Brief: Stolt-Nielsen Q1 earnings beat forecast

Stolt-Nielsen

07/04/2016 07:01

April 7 (Reuters) - Stolt-nielsen Ltd  SNI.OL  
    * q1 net profit $30.4 million (Reuters poll $20.3 million) 
    * q1 operating profit $57.8 million (Reuters poll $49.6 
million) 
    * q1 revenues $464 million (Reuters poll $499 million) 
    * says for stolt tankers expects q2 and possibly the third 
to look much like q1, though with fewer lost operating days 
    * Stolt tankers joint service sailed-in time-charter index 
was 0.77, unchanged from fourth quarter 
    * says remains concerned about impact of orderbook, though 
delays and cancellations seem increasingly likely 
    * says Stolthaven terminals is on road to recovery, and we 
expect to see small, gradual quarterly improvements this year. 
That said, ongoing actions to increase utilisation and enhance 
both profitability and operational performance are not expected 
to fully impact results until 2017 
    * Stolt tank containers is facing increased competition, as 
we have noted before, but we continue to see growth 
opportunities ahead for this business 
 
Source text for Eikon:  ID:nHUG1Gshzv  
Further company coverage:  SNI.OL  
 
 ((terje.solsvik@thomsonreuters.com;))