Pyxis Tankers Shares Gain After Swinging to 2Q Profit on Higher Shipping Demand

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Shares of Pyxis Tankers rose after the company swung to a second-quarter profit as revenue rose, driven by higher shipping demand.

The stock climbed 13% to $6.06 in after-hours trading on Monday. Shares were up 91% year to date at market close.

The Greek shipping company posted a second-quarter profit of $2.8 million, or 27 cents a share, compared with a loss of $2 million, or 19 cents a share, a year earlier.

Revenue rose to $12.1 million from $9.2 million a year ago.

Chief Executive Valentios Valentis called the results Pyxis's strongest quarterly performance in the last seven quarters, helped by high utilization of the company's fleet and stronger contributions from both its dry-bulk and product tanker fleets.

Market conditions for the company's dry-bulk fleet improved during the quarter as grain and coal trades, longer-haul Atlantic-to-Asia routes and changing commodity-sourcing patterns boosted demand, he said.

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Shares were up 91% year to date at market close. \n</p>\n<p>\n  The Greek shipping company posted a second-quarter profit of $2.8 million, or 27 cents a share, compared with a loss of $2 million, or 19 cents a share, a year earlier. \n</p>\n<p>\n  Revenue rose to $12.1 million from $9.2 million a year ago. \n</p>\n<p>\n  Chief Executive Valentios Valentis called the results Pyxis's strongest quarterly performance in the last seven quarters, helped by high utilization of the company's fleet and stronger contributions from both its dry-bulk and product tanker fleets. \n</p>\n<p>\n  Market conditions for the company's dry-bulk fleet improved during the quarter as grain and coal trades, longer-haul Atlantic-to-Asia routes and changing commodity-sourcing patterns boosted demand, he said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PXSAW","symbol_name":"Pyxis Tankers Inc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2664885409","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2664885409","pubTimestamp":1788214380,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Pyxis Tankers rose after the company swung to a second-quarter profit as revenue rose, driven by higher shipping demand.The stock climbed 13% to $6.06 in after-hours trading on Monday. 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Shares were up 91% year to date at market close. \n\n\n  The Greek shipping company posted a second-quarter profit of $2.8 million, or 27 cents a share, compared with a loss of $2 million, or 19 cents a share, a year earlier. \n\n\n  Revenue rose to $12.1 million from $9.2 million a year ago. \n\n\n  Chief Executive Valentios Valentis called the results Pyxis's strongest quarterly performance in the last seven quarters, helped by high utilization of the company's fleet and stronger contributions from both its dry-bulk and product tanker fleets. \n\n\n  Market conditions for the company's dry-bulk fleet improved during the quarter as grain and coal trades, longer-haul Atlantic-to-Asia routes and changing commodity-sourcing patterns boosted demand, he said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}