Diana Shipping Inc (DSX) reported upside earnings and revenues, says an article published on Investorsobserver.
Current economic conditions
Wall Street earnings per share (EPS) projections for Diana Shipping Inc were at $0.14. The company beat those estimates with an EPS of $0.22. The earnings per share of $0.22 (which represents a -57% EPS surprise) led to the company’s profits falling 29% compared to last year when the firm reported an EPS of $0.31. The decline in Diana Shipping Inc’s annual growth rate represents how the business isn’t performing well amid current economic conditions.
Revenues were upbeat at $72.6 million. That is an increase of 10.17% in revenues from the year-ago report and is 7.61% higher than consensus estimates set at $67.5 million.
The stock is up 5.73% to $3.79 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
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