Navigator Holdings Q3 operating revenue inches up 

Overview

• Liquefied gas carrier's Q3 operating revenue rose 1.3% yr/yr

• Adjusted EPS for Q3 increased yr/yr

• Company to repurchase $22.6 mln in shares and declared dividend, totaling 35% of net income

Outlook

• Company says about 34% of available days covered by time charters for next 12 months

• Company notes 12-month forward market assessment for semi-refrigerated vessels rose to $995,000 pcm

• Company says geopolitical uncertainty continues to limit long-term contract commitments

Result Drivers

• LOWER TCE RATES AND UTILIZATION - Co said revenue growth was limited by lower average time charter equivalent rates and reduced fleet utilization

• SHIFTING CUSTOMER DEMAND - Co said customer buying paused mid-qtr on Middle East diplomatic news, then rebounded as uncertainty persisted, affecting utilization

• ROUTE DISRUPTIONS - Disruption in Middle East shipping lanes increased demand for North American exports and longer voyages, supporting vessel demand

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads

• Nov 2 - US LNG exports hit second-highest monthly level on record as Europe demand surges

• Nov 2 - Natural gas flows to Cheniere, Freeport LNG plants fall, LSEG data shows

• Nov 2 - Diamondback Energy Q3 revenue beats on higher oil output

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)