Navios Maritime Holdings Inc. - NM STOCK NEWS

Navios Maritime Holdings reported Q3 2022 net income of $39.0 million, down from $59.8 million in Q3 2021. Revenue from logistics rose to $74.4 million, compared to $63.5 million last year. Cash provided by operations stood at $41.3 million for the quarter. While EBITDA reached $149.9 million, driven by a $169.6 million gain from discontinued operations, the company incurred substantial prepayment fees. Management succession was announced, with George Achniotis becoming CEO of Navios Logistics. Overall, revenue increased year-over-year but net income decreased.

Navios Maritime Holdings (NYSE: NM) will host a conference call on November 22, 2022, at 8:30 AM ET to discuss its Q3 2022 financial results. The company will release its earnings report for the third quarter and nine months ended September 30, 2022 before the call. A supplemental slide presentation will be available on the company's website by 8:00 AM ET that day. Dial-in details for the call include US Dial In: +1.800.343.4849 and International Dial In: +1.203.518.9783. Replays will be accessible after the live call.

Navios Maritime Holdings has announced the results of its recent tender offer to purchase up to $20 million of its American Depositary Shares (ADSs) representing its preferred stock. The offer, which expired on October 21, 2022, saw 20,185 Series G ADSs (about 3.8% of the total) and 584,158 Series H ADSs (approximately 33%) tendered. The company will pay approximately $317,510 for the Series G and $8,925,934 for the Series H ADSs. These transactions are part of Navios Holdings' ongoing strategy to enhance shareholder value.

Navios Maritime Holdings Inc. (NYSE: NM) announced an extension of its tender offer to buy approximately $20 million of its Series H and Series G American Depositary Shares (ADSs) until October 21, 2022. The offer maintains purchase prices of $15.28 for Series H and $15.73 for Series G ADSs, presenting a premium and discount compared to recent trading prices. As of October 12, 2022, around 31.5% of Series H and 7.1% of Series G ADSs have been tendered. The company does not plan to increase the purchase price or issue dividends on the preferred shares, which may impact liquidity and shareholder returns.

Navios Maritime Holdings (NYSE: NM) announced a tender offer to buy up to $20 million of outstanding Series G and Series H American Depositary Shares (ADSs). The company will offer $15.73 for each Series G ADS and $15.28 for each Series H ADS, net of taxes. This tender offer is aimed at providing liquidity for existing holders since the company has not paid cash dividends since February 2016. The offer will expire on October 12, 2022. If more than $20 million worth of ADSs are tendered, purchases will be made on a pro rata basis.

Navios Maritime Holdings reported Q2 2022 revenue of $159.2 million, a 10.9% increase from the previous year, with net income rising to $45.0 million. Cash from operating activities reached $69.7 million. EBITDA surged 22.8% to $98.9 million. Notably, the company completed a significant $835.0 million sale of its 36-vessel drybulk fleet, reducing debt by $784.2 million. Post-sale, Navios plans to focus on its 63.8% controlling stake in Navios South American Logistics, enhancing its logistics and infrastructure capabilities in South America.

Navios Maritime Holdings Inc. (NYSE:NM) will host a conference call on September 8, 2022, at 8:30 am ET to discuss its Q2 2022 earnings results. The earnings report will be released prior to the call, which will include commentary from senior management. Interested parties can access a supplemental slide presentation on the company's website by 8:00 am ET. The call will also be available via a simultaneous webcast, with a replay option for a week following the live event.

Navios Maritime Holdings (NYSE: NM) announced on August 12, 2022, that it has fulfilled its obligations under the indenture for its 11.25% Senior Secured Notes due 2022. The outstanding notes will be repaid by August 15, 2022. The company specializes in the transportation of dry bulk commodities, including iron ore, coal, and grain.

Navios Maritime Holdings announced the sale of its 36-vessel drybulk fleet to Navios Maritime Partners for approximately $835 million. The deal will reduce Navios Holdings' liabilities by about $784.2 million. Key figures include $441.6 million in debt and finance leases and $262.6 million in vessel loans. The transaction enhances liquidity by eliminating short-term debt and is projected to yield a net book gain of around $100 million in Q3 2022. Going forward, Navios Holdings will refocus on its logistics business in South America.