Nordic American Tankers (NAT) Q2 Earnings and Revenues Surpass Estimates

Core Viewpoint - Nordic American Tankers (NAT) reported quarterly earnings of $0.10 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, but down from $0.13 per share a year ago, indicating a 42.86% earnings surprise [1][2] Financial Performance - The company posted revenues of $66.1 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 21.64%, although this is a decrease from $67.8 million in the same quarter last year [2] - Over the last four quarters, the company has only surpassed consensus EPS estimates once [2] Stock Performance - Nordic American Tankers shares have declined approximately 14.3% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $66.16 million, and for the current fiscal year, it is $0.41 on revenues of $264.07 million [7] Industry Outlook - The Transportation - Shipping industry, to which Nordic American Tankers belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges ahead [8]