Navios Maritime Partners (NYSE:NMM) Announces Earnings Results

Navios Maritime Partners (NYSE:NMM) issued its earnings results on Thursday. The shipping company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.99, Briefing.com reports. The business had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.During the same period in the previous year, the firm posted $2.61 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year.

Here are the key takeaways from Navios Maritime Partners’ conference call:

• Navios reported strong results with Q4 net income of $117.3 million and EBITDA of $224.8 million (FY net income $285.3M, EBITDA $744.6M) and raised its annual distribution by 20% to $0.24 per unit, funded mainly by a unit repurchase program that cut outstanding units ~5.3%.
• Revenue visibility is high — Navios has fixed ~71% of available days and reports $3.8 billion of contracted revenue, with contracted earnings exceeding cash operating costs by about $172.7 million.
• The fleet is materially younger than peers (average age 9.6 years vs industry 13.5) and is being modernized with 26 newbuilds through 2029 and active disposals of older tonnage, supporting operational efficiency and ESG credentials.
• Leverage and liquidity: net LTV improved to 30.9% (target 25%), available liquidity about $580 million, long-term borrowings ~$2.2 billion and a new $300 million bond at 7.75%, which raises fixed-rate funding but contributed to higher interest expense.
• Industry dynamics appear supportive — constrained order books, an aging fleet and sanctions have effectively reduced tanker capacity (company cites ~822 sanctioned tankers and ~15% capacity reduction), and trade-route disruptions are increasing ton-miles, all of which could support stronger freight rates going forward.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock traded up $2.15 during trading hours on Thursday, reaching $66.69. 106,534 shares of the stock were exchanged, compared to its average volume of 122,329. Navios Maritime Partners has a 52-week low of $28.37 and a 52-week high of $68.32. The stock has a market cap of $1.98 billion, a P/E ratio of 7.62 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day moving average is $56.04 and its 200 day moving average is $50.83.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio is 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners in the 4th quarter worth about $207,000. Empowered Funds LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter worth approximately $329,000. XTX Topco Ltd acquired a new position in shares of Navios Maritime Partners during the 4th quarter worth approximately $368,000. Susquehanna Fundamental Investments LLC purchased a new position in Navios Maritime Partners in the 4th quarter valued at about $572,000. Finally, Millennium Management LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth about $1,507,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analysts Set New Price Targets

NMM has been the subject of a number of recent research reports. Wall Street Zen downgraded Navios Maritime Partners from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Navios Maritime Partners presently has an average rating of “Hold”.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.