Earnings Recap - Navios Maritime Holdings Inc.

LONDON, December 22, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings coverage on Navios Maritime Holdings Inc. (NYSE: NM). On November 24, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Navios Maritime Holdings Inc. (Navios Holdings). In the reported quarter, the company's revenue rose 25% Y-o-Y. Chairman and CEO of Navios Holdings, Angeliki Frangou, expressed satisfaction with the Company's Q3 FY14 results, for which it reported EBITDA of $42.4 million, a 5% increase compared to the same period last year. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Navios Holdings' revenue increased to $152.6 million from $122.3 million reported in Q3 FY13. The company's reported revenues outperformed Bloomberg analysts' forecasts of $127.8 million. Navios Holdings' Q3 FY14 revenues from drybulk vessel operations increased to $73.5 million from $72.5 million in Q3 FY13, due to a net increase in available days for its fleet by 372 days. This increase was partially offset by a decrease in the time charter equivalent rate (TCE) per day by 4.4% to $11,550 per day in Q3 FY14, as compared to $12,085 per day in Q3 FY13. Further, the company's Q3 FY14 revenue from the logistics business increased to $79.1 million from $49.8 million in Q3 FY13. This increase was primarily attributable to the following factors: a rise in products transported in the dry port terminal, the commencement of operations of three new dry cargo convoys under time charter contracts during Q2 FY14, the increase in the cabotage fleet's operating days and the higher time charter rates achieved, and the increase in the Paraguayan liquid port's volume and the higher rates charged for products sold. The free research on NM can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Navios%20Maritime%20Holdings&d=22-Dec-2014&s=NM

During Q3 FY14, Navios Holdings' loss before taxes for the reported quarter stood at $15.5 million compared to pre-tax loss of $14.8 million in Q3 FY13. During Q3 FY14, net loss attributable to Navios Holdings common stockholders was $16.6 million as compared to $13.1 million in Q3 FY13. The company informed that the increase in net losses was mainly due to a rise in interest expense and finance cost (net of $0.4 million), a rise of $2.4 million in depreciation and amortization, an increase in income tax expense of $1.4 million, an increase of $0.3 million in share-based compensation expense, and an increase of $0.8 million in amortization for deferred drydock and special survey costs. On a per share basis, the company's Q3 FY14 net loss stood at $0.20 per basic and diluted share compared to a net loss of $0.13 per basic and diluted share, reported in Q3 FY13. Analysts from Bloomberg had expected the company to report a net loss of $0.14 per basic and diluted share in Q3 FY14.

On September 17, 2014, Navios Holdings entered into an agreement to acquire a 2012-built 179,515 dwt South Korean Capesize vessel, the Navios Ray, for a purchase price of $51.4 million. The vessel was delivered on November 24, 2014 and was financed with a loan of $31.0 million and balance sheet cash. Sign up and read the free analyst's notes on NM at:

http://get.Investor-Edge.com/pdf/?c=Navios%20Maritime%20Holdings&d=22-Dec-2014&s=NM

As of September 30, 2014, the company had cash and cash equivalents of $290.1 million, compared to $187.8 million, as of September 30, 2013.

Mr. Frangou stated that as a result of its Q3 FY14 results, the company announced a dividend of 6 cents for Q3 FY14 representing a yield of about 4.2%. He added that Navios Holdings has paid a dividend, uninterrupted, for nine years, regardless of the environment.

Stock Performance  

On the day of the earnings release, November 24, 2014, Navios Holdings' stock ended the session at $5.16, down 2.64%. Since then, shares of the company have mostly witnessed a negative momentum. However, on the last close, Friday, December 19, 2014, the stock finished at $4.18, up 10.58%. The company's shares vacillated between $3.62 and $4.19 during the session. A total of 2.52 million shares were traded, which was above its three months average volume of 1.52 million shares. Over the previous three trading sessions, the company's shares have surged 15.79%. However, the stock has declined 21.13% over the last one month and 62.54% from the beginning of 2014. Shares in Navios Holdings closed below their 50-day and 200-day moving averages of $5.04 and $7.79, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 43.84. Visit Investor-Edge and access the latest research on NM at:

http://get.Investor-Edge.com/pdf/?c=Navios%20Maritime%20Holdings&d=22-Dec-2014&s=NM

Sneak Peek to Corporate Insider Trading 

In the last one month Navios Holdings has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on NM is available at:

http://get.Investor-Edge.com/pdf/?c=Navios%20Maritime%20Holdings&d=22-Dec-2014&s=NM

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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