Navigator Holdings Q3 operating revenue inches up 

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Operating Revenue

$143.73 mln

Q3 Adjusted EPS

$0.41

Q3 Net Income

$79.69 mln

Q3 Operating Income

$84.11 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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