted a quarterly net loss of $8.8 million, or $0.19 per share, versus a year-ago loss of $9.4 million, or $0.20 per share.
Its voyage revenue climbed 3% to $102.2 million. However, analysts were expecting a loss of $0.23 per share on revenue of $70 million.
Total fleet utilization declined to 94.7% versus 98.9%.
Tsakos shares closed at $5.09 yesterday.
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