Benzinga | May 25, 2021 07:02AM EDT

Nordic American Tankers: Q1 Earnings Insights



Shares of Nordic American Tankers (NYSE:NAT) rose 0.6% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 159.26% year over year to ($0.16), which beat the estimate of ($0.17).

Revenue of $18,811,000 declined by 78.17% year over year, which missed the estimate of $24,230,000.

Guidance

Nordic American Tankers hasn't issued any earnings guidance for the time being.

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

Recent Stock Performance

Company's 52-week high was at $5.40

Company's 52-week low was at $2.75

Price action over last quarter: Up 12.19%

Company Description

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.