Benzinga | Aug 17, 2020 07:15AM EDT

Recap: Nordic American Tankers Q2 Earnings

Shares of Nordic American Tankers (NYSE:NAT) rose 3.5% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 400.00% over the past year to $0.33, which beat the estimate of $0.28.

Revenue of $93,772,000 rose by 205.91% from the same period last year, which missed the estimate of $94,350,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

Company's 52-week high was at $9.00

52-week low: $1.66

Price action over last quarter: Up 4.88%

Company Profile

Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has only one type of vessel - Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand.