- Diana Shipping Inc DSX announced sales growth of 10.2% in the first quarter of FY23, up from the same period last year to $72.64 million, which surpassed analysts’ estimates of $67.50 million.
- The earnings per share (EPS) of $0.22 also beat analysts’ expectations of $0.14.
- The increased time charter revenues were driven by vessel acquisitions that resulted in an increase in ownership days.
- The fleet utilization for the quarter was at 99.4%.
- The operating income rose by 5% to $32.6 million, with an operating margin of 44.9%.
- The company declared a dividend of $0.15 per share, payable on or about July 10, 2023, to all shareholders of record as of June 12, 2023.
- As of March 31, 2023, Diana held $115.7 million in cash and equivalents, and the operating cash flow for the quarter was $33.2 million.
- Price Action: DSX shares surged by 5.62% to trade at $3.76 on Friday.
Photo: Diana Shipping
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