Bookmark This Page
 |
|
|
| Wednesday 5/1 Insider Buying Report: CLF, HWBK
Wed, 01 May 18:03:18 GMT |
|
|
|
| Wednesday's ETF with Unusual Volume: MARB
Wed, 01 May 16:39:55 GMT |
   
|
|
Get a quote box (like the one below) for your site!
|
energy quotes gold quotes
uranium stocks
solar power stocks
wind power stocks
Industry focus:
advertising stocks,
space stocks,
aerospace stock,
aerospace sector,
list of aerospace companies,
largest chemical companies,
chemical stock,
chemical news,
best agriculture stocks,
ag stocks,
chinese agriculture stocks,
top agriculture companies,
agriculture stocks,
agricultural stocks,
agricultural stock,
stocks agriculture,
agriculture markets,
agriculture index,
agriculture industries,
agricultural investment,
agriculture investment,
agricultural industry,
farm stock,
airline stock symbols,
airline stock prices,
airline stock,
airlines stock,
clothing stock,
fashion stocks,
publicly traded fashion companies,
clothing company stocks,
apparel stock,
apparel companies,
application software stocks,
asset management stocks,
auto stocks,
auto industry stocks,
chinese auto stocks,
auto stock prices,
automotive stock,
auto parts stocks,
community bank stocks,
regional bank stocks,
canadian bank stocks,
banking stock,
national bank stocks,
commercial bank stock,
banks stock,
bank stock quote,
bank stocks,
banking industry,
alcohol stocks,
beverage stock,
global wine stocks,
wine stocks,
liquor stock,
biotech stocks list,
biotechnology investing,
public biotech companies,
top biotech stocks,
nanotechnology stock,
largest biotech companies,
biotechnology stock,
biotech investing,
investing in biotech,
best biotech companies,
bio stocks,
biotech sector,
biotechnology investment,
biopharma companies,
new biotech companies,
biotech investment,
biotechnology industries,
nanotech stocks,
biotech stocks,
biotechnology articles,
biotechnology news,
business stocks,
service stocks,
chemical companies,
chemical industries,
chemical industry,
chemical company,
chemicals company,
cigarette stock,
cigarette company stocks,
cigarette stock symbols,
tobacco company stocks,
tobacco stock,
cigar stocks,
communications stocks,
communication stock,
computer peripherals companies,
computer peripherals,
computers stocks,
computer stock,
computer web,
internet stocks,
construction stocks,
machinery stocks,
builders stocks,
building stocks,
consumer goods stocks,
consumer services stocks,
consumer services companies,
lending stocks,
mortgage banking,
lending companies,
mortgage bankers,
loan services,
mortgage services,
mortgage bank,
loan bank,
defense stocks,
defensive stock,
department store stocks,
diagnostic company,
diagnostic companies,
pharmaceuticals stocks,
drug stocks,
drug company stocks,
pharma stock,
education stocks,
college stock,
electric utility stocks,
electric company stocks,
electric utilities stocks,
utility stocks,
utilities stocks,
power equipment companies,
electrical supply companies,
electronic stocks,
entertainment stock,
movie stocks,
movies companies,
movie company,
cefs,
open ended and closed ended mutual funds,
closed ended investment,
closed ended fund,
bonds fund,
closed end,
food stock,
game stock,
gambling stocks,
casino stocks,
gaming stocks list,
gaming stocks,
gas utility companies,
gas company stocks,
construction industries,
builders contractors,
construction services,
construction industry,
grocery store stocks,
supermarket stock,
drug store stocks,
home stocks,
furniture stock,
home improvement stocks,
medical company stocks,
top medical stocks,
medical stock,
hospital stock,
medical supply stocks,
medical technology stocks,
medical device stocks,
medical equipment stocks,
copper mining,
palladium mining stocks,
mining metals,
mining,
mining news,
gold exploration,
mining share price,
lithium mines,
mining industries,
international mining companies,
mining information,
molybdenum mining companies,
nickel mining companies,
metals and mining stocks,
gold and silver mining stocks,
copper mining companies,
rare earth mining companies,
rare metals stocks,
rare earth stocks,
metals stocks,
welding stock,
nonprecious metals,
non metallic mining,
office supplies companies,
office supply companies,
oil services stocks,
oil pipeline stocks,
gas pipeline stocks,
gas pipeline companies,
pipeline companies,
natural gas pipeline companies,
oil services companies,
oil field services,
oil service stocks,
natural gas pipelines,
oilfield service companies,
oil and gas pipeline companies,
