Diana Shipping reports 4Q loss

Diana Shipping reports fourth-quarter loss but tops expectations

ATHENS, Greece (AP) _ Diana Shipping inc. (DSX) on Tuesday reported a loss of $23.3 million in its fourth quarter.

The Athens, Greece-based company said it had a loss of 31 cents per share. Losses, adjusted for non-recurring gains, came to 38 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The shipping company posted revenue of $28 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $27.4 million.

For the year, the company reported that its loss widened to $164.2 million, or $2.11 per share. Revenue was reported as $114.3 million.

The company's shares closed at $3.95. A year ago, they were trading at $2.02.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSX at https://www.zacks.com/ap/DSX

_____

Keywords: Diana Shipping, Earnings Report

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...