Global Ship Lease Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Global Ship Lease Inc. (GSL) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $78.763 million, or $2.22 per share. This compares with $82.687 million, or $2.34 per share, in last year's third quarter.

Excluding items, Global Ship Lease Inc. reported adjusted earnings of $86.6 million or $2.45 per share for the period.

Analysts on average had expected the company to earn $2.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.3% to $174.064 million from $174.530 million last year.

Global Ship Lease Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $78.763 Mln. vs. $82.687 Mln. last year. -EPS (Q3): $2.22 vs. $2.34 last year. -Revenue (Q3): $174.064 Mln vs. $174.530 Mln last year.