Navios Maritime Holdings Inc. (“Navios Holdings” or the “Company”)
(NYSE: NM), today reported its financial results for the first
quarter ended March 31, 2023. Navios Holdings owns (i) a
controlling equity stake in Navios South American Logistics Inc.
(“Navios Logistics”), one of the largest infrastructure and
logistics companies in the Hidrovia region of South America and
(ii) an interest in Navios Maritime Partners L.P. (“Navios
Partners”) (NYSE:NMM), a United States publicly listed shipping
company that owns and operates dry cargo and tanker vessels.
Angeliki Frangou, Chairwoman and Chief Executive
Officer, stated, “I am pleased with the results for the first
quarter of 2023, in which we reported Net Income and EBITDA of
$14.5 million and $40.5 million, respectively.”
Angeliki Frangou, continued, “Navios Holdings’
primary focus is on its controlling interest in Navios South
American Logistics, a logistics and infrastructure provider in the
Hidrovia region of South America. With global macro conditions
supporting growth in the Hidrovia region, we are seeking to
maximize the return on our unique infrastructure assets by adapting
to changing conditions and offering innovative logistics solutions
to existing and new clients.”
HIGHLIGHTS
Navios Logistics
Navios Logistics’ EBITDA increased by
approximately 9% to $26.0 million in the three month period ended
March 31, 2023, as compared to $23.9 million in the same period in
2022. Iron ore port transhipments for the three month period ended
March 31, 2023 increased to 828 thousand tons, compared to 41
thousand tons for the same period in 2022. In iron ore
transportation, Navios Logistics has fixed six dry barge convoys
under period contracts, for durations up to December 2024, which
are expected to generate revenues of $27.0 million. Fleet
utilization in cabotage vessels increased by 20% to 84% in the
three month period ended March 31, 2023, as compared to the same
period in 2022.
Discontinued Operations
In September 2022, the sale of our 36-vessel
drybulk fleet (the “Transaction”) was completed. Following the
closing of the Transaction, the results of the dry-bulk vessel
operations are reported as discontinued operations for all periods
presented.
Non-GAAP Measures
EBITDA attributable to Navios Holdings’ common
stockholders and EBITDA of Navios Logistics (on a stand-alone
basis) are non-U.S. GAAP financial measures and should not be used
in isolation or as substitute for results calculated in accordance
with U.S. GAAP.
See Exhibit I under the heading, “Disclosure of
Non-GAAP Financial Measures,” for a discussion of Navios Holdings’
consolidated EBITDA and EBITDA of Navios Logistics (on a
stand-alone basis) and a reconciliation of such measures to net
income/(loss), the most comparable measure calculated under U.S.
GAAP.
Earnings
Highlights
First Quarter 2023 and 2022 Results (in thousands of
U.S. dollars, except per share data and unless otherwise
stated):
The first quarter 2023 and 2022 information
presented below was derived from the unaudited condensed
consolidated financial statements for the respective periods.
|
|
Three Month Period EndedMarch 31,
2023 |
|
Three Month Period EndedMarch 31,
2022 |
| |
|
(unaudited) |
|
|
(unaudited) |
|
Revenue (from continuing operations) |
$ |
65,412 |
|
|
$ |
59,154 |
|
|
| Net Income/(loss) attributable
to Navios Holdings’ common stockholders |
$ |
14,465 |
|
|
$ |
(5,000 |
) |
(1) |
| Net Income/(loss) attributable
to Navios Holdings’ common stockholders from continuing
operations |
$ |
14,465 |
|
|
$ |
(15,437 |
) |
(1) |
| EBITDA |
$ |
40,466 |
|
|
$ |
73,781 |
|
|
| EBITDA (from continuing
operations) |
$ |
40,466 |
|
|
$ |
33,279 |
|
|
| Basic Earnings/(loss) per
share attributable to Navios Holdings’ common stockholders |
$ |
0.26 |
|
|
$ |
(0.28 |
) |
(1) |
| Basic Earnings/(loss) per
share attributable to Navios Holdings’ common stockholders from
continuing operations |
$ |
0.26 |
|
|
$ |
(0.74 |
) |
(1) |
| |
|
|
|
|
|
|
|
|
(1) Net Loss and Basic Loss per share
attributable to Navios Holdings’ common stockholders for the three
month period ended March 31, 2022 include a $24.0 million upfront
fee in the form of a convertible debenture that was drawn in
January 2022 (also included in Net Loss attributable to Navios
Holdings’ common stockholders and Basic Loss per share attributable
to Navios Holdings’ common stockholders from continuing
operations).
