Navios Maritime Partners reports Q4 adjusted EPS $4.32 vs. $3.66 last year

Reports Q4 revenue $327.3M vs. $370.9M last year. Angeliki Frangou, Chairwoman and CEO of Navios Partners stated, “I am pleased with the results for the full year and fourth quarter of 2023. For the full year, we reported revenue of $1.3 billion and net income of $433.6 million. For the quarter, we reported revenue of $327.3 million and net income of $132.4 million. Earnings per common unit were $14.08 for the full year and $4.30 for the quarter. In 2023, the world continued to experience disruption in normal trade routes. Regional conflict in Ukraine and the Middle East created inefficiency, and traffic in the Suez Canal recently shrank by over 50%. In addition, most of the top ten economies are growing, with China leveraging its export strength. This robust environment can change quickly should conflict-driven inefficiencies clear and / or economies suffer some weakness. As usual, we continue to focus on things that we can control, such as reducing leverage, modernizing our energy efficient fleet and taking long-term cover where available.”