Scorpio Bulkers Swings to Profit in Q1, Revenue Exceeds Estimates

Scorpio Bulkers (SALT) reported pre-market Monday Q1 adjusted earnings of $0.06 per share compared to a loss of $0.08 per share in the prior-year period. Analysts polled by Capital IQ were expecting a net loss of $0.18 per share.

Vessel revenue for the March quarter dropped to $50.4 million from $54.3 million in the first quarter of 2018. The CapIQ average for revenue was $49.3 million.

The company said the board authorized the release of a quarterly cash distribution of $0.02 per common share, payable on May 31 to all shareholders of record as of May 15.

Just-released report names Cannabis Stock of the Year for 2019! Their last pick has seen a +1,200% return since he released it!

This stock has all of the makings of the next great cannabis stock – early-mover advantage, international exposure and influential partnerships, plus it has a product that is unlike anything else on the market…

You will also receive a free, weekly newsletter to stay on top of the latest industry trends, read analysis on promising cannabis stocks, and more. Click here to receive your Free Report immediately!

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.