Tsakos Energy Navigation Ltd. reported a first-quarter FY22 Voyage revenue of $149.7 million, missing the consensus of $152.71 million. It is + 7.7% higher year-over-year.
The company’s loss narrowed to $(0.12) a share from $(0.80) in the year-ago quarter, and also beat consensus of $(0.21). The operating margin expanded by 480 bps to 6.4%.
Adjusted EBITDA climbed +13.1% year-over-year to $42.17 million and the margin widened by 135 bps to 28.2%.
The company announced that a dividend of $0.10 per common share will be paid on July 20, 2022, to holders of record as of July 14, 2022.