Revenue from continuing operations was $65.4
million for the three month period ended March 31, 2023, as
compared to $59.2 million for the same period in 2022. The increase
was mainly attributable to (i) a $3.0 million increase in revenue
from the Barge Business, mainly attributable to the commencement of
fixed time charter contracts for iron ore transportation; (ii) a
$1.8 million increase in revenue from the port terminal business,
mainly attributable to higher tariffs and volumes transhipped at
the Iron Ore Port Terminal, partially offset by a decrease in
revenues from the Grain Port Terminal due to lower grain throughput
related to Uruguayan exports; (iii) a $1.2 million increase in
sales of products attributable to the sale of fuel products from
our bunkering services in the port of Nueva Palmira; and (iv) a
$0.3 million increase in revenue from the Cabotage Business.
Net Income attributable to Navios Holdings’
common stockholders from continuing operations was $14.5 million
for the three month period ended March 31, 2023, as compared to a
$15.4 million net loss for the same period in 2022. This increase
in net income from continuing operations was mainly due to (i) a
$24.0 million upfront fee incurred in January 2022, in the form of
a convertible debenture; (ii) a $7.2 million increase in EBITDA as
discussed below; and (iii) a $0.2 million decrease in depreciation
and amortization. This overall increase of approximately $31.4
million was partially mitigated by (i) a $0.7 million increase in
interest expense and finance cost, net; (ii) a $0.5 million
increase in in amortization of deferred drydock and special survey
costs; and (iii) a $0.3 million increase in income tax expense. Net
Income attributable to Navios Holdings’ common stockholders from
discontinued operations was $10.4 million for the three month
period ended March 31, 2022.
Net Income of Navios Logistics, on a standalone,
basis was $1.1 million for the three month period ended March 31,
2023, as compared to $0.4 million net loss for the same period in
2022.
EBITDA of Navios Holdings from continuing
operations for the three month period ended March 31, 2023
increased by $7.2 million to $40.5 million, as compared to $33.3
million for the same period in 2022. The increase in EBITDA from
continuing operations was primarily due to (i) a $6.3 million
increase in revenue attributable to Navios Logistics; and (ii) a
$6.3 million increase in equity in net earnings from affiliate
companies. This overall increase of approximately $12.5 million was
partially mitigated by (i) a $1.6 million increase in other
expense, net; (ii) a $1.4 million increase in time charter, voyage
and logistics business expenses; (iii) a $1.4 million increase in
general and administrative expenses (excluding stock-based
compensation expenses); (iv) a $0.5 million increase in net income
attributable to noncontrolling interest; and (v) a $0.4 million
increase in direct vessel expenses (excluding the amortization of
deferred drydock, special survey costs and other capitalized
items). EBITDA of Navios Holdings from discontinued operations was
$40.5 million for the three month period ended March 31, 2022.
EBITDA of Navios Logistics, on a standalone
basis, was $26.0 million for the three month period ended March 31,
2023, as compared to $23.9 million for the same period in 2022.
Conference Call:
As previously announced, Navios Holdings will
host a conference call today, May 24, 2023, at 8:30 am ET, at which
time Navios Holdings’ senior management will provide highlights and
commentary on earnings results for the first quarter ended March
31, 2023.
A supplemental slide presentation will be
available on the Navios Holdings website at
www.navios.com under the “Investors” section by 8:00 am ET on
the day of the call.
Conference Call details:
Call Date/Time: Wednesday, May 24, 2023 at 8:30
am ETCall Title: Navios Holdings Q1 2023 Financial Results
Conference Call US Dial In: +1. 800.267.6316 International Dial In:
+1.203.518.9783 Conference ID: NMQ123
The conference call replay will be available
shortly after the live call and remain available for one week at
the following numbers: US Replay Dial In: +1.800.839.5241
International Replay Dial In: +1.402.220.2698
This call will be simultaneously Webcast. The
Webcast will be available on the Navios Holdings website,
www.navios.com, under the “Investors” section. The Webcast will be
archived and available at the same Web address for two weeks
following the call.
