Scorpio Bulkers: 4Q Earnings Snapshot
MONACO (AP) _ Scorpio Bulkers Inc. (SALT) on Tuesday reported a fourth-quarter loss of $465.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the company said it had a loss of $40.90. Losses, adjusted for non-recurring costs, were 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The dry bulk ocean shipper posted revenue of $50.1 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $44.6 million.
For the year, the company reported a loss of $672 million, or $70.85 per share, swinging to a loss in the period. Revenue was reported as $163.7 million.
Scorpio Bulkers shares have decreased almost 1% since the beginning of the year. The stock has declined 57% in the last 12 months.