Navios Partners Q3 Earnings: Cash Flow, EBITDA Climb; $3.9 Billion In Contracted Revenue Secured

Navios Maritime Partners L.P. (NYSE:NMM) shares are trading higher on Tuesday after the company reported third-quarter results.

Revenue was $340.8 million, missing the consensus of $377.0 million. The company’s revenue rose 5.4%, led by the higher Time Charter Equivalent (TCE) rate.

The TCE rate rose 7% to $23,591 per day, and the available days of the fleet decreased by 1.5% to 13,552 days.

Earnings per unit was $3.20, missing the consensus of $4.29.

Adjusted EBITDA rose to $195.4 million from $173.7 million a year ago, mainly led by higher time charter and voyage revenues.

Operating cash flow for the quarter stood at $142.6 million, compared to $120.3 million a year ago.

The company held $331.9 million in cash and equivalents as ...