oil gas pipeline,
oil exploration stocks,
oil exploration sector,
oil exploration companies,
oil drilling stocks,
oil drilling companies,
oil production companies,
china oil companies,
brazil oil companies,
china oil stocks,
brazil oil stocks,
oil companies,
oil stocks,
oil drilling,
oil exploration,
offshore oil drilling companies,
list of oil drilling companies,
oil and gas exploration,
oil and gas drilling,
oil and gas stocks,
oil and gas drilling companies,
oil refining companies,
oil marketing companies,
oil refining stocks,
oil refining sector,
oil refinery companies,
oil refinery stocks,
major oil companies,
oil sector,
oil refinery,
oil refinery company,
oil company,
oil marketing company,
oil refining company,
oil refining industry,
major oil companies list,
oil and gas companies,
crude oil stocks,
packaging companies,
container companies,
packaging stocks,
packaging sector,
container sector,
pulp stocks,
paper stocks,
timber stocks,
pulp companies,
paper companies,
timber companies,
timber trusts,
cardboard companies,
paper sector,
timber sector,
paper companies list,
silver mining companies,
gold mining companies,
gold mining sector,
precious metal stocks,
mining companies,
exploration sector,
mining sector,
exploration stocks,
mining stocks,
silver stocks,
gold stocks,
gold mining stocks,
silver mining stocks,
silver mining company,
canadian mining companies,
gold mining,
gold mining company,
mining company,
list of mining companies,
gold stocks list,
largest gold mining companies,
silver mining,
printing companies,
printing stocks,
printing sector,
newspaper stocks,
newspaper sector,
newspaper companies,
publishing stocks,
publishing sector,
publishing companies,
digital media companies,
digital media stocks,
digital media sector,
book publishing companies,
digital media company,
publishing company,
railroad stocks,
railroad sector,
railroad companies,
railroad company,
railroad investment,
major railroad companies,
real estate companies,
real estate stock,
real estate public companies,
real estate investing,
real estate investments,
real estate sector,
commercial real estate investing,
real estate investment firms,
real estate investing guide,
REITs,
real estate investment trust,
REIT sector,
REIT stocks,
REITs sector,
REITs stock,
public REITs,
real estate investment trusts,
real estate investment trust companies,
real estate investment trusts REITs,
real estate investment companies,
real estate investment company,
real estate investment trust REIT,
rubber stocks,
plastic stocks,
rubber companies,
plastic companies,
rubber sector,
plastic sector,
plastic manufacturing companies,
rubber company,
plastic company,
semiconductor stocks,
semiconductor investments,
semi stocks,
semiconductor companies,
semiconductor sector,
shipping stocks,
dry bulk stocks,
container stocks,
dry bulk shipping,
dry bulk shipping companies,
tanker stocks,
shipping companies,
shipping sector,
specialty retail,
retail stocks,
retail investing,
retail store stocks,
consumer stocks,
consumer investment,
retail companies,
retail sector,
sports stocks,
sports investing,
sporting goods stocks,
sports investments,
sporting goods companies,
sporting goods sector,
stock message boards,
television stocks,
television investment,
radio stocks,
radio invest,
media stocks,
media invest,
media investment,
media investing,
television companies,
television sector,
radio sector,
radio companies,
media companies,
media sector,
textile stocks,
apparel stocks,
textile investment,
textile companies,
textile sector,
apparel sector,
freight investment,
transportation investment,
truck investment ,
freight stocks,
transportation stocks,
trucking stocks,
trucking companies,
trucking sector,
waste management stocks,
waste stocks,
recycling stocks,
waste investment,
waste companies,
waste sector,
water stocks,
water utilities,
water investing,
water investment,
water companies,
water sector
 |  |
 | |
 | |
 | |
 | |
 | |
 | |
 | |
|
 |
|
