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Euronav Q1 Results Surpass Street Expectations

By Akanksha Bakshi
  • Euronav NV (NYSE:EURN) reported that first-quarter revenue improved by 5.1% year-over-year to $114.37 million, beating the consensus of $92.73 million. Total shipping income was $130.4 million.
  • EPS loss was $(0.21), beating the consensus of $(0.42).
  • EBITDA was $42.66 million (+49.3% Y/Y), and the margin expanded by 1,104 bps to 37.3%.
  • Total operating expenses declined to $149.44 million from $173.64 million a year ago.
  • EURN's net cash used in operating activities for Q1 totaled $(44.21) million, compared to cash generated of $50.62 million in 1Q21.
  • At the end of March 2022, Euronav had liquidity of $614 million, comprised of $169.6 million cash and $444.4 million undrawn committed credit facilities.
  • Also Read: H.C. Wainwright Raises Frontline's Price Target Post Merger Announcement
  • Euronav's annual general meeting is to be held next week in Antwerp.
  • Price Action: EURN shares are trading lower by 3.13% at $10.21 on the last check Thursday.
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Dive Deeper:
Co-Diagnostics Stock Surges As Q1 Results Surpass Street Expectations
Co-Diagnostics Inc (NASDAQ: CODX) reported first-quarter revenue growth of 13.4% year-over-year to $22.7 million, beating the consensus of $20.17 million.
Life Time's Q1 Earnings Surpass Street View Aided By Pandemic Recovery
Athletic country club destination Life Time Group Holdings Inc (NYSE:LTH) reported first-quarter FY21 sales growth of 57.3% year-on-year to $392.3 million, beating the consensus…
EVgo Q1 Results Miss Street View; Affirms FY22 Outlook
EVgo Inc (NASDAQ:EVGO) reported first-quarter FY22 sales growth of 86% year-on-year to $7.7 million, missing the consensus of $8.73 million. EVgo's network throughput…
Trade Desk Stock Slips After Q1 Results, Despite Beating Street Expectations
Trade Desk Inc (NASDAQ:TTD) reported first-quarter revenue growth of 43.5% year-over-year to $315.23 million, beating the consensus of $304.69 million. Customer retention…
One subscription that gives you access to news from hundreds of sites
Vuzix Stock Slides After Reporting Q1 Below Street Expectation
Vuzix Corp (NASDAQ:VUZI) reported a first-quarter sales decline of 36.1% year-over-year to $2.5 million, missing the consensus of $3.4 million. The decrease…
Dentsply Sirona's Q1 Earnings Miss Street Expectations, Cuts FY22 Guidance
Dentsply Sirona Inc's (NASDAQ:XRAY) Q1 FY22 sales decreased 6.1% Y/Y to $965 million, missing the consensus of $988.43 billion. Adjusted EPS decreased…
Get all your news in one place