Shares of Navios Maritime Partners LP (NMM) plunged 5.24% in Tuesday's pre-market trading session, despite the company reporting better-than-expected third-quarter revenue. The significant drop comes as investors digest the mixed results from the shipping company's latest earnings report.
Navios Maritime Partners reported Q3 2025 revenue of $346.9 million, surpassing analyst expectations of $308.98 million. However, the company's net income for the quarter fell to $56.3 million, down from $97.8 million in the same period last year. This substantial decline in profitability appears to be a key factor driving the stock's negative performance.
While the company's adjusted EBITDA of $194.04 million beat analyst estimates, it showed only a marginal increase from the previous year. Additionally, the report revealed a decrease in the company's Time Charter Equivalent (TCE) rate for its dry bulk vessels, dropping from $18,632 per day in Q3 2024 to $17,976 per day in Q3 2025. This decline in a key performance metric for the shipping industry likely contributed to investor concerns.