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Scorpio Bulkers: Q1 Earnings Insights

Shares of Scorpio Bulkers (NYSE:SALT) fell 5.3% in pre-market session after the company reported Q1 results. Quarterly Results Earnings per share decreased 2716.67% over the past year to ($1.57), which beat the estimate of ($2.02).

Benzinga · 05/11/2020 12:51

Shares of Scorpio Bulkers (NYSE:SALT) fell 5.3% in pre-market session after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 2716.67% over the past year to ($1.57), which beat the estimate of ($2.02).

Revenue of $40,824,000 lower by 18.92% year over year, which missed the estimate of $46,420,000.

Guidance

Scorpio Bulkers hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: May 11, 2020

Time: 07:04 PM ET

Webcast URL: https://edge.media-server.com/mmc/p/uydsfgt8

Recent Stock Performance

Company's 52-week high was at $31.64

52-week low: $1.68

Price action over last quarter: down 50.74%

Company Description

Scorpio Bulkers Inc is a shipping company. It owns and operates a fleet of modern mid to large-size dry bulk carriers which provide marine transportation for major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products internationally. The company's operating segment includes Kamsarmax and Ultramax. It generates maximum revenue from the Ultramax segment. Ultramax segment includes vessels ranging from approximately 60,200 DWT to 64,000 DWT. The Kamsarmax segment includes vessels ranging from approximately 82,000 DWT to 84,000 DWT.