Recap: Tsakos Energy Navigation Q2 Earnings

Shares of Tsakos Energy Navigation TNP fell 0.6% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 1957.14% year over year to $2.60, which beat the estimate of $2.11.

Revenue of $190,770,000 rose by 32.46% year over year, which missed the estimate of $193,690,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Tsakos Energy Navigation hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Sep 23, 2020

Time: 09:00 AM

ET Webcast URL: http://tenn.irwebpage.com/webcast/cc_2020-2Q__page.html

Technicals

52-week high: $11.02

52-week low: $1.70

Price action over last quarter: down 33.71%

Company Overview

Tsakos Energy Navigation Ltd is a Bermuda-based seaborne transportation service provider for crude oil and petroleum products. Its business involves the transportation of liquid energy products such as crude oil and liquefied natural gas. Its carriers cater to national and international independent oil companies and refiners. The company generates revenue through charter contracts with its clients, which includes time, bareboat and voyage charters, contracts of affreightment and pool arrangements.