About Navios
Maritime Holdings
Inc.
Navios Maritime Holdings Inc. (NYSE: NM) owns a
controlling equity stake in Navios South American Logistics Inc.,
one of the largest infrastructure and logistics companies in the
Hidrovia region of South America and an interest in Navios Maritime
Partners L.P., a US publicly listed shipping company which owns and
operates dry cargo and tanker vessels. For more information about
Navios Holdings, please visit our website: www.navios.com.
About Navios
South American
Logistics Inc.
Navios South American Logistics Inc. is one of
the largest infrastructure and logistics companies in the Hidrovia
region of South America, focusing on the Hidrovia region river
system, the main navigable river system in the region, and on
cabotage trades along the southeastern coast of South America.
Navios Logistics serves the storage and marine transportation needs
of its petroleum, agricultural and mining customers through its
port terminals, river barge and coastal cabotage operations. For
more information about Navios Logistics, please visit its website:
www.navios-logistics.com.
About Navios
Maritime Partners
L.P.
Navios Maritime Partners L.P. (NYSE: NMM) is an
international owner and operator of dry cargo and tanker vessels.
For more information, please visit its website:
www.navios-mlp.com.
Forward
Looking Statements
- Safe
Harbor
This press release contains and our earnings
call will contain forward-looking statements (as defined in Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended) concerning future
events. Words such as “may,” “expects,” “intends,” “plans,”
“believes,” “anticipates,” “hopes,” “estimates,” and variations of
such words and similar expressions are intended to identify
forward-looking statements. Such statements include comments
regarding demand and/or charter and contract rates for our
affiliates’ vessels and port facilities. These forward-looking
statements are based on the information available to, and the
expectations and assumptions deemed reasonable by, Navios Holdings
at the time these statements were made. Although Navios Holdings
believes that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. These statements
involve known and unknown risks and are based upon a number of
assumptions and estimates, which are inherently subject to
significant uncertainties and contingencies, many of which are
beyond the control of Navios Holdings. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to risks relating to:
global and regional economic and political conditions; changes in
production or demand for the transportation or storage of grain and
mineral commodities and petroleum products; the development of
Navios Logistics’ planned Port Murtinho Terminal and Nueva Palmira
Free Zone port terminal facilities; the ability and willingness of
charterers to fulfill their obligations to the affiliates in which
we are invested; prevailing charter rates; drydocking and repairs;
changing vessel crews and availability of financing; potential
disruption of shipping routes due to accidents, wars, diseases,
pandemics, political events, piracy or acts by terrorists,
including the impact of global pandemics; the aging of our
affiliates’ fleets and resultant increases in operations costs; our
affiliates’ loss of any customer or charter or vessel; the
financial condition of our affiliates’ customers; changes in the
availability and costs of funding due to conditions in the bank
market, capital markets and other factors; increases in costs and
expenses related to the operation of vessels, including but not
limited to: crew wages, insurance, provisions, port expenses, lube
oil, bunkers, repairs, maintenance, and general and administrative
expenses; the expected cost of, and the ability to comply with,
governmental regulations and maritime self-regulatory organization
standards, as well as standard regulations imposed by charterers;
competitive factors in the market in which Navios Holdings and its
affiliates operate; our affiliates’ ability to make distributions
and dividends to us; the value of our subsidiaries and affiliates;
risks associated with operations outside the United States; and
other factors listed from time to time in Navios Holdings’, Navios
Partners’ and Navios Logistics’ filings with the Securities and
Exchange Commission, including their respective Forms 20-F and
Forms 6-K. Navios Holdings expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in Navios Holdings’ expectations with respect thereto or any change
in events, conditions or circumstances on which any statement is
based. Navios Holdings makes no prediction or statement about the
performance of its common or preferred stock or Navios Logistics’
debt securities.
