Shares of Okeanis Eco Tankers Corp (ECO) plummeted 6.99% in pre-market trading on Thursday, following the release of the company's disappointing first-quarter 2025 earnings report and dividend announcement. The significant drop reflects investors' negative reaction to the company's financial performance and the declared dividend amount.
Okeanis Eco Tankers reported adjusted earnings of $0.36 per share for Q1 2025, marking a sharp decline from $1.23 per share in the same quarter last year. Despite beating analyst expectations of $0.24 per share, the substantial year-over-year decrease has raised concerns among investors. The company's revenue also fell by 27.9% to $80.15 million, although it surpassed the expected $74.57 million. The reported EBITDA for the quarter stood at $33.8 million, indicating a significant contraction in the company's profitability.
Adding to the earnings news, Okeanis Eco Tankers declared a dividend of $0.32 per common share for Q1 2025. While the company maintained a dividend payout, the amount may have fallen short of some investors' expectations, especially in light of the reduced earnings. The combination of weaker financial results and the dividend announcement appears to have triggered a negative sentiment among investors, leading to the pre-market plunge in the stock price.
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