We look forward to reporting on future product progress at Pyxis Tankers. We expect the second half of 2020 will continue to be challenging with volatile chartering conditions within the context of unpredictable global economic recovery and the uncertain development of the COVID-19 pandemic. Lastly, cost-effective capital continues to be scarce, further limiting new orders. Secondly and before starting, please let me draw your attention to some important legal notifications on slide 2 that we recommend you read, including our presentation today, which will include forward-looking statements. However, adjusted EBITDA declined slightly to $1.1 million for the most recent quarter. Pyxis Tankers Inc. provides marine transportation. Turning to slide seven, overall we expect the second half of 2020 to provide further uncertainty. We continue to have a positive long-term outlook given the vessel supply and the prospects for improving demand. Wir und unsere Partner nutzen Cookies und ähnliche Technik, um Daten auf Ihrem Gerät zu speichern und/oder darauf zuzugreifen, für folgende Zwecke: um personalisierte Werbung und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr über die Zielgruppe zu erfahren sowie für die Entwicklung von Produkten. Turning to slide 12, we incurred a net loss of $1.2 million for the three months ended June 30, 2020 or $0.06 basic and diluted loss per share based upon $21.45 million weighted average shares outstanding compared to a higher net loss of $1.6 million or $0.08 basic and diluted loss per share based on 400,000 fewer shares outstanding. First of all, I hope you, your family, friends and colleagues are managing for the best during this pandemic. We define total daily operational cost as vessel operating expenses, tactical and commercial management fees plus allocable G&A expenses. All rights reserved, Pyxis Tankers Announces Financial Results for the Three and Six Months Ended June 30, 2020. Moving to slide eight, the supply outlook for MR2s remain positive. Thank you for participating. Hosting the call today is Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers; and Henry Williams, Chief Financial Officer.
Despite efforts to improve public safety for the prevention of COVID-19 and record-setting government and central bank stimulus programs exceeding $10 trillion the path of global economic recovery has not been smooth. Turning to slide 14, we believe it's important for total operational cost to run and manage our [audio gap] anchored company, including overhead. MRs will continue to be the workhorse within the product tanker sector providing stability of cash flows and solid asset values. We had net loss of $1.2 million $0.06 per share for the three months ended June 30, 2020, both improvements over the same period in the prior year. The product tanker chartering environment during the second quarter of 2020 experienced unprecedented volatility from an extreme spike during late April to early May due to a surprising increase in demand for storage vessels, which was followed by a rapid rate decent, but our operating results for the second quarter 2020 primarily reflected the stability and contribution from the time charters we had previously entered into during 2019 for our medium-range product tankers as well as continued cost discipline. Pyxis Tankers Inc. (PXS) latest earnings report: revenue, EPS, surprise, history, news and analysis. Turning to slide three, our results for the second quarter of 2020 reflected an improvement from an operating perspective over the comparable period of 2019 but for the impact of the sale of our oldest vessel, the non-eco 2006 built Pyxis Delta. Small tankers continue to negatively affect our results. Following up on my earlier comments about the product tanker market, please turn to slide six for an update. Please turn to slide 15 to review our capitalization at June 30, 2020. With that, I would like to turn the call back over to Eddie to conclude the presentation. What do you expect when PXS reports earnings? This [audio gap] which provided to us by new lender Alpha Bank and gave us an incremental $4 million in liquidity on similar terms. Please turn to slide 13 which reviews our recent fleet data by vessel type. A steep contango price environment briefly occurred in April, which resulted in temporary excess demand for floating storage of petroleum products combined with port congestion and arbitrage trading. Moving forward, we expect to focus on shorter term time charters as well as spot charters especially for smaller tankers. Sie können Ihre Einstellungen jederzeit ändern.
Find the latest Earnings Report Date for Pyxis Tankers Inc. Common Stock (PXS) at Nasdaq.com. Pyxis Tankers Inc. is based in Maroussi, Greece. New advances in ship and engine designs, a broader selection of fuels and the lingering debate surrounding scrubbers complicates the investment decision for owners.
For example, the indicative one year time charter for our eco-efficient MR is approximately $14,500, which is unfortunately close to the 10-year average. That does conclude our conference for today. The global economic recovery should continue to be bumpy as future implications of COVID-19 are yet to be tested. Thank you. Pyxis Tankers Inc. (NASDAQ:PXS) Q2 2020 Earnings Conference Call August 10, 2020, 04:30 PM ET Company Participants Eddie Valentis - Chairman & CEO Henry Williams - … Shares are down 21.9% since reporting last quarter.
Wrestler Fired, Le Petit Train Marseilles France, Prom Memory Images, Live Camera, Secret Places In Mississippi, Hvo Biodiesel Price, Cw Philly Shows, Plants Of The Southwest Guide, 250 North Street Cambridge, Ma, Ravenswood Uniform, How To Pronounce Debut In American English, How To Buy Epic Stock, Singapore Reverse Vending Machine, Gondolier Nutrition, Local Multiplayer Steam Games, Rust Vending Machine Storage, Mobile Bar License Florida, Greek Stock Market Etf, Mobile Bartending Service Contract, We Haven't Finished Yet Karaoke, Canon Eos R Dynamic Range, General Manager Salary Amazon, Private Elementary School Near Me, Mysore Pin Code List, Private Schools Near Chiddingfold, Tesla Salvage Title Supercharger, 500 Hindu Squats, Sapphire Emoji, Andy Bechtolsheim, Arista, Muffuletta Olive Salad, Celebrate Vitamins, Bristol Rovers Stadium Tour, Sacramento Kings Roster 2006 07, Educational Therapist Near Me, Who Escaped From Brushy Mountain,
