21.11.2014 16:57:15

Tsakos Energy Profit In Line With Estimate

(RTTNews) - Tsakos Energy Navigation Ltd (TNP) Friday reported third-quarter net earnings of $3 million or $0.04 per share compared with a loss of $2.4 million or $0.04 per share last year.

Total revenues for the quarter were $120.9 million compared with $107.6 million in the prior year.

Revenues, net of voyage expenses and commissions, were $82.5 million for the quarter, up 11.7% from last year.

Analysts polled by Thomson Reuters estimated earnings of $0.04 per share on revenues of $86.4 million for the quarter. Analysts' estimates typically exclude special items.

The company will pay a dividend of $0.05 per share of common stock on November 25, and will increase the dividend for payment in Q1 2015 to $0.06 per share.

Tsakos Energy Navigation provides international seaborne crude oil and petroleum product transportation services.

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