Navios Partners Q2 Net Income Declines; Time Charter And Voyage Revenues Up 23.6%

(RTTNews) - Navios Maritime Partners L.P. (NMM) reported that its second quarter net income declined to $112.3 million from $118.2 million, prior year. Earnings per unit was $3.65 compared to $3.83. Adjusted net income declined to $102.2 million from $118.2 million, last year. Adjusted earnings per unit was $3.32 compared to $3.83. Analysts polled by Thomson Reuters expected the company to report profit per share of $2.88, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue increased to $346.9 million from $280.7 million, previous year. The company said the increase was mainly attributable to the increase in the size of fleet and to the slight increase in Time Charter Equivalent rate.

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