Contact:
Navios Maritime Holdings Inc.+1-345-232-3067 +1.212.906.8643
investors@navios.com
EXHIBIT I
NAVIOS MARITIME HOLDINGS
INC.CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS(Expressed in thousands of U.S. dollars
— except share and per share data)
|
|
Three MonthPeriod
EndedMarch 31, 2023 |
|
Three MonthPeriod
EndedMarch 31, 2022 |
| |
(unaudited) |
|
(unaudited) |
|
Revenue |
$ |
65,412 |
|
|
$ |
59,154 |
|
| Time
charter, voyage and logistics business expenses |
|
(15,872 |
) |
|
|
(14,441 |
) |
| Direct
vessel expenses |
|
(17,787 |
) |
|
|
(16,926 |
) |
| General
and administrative expenses |
|
(5,380 |
) |
|
|
(4,046 |
) |
|
Depreciation and amortization |
|
(7,741 |
) |
|
|
(7,946 |
) |
| Interest
expense and finance cost, net |
|
(16,513 |
) |
|
|
(15,782 |
) |
| Other
expense, net |
|
(3,069 |
) |
|
|
(1,443 |
) |
|
Non-operating other finance cost |
|
— |
|
|
|
(24,000 |
) |
| Loss before equity in
net earnings of affiliate companies |
|
(950 |
) |
|
|
(25,430 |
) |
| Equity
in net earnings of affiliate companies |
|
16,088 |
|
|
|
9,798 |
|
| Income/(loss) before
taxes |
$ |
15,138 |
|
|
$ |
(15,632 |
) |
| Income
tax (expense)/benefit |
|
(265 |
) |
|
|
67 |
|
| Net income/(loss) from
continuing operations |
$ |
14,873 |
|
|
$ |
(15,565 |
) |
| Net income from discontinued
operations |
|
— |
|
|
|
10,437 |
|
| Net
income/(loss) |
|
14,873 |
|
|
|
(5,128 |
) |
| Less:
Net (income)/loss attributable to the noncontrolling interest |
|
(408 |
) |
|
|
128 |
|
| Net income/(loss)
attributable to Navios Holdings |
$ |
14,465 |
|
|
$ |
(5,000 |
) |
| Net income/(loss)
attributable to Navios Holdings from continuing and discontinued
operations: |
|
|
|
|
|
| Income/(loss)
attributable to Navios Holdings, basic and diluted from continuing
operations |
$ |
5,810 |
|
|
$ |
(16,714 |
) |
| Income attributable to
Navios Holdings, basic and diluted from discontinued
operations |
$ |
— |
|
|
$ |
10,437 |
|
| Income/(loss)
attributable to Navios Holdings common stockholders, basic and
diluted |
$ |
5,810 |
|
|
$ |
(6,277 |
) |
| Basic earnings/(loss)
per share attributable to Navios Holdings common stockholders from
continuing operations |
$ |
0.26 |
|
|
$ |
(0.74 |
) |
| Basic earnings per
share attributable to Navios Holdings common stockholders from
discontinued operations |
|
— |
|
|
|
0.46 |
|
| Basic earnings/(loss)
per share attributable to Navios Holdings common
stockholders |
$ |
0.26 |
|
|
$ |
(0.28 |
) |
| Weighted average
number of shares, basic |
|
22,744,450 |
|
|
|
22,631,476 |
|
| Diluted
earnings/(loss) per share attributable to Navios Holdings common
stockholders from continuing operations |
$ |
0.25 |
|
|
$ |
(0.74 |
) |
| Diluted earnings per
share attributable to Navios Holdings common stockholders from
discontinued operations |
|
— |
|
|
|
0.46 |
|
| Diluted
earnings/(loss) per share attributable to Navios Holdings common
stockholders |
$ |
0.25 |
|
|
$ |
(0.28 |
) |
| Weighted average
number of shares, diluted |
|
22,850,450 |
|
|
|
22,841,662 |
|
| |
|
|
|
|
|
|
|
| |
Three MonthPeriod
EndedMarch 31, 2023 |
|
Three MonthPeriod
EndedMarch 31, 2022 |
| Net income from
discontinued operations |
(unaudited) |
|
(unaudited) |
|
Revenue |
$ |
— |
|
|
$ |
68,635 |
|
| Time
charter, voyage and logistics business expenses |
|
— |
|
|
|
(15,051 |
) |
| Direct
vessel expenses |
|
— |
|
|
|
(11,536 |
) |
| General
and administrative expenses |
|
— |
|
|
|
(2,519 |
) |
|
Depreciation and amortization |
|
— |
|
|
|
(6,432 |
) |
| Interest
expense and finance cost, net |
|
— |
|
|
|
(21,782 |
) |
| Loss on
bond extinguishment, net |
|
— |
|
|
|
(115 |
) |
| Other
expense, net |
|
— |
|
|
|
(743 |
) |
| Income
tax expense |
|
— |
|
|
|
(20 |
) |
| Net income from
