One other Transportation stock that has outperformed the sector so far this year is Westinghouse Air Brake Technologies (WAB) . The stock is up 29.9% year-to-date. In Westinghouse Air Brake Technologies' case, the consensus EPS estimate for the current year increased 8.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). Tsakos Energy is one of 132 companies in the Transportation group. The Transportation group currently sits at #16 within the Zacks Sector Rank. The Zacks Sec ...

Core Insights - TEN, Ltd has completed the acquisition of Viken Crude AS, enhancing its fleet with a 2019-built scrubber fitted 1A Ice-Class Aframax tanker, while generating $100 million in free cash from the sale of older vessels [1][2][3] Fleet Modernization - Since the beginning of 2023, TEN has sold 13 vessels totaling 1.1 million dwt with an average age of 18.5 years and purchased 20 vessels totaling 2.25 million dwt with an average age of 1.2 years, significantly modernizing its fleet [2] - The strategic divestments and acquisitions have increased TEN's critical mass in the maritime energy segments and improved its environmental footprint [3] Newbuilding Program - TEN's current newbuilding program includes multiple vessels under construction, with expected deliveries ranging from Q2 2025 to Q3 2028, including DP2 shuttle tankers and scrubber-fitted Suezmax and MR product tankers [4] Company Overview - Founded in 1993, TEN is one of the first public shipping companies, currently operating a diversified energy fleet of 74 vessels totaling 9.0 million dwt, including various types of tankers and LNG carriers [5]

ATHENS, Greece, May 31, 2024 (GLOBE NEWSWIRE) -- TEN, Ltd. ("TEN" or the "Company") (NYSE:TNP) a leading diversified crude, product and LNG tanker operator, today announced that the Company will report earnings for the first quarter ended on March 31, 2024 prior to the open of the market in New York on Thursday, June 20, 2024. That same day, at 10:00 a.m. Eastern Time, TEN will host a conference call to review the results as well as the management's outlook for the business. The call, which will be hosted b ...

Core Viewpoint - Value investing remains a preferred strategy for identifying strong stocks, utilizing fundamental analysis and traditional valuation metrics to find undervalued stocks in the market [2]. Company Summary: Tsakos Energy Navigation (TNP) - TNP holds a Zacks Rank of 2 (Buy) and a Value grade of A, indicating strong potential for value investors [4]. - The stock has a Forward P/E ratio of 3.25, significantly lower than the industry's average Forward P/E of 7.18, suggesting it may be undervalued [4]. - Over the past 12 months, TNP's Forward P/E has fluctuated between a high of 3.27 and a low of 1.74, with a median of 2.30 [4]. - TNP's P/S ratio stands at 1.02, compared to the industry's average P/S of 1.45, further indicating potential undervaluation [5]. - The P/CF ratio for TNP is 2.04, which is attractive relative to the industry's average P/CF of 6.54, highlighting a strong cash flow outlook [6]. - TNP's P/CF has ranged from a high of 2.05 to a low of 0.95 over the past year, with a median of 1.25 [6]. - These metrics collectively suggest that TNP is likely undervalued, supported by a strong earnings outlook, making it an impressive value stock [7].

Financial Performance and Dividends - During 2023, the company paid dividends on common shares totaling $1.00 per share, amounting to $29.5 million, and redeemed all Series D Preferred Shares for $87.9 million[132]. - The company intends to continue paying cash dividends, but this is subject to various factors including cash availability and loan agreement restrictions[132]. - The company’s ability to pay dividends is dependent on the earnings and cash flow of its subsidiaries, which may be restricted by financing arrangements[134]. - The company has outstanding indebtedness of approximately $1.6 billion as of December 31, 2023, which may restrict its ability to pay dividends to preferred stockholders[138]. Operating Expenses and Inflation - In 2023, Euro expenses accounted for approximately 36% of the total operating expenses, which includes dry-docking costs[114]. - Inflation has moderately impacted operating expenses, particularly in dry-docking and maintenance costs, which have increased due to higher routine repair costs in 2023[111]. Management and Operational Risks - The management agreement with Tsakos Energy Management can be terminated with one year's notice, which could result in a payment of approximately $175.8 million if terminated[122]. - The company relies on Tsakos Energy Management and Tsakos Shipping for management services, and any inability of these entities to provide services could materially affect the company[119]. - The company has no key man life insurance for its executive officers, which could pose a risk if key personnel are lost[115]. Market and Shareholder Considerations - The market price of the company's common and preferred shares may be volatile due to various factors, including fluctuations in quarterly results and market conditions[131]. - The company’s preferred shares are subordinated to all existing and future indebtedness, which could dilute the interests of current preferred shareholders[138]. - The company’s preferred shares have extremely limited voting rights, primarily allowing holders to elect one director under specific conditions[139]. - The company’s Bye-laws include anti-takeover provisions that may deter third-party acquisition attempts[140]. Taxation and Regulatory Environment - The company is subject to the Corporate Income Tax Act 2023, which may impose a tax rate of 15% on net taxable income starting from tax years beginning on or after January 1, 2025[149]. - The company expects its income from international shipping to be exempt from the tax imposed under the CIT Act, but will continue to evaluate its impact[150]. - If the company is treated as a passive foreign investment company (PFIC), U.S. shareholders could face unfavorable tax treatment[154]. - The company’s financial results could be adversely affected by changes in tax laws or interpretations in jurisdictions where it operates[147]. Currency and Exchange Rate Risks - The company is exposed to exchange rate risks, particularly with expenses incurred in foreign currencies, which could adversely affect operational results[114].

