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Navios Maritime Acquisition Corporation (NNA) reported a significant 25.9% decline in Q1 2021 revenue, totaling $72.5 million. Adjusted EBITDA also fell by 48.2% to $29.1 million. The company experienced a net loss of $9.7 million, compared to a profit of $0.9 million in Q1 2020. Despite these challenges, fleet utilization remained strong at 98.4% and the average contractual charter rate was $18,017 for 67.1% of the fleet. Future prospects are cautiously optimistic, bolstered by a projected 6% global GDP growth in 2021.
Navios Maritime Acquisition Corporation (NYSE:NNA) will host a conference call on May 19, 2021, at 8:30 am ET, to discuss its Q1 earnings results for the period ended March 31, 2021. Prior to the call, the company will announce its earnings results. A supplemental presentation will be available on the company's website by 8:00 am ET on the same day. The call can be accessed via US and international dial-in numbers, with a replay available for one week after the event.
Navios Maritime Acquisition Corporation (NYSE: NNA) reported a 29% increase in 2020 revenues to $361.4 million, despite a 15% decline in Q4 revenue to $72.6 million. Adjusted EBITDA rose by 45.9% to $191.8 million for the year but fell 41.6% in Q4. The company reduced its debt by $96.5 million and delivered a new VLCC under a bareboat charter. However, net loss for Q4 was $7.5 million. Dividends were suspended to prioritize long-term interests. The fleet consisted of 46 vessels, with a charter-out rate of $18,327 expected for 2021.
Navios Maritime Acquisition Corporation (NYSE:NNA) announced a conference call scheduled for April 15, 2021, at 8:30 am ET, to discuss its Q4 2020 financial results. The company will release its earnings prior to the call, and a supplemental slide presentation will be available on its website by 8:00 am ET on the same day. Participants can join via US dial-in or international dial-in and access a replay for one week after the call. The call will also be available via a live webcast and will be archived for two weeks.
Navios Maritime Acquisition Corporation (NNA) announced a secured loan agreement of up to $100 million with a subsidiary of N Shipmanagement Acquisition Corp. This loan bears interest of 11% annually with a term of two years, allowing for deferred payments at a higher rate of 12.5%. Navios Acquisition has drawn $18 million from the facility. The loan is backed by a first priority pledge over key assets, including 25 tanker vessels and existing mortgage notes of $67.4 million. A Special Committee of independent directors evaluated and negotiated the loan's terms.
Navios Maritime Acquisition Corporation (NYSE: NNA) reported strong Q3 2020 results with a 33.6% revenue increase to $78.8 million and 55.2% rise in Adjusted EBITDA to $37.1 million. The company reduced debt by $81.3 million (7%) and generated $35.3 million in net cash from operations. Despite declaring a reduced quarterly dividend of $0.05 per share, the overall financial outlook remains positive with fleet expansion and significant revenue growth. Net income rose to $3.2 million from a net loss of $56.4 million year-on-year.
Navios Maritime Acquisition Corporation (NYSE:NNA) announced a conference call scheduled for December 1, 2020, at 8:30 am ET. The call will provide highlights and commentary on Q3 financial results for 2020, covering the period ending September 30. Results will be released prior to the call, with a supplemental slide presentation available on their website. Details for dial-in and replay options for the call are provided, and the session will also be broadcasted via webcast, available for two weeks post-call.
Navios Maritime Acquisition Corporation (NYSE: NNA) has announced the delivery of its new VLCC, the Baghdad, on October 28, 2020, from a Japanese shipyard. The Baghdad will be chartered to a reputable counterparty for a ten-year term at a daily bareboat rate of $27,816, with an option for an additional five years at $29,751 per day. This strategic move aims to enhance Navios Acquisition's revenue stream and fleet utilization as the company continues to focus on the transportation of petroleum products and bulk liquids.
Navios Maritime Acquisition Corporation (NYSE: NNA) reported a substantial Q2 2020 financial performance with a 91.6% increase in revenue to $112.2 million and a 228.8% rise in adjusted EBITDA to $72.7 million. The company achieved a net income of $31.0 million, a significant turnaround from a net loss of $16.6 million in Q2 2019. Navios Acquisition declared a $0.30 quarterly dividend and successfully liquidated Navios Europe II for $37.7 million. Fleet expansion continued with a new VLCC bareboat charter and 74% of available days fixed for the second half of 2020.
Navios Maritime Acquisition Corporation (NYSE: NNA) announced it will hold a conference call on July 30, 2020, at 8:30 am ET to discuss its Q2 and six-month earnings results ending June 30, 2020. The earnings results will be released prior to the call. A supplemental slide presentation will be accessible on the Navios website by 8:00 am ET. Investors can dial into the conference at +1.877.480.3873 for US calls or +1.404.665.9927 for international calls, using Conference ID 744 3737. The call will also be web broadcasted and archived for two weeks.
