Genco Shipping: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Genco Shipping & Trading Ltd. (GNK) on Wednesday reported fourth-quarter earnings of $4.9 million.

On a per-share basis, the New York-based company said it had profit of 11 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 43 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The transporter of drybulk cargo posted revenue of $115.5 million in the period. Its adjusted revenue was $73.1 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $71.1 million.

For the year, the company reported a loss of $12.9 million, or 30 cents per share. Revenue was reported as $240.9 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 GNK at https://www.zacks.com/ap/GNK