Overseas Shipbuilding Group Inc. Tuesday reported first-quarter earnings of $112.4 million, or $3.60 a share, up from a year-ago profit of $84.7 million, or $2.16 a share.
The company said last year's results include a gain of 25 cents a share from a securities sale.
The mean estimate of analysts polled by Thomson Reuters was for a profit of $4.10 a share in the March period.
Total shipping revenue - reflecting pool, time and bareboat charter and voyage charter revenue - reached $410.7 million in the three months ended March 31, up from $275.3 million in the same period a year earlier. The company said its revenue got a lift in the latest quarter from strong crude oil rates. Wall Street's consensus estimate was for revenue of $396.6 million in the quarter. The stock closed the session at $77.69.
The company said last year's results include a gain of 25 cents a share from a securities sale.
The mean estimate of analysts polled by Thomson Reuters was for a profit of $4.10 a share in the March period.
Total shipping revenue - reflecting pool, time and bareboat charter and voyage charter revenue - reached $410.7 million in the three months ended March 31, up from $275.3 million in the same period a year earlier. The company said its revenue got a lift in the latest quarter from strong crude oil rates. Wall Street's consensus estimate was for revenue of $396.6 million in the quarter. The stock closed the session at $77.69.