Record annual profits in excess of $300 million – an increase of 60% - EPS of $9.93 EBITDA of $490 million 100% increase of common dividend Dynamic growth and fleet renewal with green ship initiative Market fundamentals remain strong ATHENS. Greece, March 27, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd. (TEN) (NYSE: TNP) (the "Company") reports results (unaudited) for the fourth quarter and the year ended December 31, 2023. FINANCIAL RESULTS FOR THE YEAR 2023 Adjusted EBITDA for the year reached $490 million, $95 million higher than in 2022, a 24% increase. Average TCE per ship per day for 2023 amounted to $36,822, 21% higher from the 2022 level while vessel utilization climbed to 96.3% in 2023 from 94.7% the prior year. Depreciation and amortization combined for 2023 remained relatively stable compared to 2022 at $144 million. The Company's total debt obligations were reduced from the 2022 level and settled at $1.56 billion at December 31, 2023. Interest and finance costs continued to be impacted by higher rates globally and reached $101 million for the year ended December 31, 2023. This elevated rate environment resulted to an increase of interest income from $2 million in 2022 to $15 million in 2023. Vessel overhead costs per ship per day in 2023 were at $1,535 from $1,248 in the 2022 equivalent period while operating expenses settled at $9,617 in 2023 from $8,467 in 2022 impacted by the global inflationary pressures evident in world economies for most of 2023. Cash balances, as on December 31, 2023 remained solid at $377 million, $67 million higher the December 31, 2022, levels after approximately $138 million of preferred shares redemptions and common stock dividends, from cash reserves, that took place during the year. FINANCIAL RESULTS FOR THE FOURTH QUARTER OF 2023 The fourth quarter of 2023 was a transitional period for TEN, as it operated six fewer vessels than the same period in 2022 due to vessel sales and before the add-on of the five new vessel acquisitions. This resulted to an adjusted EBITDA of $124 million from $159 million in the 2022 fourth quarter and an operating income of $83 million before impairment charges. This reduction in the number of vessels led to equivalent decreases in voyage, charter hire and operating expenses when compared to the 2022 fourth quarter with the most notable decrease being in voyage expenses which were $9 million lower than the 2022 level. Depreciation and amortization remained largely unchanged at $38 million in the 2023 fourth quarter. As a result of this reduced fleet, operating income in the fourth quarter of 2023, amounted to $83 million with a resulting net income at $58 million, or $1.74 per share before impairment charges. Fleet utilization reached 98.3% in the fourth quarter of 2023 from a still high 97.4% in the 2022 fourth quarter due to the increase of vessels in time-charter employment. The average daily Time Charter Equivalent (TCE) rate per vessel in the fleet reached $35,565 with vessel operating expenses per ship per day at $9,607 during the fourth quarter of 2023. DIVIDEND – CORPORATE AFFAIRS Reflecting its strong performance and positive market fundamentals, the Company will pay $0.60 per common share semi-annual dividend in June 2024 which is double the amount distributed in 2023 for the same period. Management intends to distribute a second semi-annual dividend to holders of its common shares in December 2024. SUBSEQUENT EVENTS Under the recently announced agreement to acquire five-modern eco-friendly tankers employed on term contracts, the first vessel, the DF Montmartre, a 2023-built LNG-powered LR2 aframax tanker was delivered to the Company on March 26, 2024. The other four are expected to join the fleet between early April 2024 and June 2024. STRATEGY & OUTLOOK It has used the strong market fundamentals to extend and secure new employments with profit-sharing arrangements for 32 of its vessels, resulting to $2 billion of minimum contracted revenues. "Strong balance sheet, high utilization, operational excellence and our environmentally friendly fleet secures visibility of growing earnings and allows TEN to further reward its shareholders going forward", said Mr George Saroglou, President and COO of TEN. TEN's CURRENT NEWBUILDING PROGRAM
*Expected delivery as per shipbuilding contracts ABOUT TSAKOS ENERGY NAVIGATION ABOUT FORWARD-LOOKING STATEMENTS Conference Call Details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877-405-1226 (US Toll-Free Dial In) or +1 201-689-7823 (US and Standard International Dial In). Please quote "Tsakos" to the operator and/or conference ID 13745387. Click here for the additional participant international Toll-Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option. Simultaneous Slides and Audio Webcast: For further information, please contact: Company Tsakos Energy Navigation Ltd. Investor Relations / Media
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0.06