discontinued operations |
$ |
— |
|
|
$ |
10,437 |
|
|
|
|
|
|
|
|
|
|
NAVIOS MARITIME HOLDINGS
INC.Other Financial Data
| |
March 31, 2023 |
|
December 31, 2022 |
|
ASSETS |
|
(unaudited) |
|
|
|
(unaudited) |
|
| Cash and
cash equivalents, including restricted cash |
$ |
61,461 |
|
|
$ |
78,851 |
|
| Vessels,
port terminals and other fixed assets, net |
|
492,371 |
|
|
|
495,919 |
|
| Goodwill
and other intangibles |
|
149,596 |
|
|
|
150,289 |
|
|
Operating lease assets |
|
15,474 |
|
|
|
11,787 |
|
| Other
current and non-current assets |
|
197,458 |
|
|
|
183,976 |
|
|
Total assets, continuing operations |
$ |
916,360 |
|
|
$ |
920,822 |
|
| Total
assets, discontinued operations |
|
— |
|
|
|
3,489 |
|
|
Total assets |
$ |
916,360 |
|
|
$ |
924,311 |
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
Long-term debt, including current portion |
$ |
175,163 |
|
|
$ |
178,146 |
|
| Senior
and ship mortgage notes, net |
|
497,651 |
|
|
|
496,608 |
|
|
Operating lease liabilities, including current portion |
|
15,470 |
|
|
|
11,787 |
|
| Other
current and non-current liabilities |
|
71,090 |
|
|
|
89,597 |
|
| Total
stockholders’ equity |
|
156,986 |
|
|
|
142,091 |
|
|
Total liabilities, continuing operations |
$ |
916,360 |
|
|
$ |
918,229 |
|
| Total
liabilities, discontinued operations |
|
— |
|
|
|
6,082 |
|
| Total liabilities and
stockholders’ equity |
$ |
916,360 |
|
|
$ |
924,311 |
|
|
|
|
|
|
|
|
|
|
Disclosure of Non-GAAP Financial Measures
EBITDA and Navios Logistics’ EBITDA are
“non-U.S. GAAP financial measures” and should not be used in
isolation or considered substitutes for net income prepared in
accordance with generally accepted accounting principles in the
United States.
EBITDA represents net income attributable to
Navios Holdings’ common stockholders before interest and finance
costs, before depreciation and amortization, before income taxes
and before stock-based compensation. Navios Logistics’ EBITDA
represents net income/(loss) before depreciation and amortization,
amortization of deferred drydock and special survey costs, before
interest expense and finance cost, net and before income taxes.
EBITDA and Navios Logistics’ EBITDA are presented because they are
used by certain investors to measure a company’s operating
performance and are reconciled to net income, the most comparable
U.S. GAAP performance measure. EBITDA and Navios Logistics’ EBITDA
are calculated as follows: net income adding back, when applicable
and as the case may be, the effect of (i) depreciation and
amortization; (ii) amortization of deferred drydock and special
survey costs; (iii) stock based compensation; (iv) interest expense
and finance cost, net; and (v) income tax benefit/(expense). Navios
Holdings and Navios Logistics believe that EBITDA are basis upon
which performance can be assessed and represents useful information
to investors regarding their ability to incur indebtedness and meet
working capital requirements. Navios Holdings and Navios Logistics
also believe that EBITDA are used (i) by prospective lessors as
well as potential lenders to evaluate potential transactions; (ii)
to evaluate and price potential acquisition candidates; and (iii)
by securities analysts, investors and other interested parties in
the evaluation of companies in our industry.
While EBITDA is frequently used as a measure of
operating results and the ability to meet debt service
requirements, the definition of EBITDA used here may not be
comparable to those used by other companies due to differences in
methods of calculation.
EBITDA has limitations as an analytical tool,
and therefore, should not be considered in isolation or as a
substitute for the analysis of results as reported under U.S. GAAP.
