STAMFORD, Conn. (AP) — Eagle Bulk Shipping Inc. (EGLE) on Wednesday reported a third-quarter loss of $4.6 million, after reporting a profit in the same period a year earlier.
The Stamford, Connecticut-based company said it had a loss of 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The shipping company posted revenue of $74.1 million in the period. Its adjusted revenue was $54.7 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $55.9 million.
The company's shares closed at $4.18. A year ago, they were trading at $4.97.