The maritime transportation service for commercial and governmental customers said it expects to report a first quarter net loss between $3.3 million to $3.7 million.
"This result for the quarter is primarily attributable to lower than projected results from supplemental cargoes, repositioning days in the international dry bulk segment and out-of-service days in the Jones Act fleet related to both adverse weather conditions and repairs due to a machinery casualty to one vessel," the company said.
As a result, International Shipholding is now expecting its full year 2014 EBITDA to be $60 million to $64 million.
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TheStreet Ratings team rates INTL SHIPHOLDING CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTL SHIPHOLDING CORP (ISH) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, increase in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."