STAMFORD, Conn. (AP) _ Eagle Bulk Shipping Inc. (EGLE) on Thursday reported first-quarter profit of $53.1 million.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of $3.27. Earnings, adjusted for non-recurring costs, were $3.97 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The shipping company posted revenue of $184.4 million in the period. Its adjusted revenue was $140.8 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $134.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EGLE at https://www.zacks.com/ap/EGLE
