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Overseas Shipholding 1Q Profit Up On Vessel Sale

Stock quotes in this article: OSG  

NEW YORK (AP) — Overseas Shipholding Group Inc. said on Monday its first-quarter profit rose 8.3 percent as it benefited from vessel sales.

The company posted net income of $121.8 million, or $4.53 per share, for the period that ended March 31, up from $112.4 million, or $3.60 per share, during the year-earlier period.

Revenue fell 21 percent to $324.8 million from $410.7 million a year earlier. ...

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