Some of these limitations are: (i) EBITDA does not reflect changes
in, or cash requirements for, working capital needs; (ii) EBITDA
does not reflect the amounts necessary to service interest or
principal payments on our debt and other financing arrangements;
and (iii) although depreciation and amortization are non-cash
charges, the assets being depreciated and amortized may have to be
replaced in the future. EBITDA does not reflect any cash
requirements for such capital expenditures. Because of these
limitations, among others, EBITDA should not be considered as an
indicator of Navios Holdings’ or Navios Logistics’ performance.
The following tables provide a reconciliation of
EBITDA of Navios Holdings (including Navios Logistics), as well as
EBITDA of Navios Logistics on a stand-alone basis:
Navios Holdings Reconciliation of
EBITDA to Net Income/(Loss)
| Three Month Period
Ended March 31, 2023 |
EBITDA from continuing operations |
|
EBITDA from discontinued operations |
|
EBITDA |
| (in thousands of U.S.
dollars) |
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
Net income |
$ |
14,465 |
|
|
$ |
— |
|
|
$ |
14,465 |
|
|
Depreciation and amortization |
|
7,741 |
|
|
|
— |
|
|
|
7,741 |
|
|
Amortization of deferred drydock and special survey costs |
|
1,460 |
|
|
|
— |
|
|
|
1,460 |
|
| Stock
based compensation |
|
22 |
|
|
|
— |
|
|
|
22 |
|
|
Interest expense and finance cost, net |
|
16,513 |
|
|
|
— |
|
|
|
16,513 |
|
|
Income tax expense |
|
265 |
|
|
|
— |
|
|
|
265 |
|
| EBITDA |
$ |
40,466 |
|
|
$ |
— |
|
|
$ |
40,466 |
|
| Three Month Period
Ended March 31, 2022 |
EBITDA from continuing operations |
|
EBITDA from discontinued operations |
|
EBITDA |
| (in thousands of U.S.
dollars) |
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
Net (loss)/income |
$ |
(15,437 |
) |
|
$ |
10,437 |
|
|
$ |
(5,000 |
) |
|
Depreciation and amortization |
|
7,946 |
|
|
|
6,432 |
|
|
|
14,378 |
|
|
Amortization of deferred drydock and special survey costs |
|
1,009 |
|
|
|
1,831 |
|
|
|
2,840 |
|
| Stock
based compensation |
|
46 |
|
|
|
— |
|
|
|
46 |
|
|
Interest expense and finance cost, net |
|
39,782 |
|
|
|
21,782 |
|
|
|
61,564 |
|
|
Income tax (benefit)/expense |
|
(67 |
) |
|
|
20 |
|
|
|
(47 |
) |
| EBITDA |
$ |
33,279 |
|
|
$ |
40,502 |
|
|
$ |
73,781 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
EBITDA breakdown
|
|
March 31, |
|
March 31, |
|
Three Month Period Ended |
2023 |
|
2022 |
|
(in thousands of U.S. dollars) |
(unaudited) |
|
(unaudited) |
|
Navios Holdings (excluding Navios Logistics) |
$ |
14,841 |
|
|
$ |
49,777 |
|
|
Navios Logistics (including noncontrolling interest) |
|
25,625 |
|
|
|
24,004 |
|
|
EBITDA |
$ |
40,466 |
|
|
$ |
73,781 |
|
|
|
|
|
|
|
|
|
|
Navios Logistics EBITDA Reconciliation to Net
Income/(Loss)
|
|
March 31, |
|
March 31, |
| Three Month Period
Ended |
2023 |
|
2022 |
| (in thousands of U.S.
dollars) |
(unaudited) |
|
(unaudited) |
|
Net income/(loss) |
$ |
1,128 |
|
|
$ |
(355 |
) |
|
Depreciation and amortization |
|
7,741 |
|
|
|
7,946 |
|
|
Amortization of deferred drydock and special survey costs |
|
1,460 |
|
|
|
1,009 |
|
|
Interest expense and finance cost, net |
|
15,439 |
|
|
|
15,343 |
|
|
Income tax expense/(benefit) |
|
265 |
|
|
|
(67 |
) |
|
EBITDA |
$ |
26,033 |
|
|
$ |
23,876 |
|
|
|
|
|
|
|
|
|
|
Navios Maritime Partners (NYSE:NMM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Navios Maritime Partners (NYSE:NMM)
Historical Stock Chart
From Apr 2023 to Apr 2024
