Overseas Shipholding Group Reports Third Quarter 2019 Results
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Overseas Shipholding Group (OSG) Misses Q3 EPS by 17c
November 8, 2019 7:35 AM ESTOverseas Shipholding Group (NYSE: OSG) reported Q3 EPS of ($0.04), $0.17 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $80.9 million versus the consensus estimate of $76.5 million.
Highlights
Shipping revenues for the third quarter 2019 were $80.9 million, up 0.5% compared with the same period in 2018. Time charter equivalent (TCE) revenues(A), a non-GAAP measure, for the third quarter 2019 were $76.5 million, up 6.2% compared with the third quarter 2018.Third quarter 2019 Adjusted EBITDA(B), a non-GAAP measure, was $16.1 million, up 47.7% from $10.9 million in the third quarter 2018.Operating income for the third quarter... More