Tsakos Energy Navigation Limited (NYSE:TNP) Q4 2023 Results Conference Call March 27, 2024 12:00 PM ET Company Participants Nicolas Bornozis - IR Advisor Takis Arapoglou - Chairman Nikolas Tsakos - Founder and CEO George Saroglou - Chief Operating Officer Paul Durham - Chief Financial Officer Conference Call Participants Climent Molins - Value Investor’s Edge Operator Ladies and gentlemen, thank you for standing by, and welcome to Tsakos Energy Navigation Conference Call on the Fourth Quarter 2023 Financial ...

Nikolas Tsakos Operator Nikolas Tsakos Takis Arapoglou Operator This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation. Conference Call Participants Sherif Elmaghrabi - BTIG Omar Nokta - Jefferies Climent Molins - Value Investor's Edge Operator Thank you for standing by, ladies and gentlemen, and welcome to Tsakos Energy Navigation Conference Call on the Third Quarter 2023 Financial Results. We have with us Mr. Takis Arapoglou, Chairman of the Board; ...

This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words X 3 1 yr VLCC TC Rates $130m + $92m $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 Iraq War Credit Crisis $125m $65m $88m Mar. 02 May. 04Oct. 10 May 12May. 13 Jan. 14 Apr. 15 Jul. 15 $28m $105m $86m $50m $85m Mar.17 Sep. 13 $50m Apr. 14Jun.18 $115m $35m Covid-19 $150m Sep. 19 UKR War 4 68 Preferred Shares Redeemed a ...

Tsakos Energy Navigation Limited (NYSE:TNP) Q2 2023 Earnings Conference Call September 7, 2023 10:00 AM ET Company Participants Nicolas Bornozis - Investor Relations, Capital Link Takis Arapoglou - Chairman of the Board Nikolas Tsakos - President and Chief Executive Officer George Saroglou - Chief Operating Officer Paul Durham - Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies Climent Molins - Value Investor's Edge Operator Thank you for standing by, ladies and gentlemen, and welc ...

Financial Performance - In Q1 2023, Tsakos Energy Navigation Limited generated gross revenues of $261 million, a 74% increase from Q1 2022, driven by positive industry fundamentals and trade imbalances due to the Ukraine war[1] - Operating income for Q1 2023 reached $199 million, which includes an $81 million capital gain from the sale of vessels, reflecting strong demand for secondhand tonnage[2] - Net income for Q1 2023 totaled $177 million, significantly up from $6.3 million in Q1 2022, with net income attributable to common stockholders at $167.9 million[3] - EBITDA exceeded $236 million in Q1 2023, compared to $42.2 million in Q1 2022, with Adjusted EBITDA at $155 million[4] Fleet and Operations - Fleet utilization in Q1 2023 was 96.4%, an increase from 93.3% in Q1 2022, indicating efficient technical management[12] - The average Time Charter Equivalent (TCE) per day more than doubled to $41,882 from $19,730 in Q1 2022[12] - Daily operating expenses per vessel in Q1 2023 were $9,213, influenced by seasonal inventory buildup and inflationary pressures[5] Cash and Investments - Cash reserves increased to $476 million as of March 31, 2023, up from $309.4 million at the end of 2022[4] - The company plans to redeem 3,517,061 Series D Preferred Shares, generating annual preferred dividend savings of $7.7 million[7] - The company has several newbuildings under construction, with expected deliveries ranging from Q3 2023 to Q2 2025[9]