Overseas Shipholding Group, Inc. (NYSE:OSG) 3Q19 Result Turn To Loss

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Overseas Shipholding Group, Inc. (NYSE:OSG) The Tampa headquartered company, on Friday declared third quarter financial results before market open.

The company OSG revealed loss for the third quarter of $ 3.76 million or $ 0.04 per share, compared to income of $ 11.95 million or $ 0.13 per share, in the same quarter last year., while According to street consensus, of was expected per share

Topline results for the third quarter gained 0.48 percent to $ 80.93 million from $ 80.54 million in the same quarter last year, where as The consensus estimates are in revenue

Mr. Sam Norton, President and CEO, stated, Attaining key commercial targets across the second half of 2019 has stood as a defining element of whether or not the business strategy we have been pursuing for the past several years would find success. In this respect, we are pleased to have been able to secure time charter contracts for a total of 10 of our vessels since the end of the second quarter, increasing our forward revenue cover for 2020 to over 75% of available vessel days.

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