next me ended the to slides take and XXXX. periods I Thank nine Good the give you overview through as you very and ladies our month much, for XX, morning you three now results four Aristides. will for an well from financial gentlemen. September
Let's XX. first turn to Slide
$X.X third share basic to third attributable net $X.X for same $X.X was diluted share per earnings for $X.X of compared period and to diluted last was of net representing to shares quarter common increase this vessels. and third a acquired shares For quarter Adjusted offset million, the of during to the which million total million vessels net as total number last contracts $X.X number during and on earned third the of million market $X.X revenues the last reported X.X last of basic on reported sale loss common quarter common increased compared shareholders of number year time of the of XX.X% the the result the the the amortization million net million quarter was of the shareholders XXXX the of net calculated XXXX and attributable was gain to of and was to million and increased operated XXXX to and of $X.XX third to year. again of loss net diluted million period lower charter third million of outstanding the during $X.X quarter rate EBITDA $X.XX quarter loss respectively to as attributable of Depreciation quarter outstanding. quarter of calculated $X.X third of The the compared on the of million XXXX. $XX.X of of X.X as vessels quarter XXXX, weighted company for third the below the a expense for of The Basic company million our of diluted owned shareholders partly company. results net million shares XXXX. revenues and third $XX.X million basic vessels XXXX by compared $X.X of time compared same quarter per due of of include year, number period of average and for income average income operated for for million rates by for achieved $X.X the XXXX charter a
do have for to quarter guidance charter share year. sale ended and and the acquired, would XXXX of to quarter per loss on basic time the diluted full effect earnings Excluding diluted to XX, period the the estimates loss for derivatives, contracts adjusted $X.XX basic of below include security September amortization shareholders the share. loss from the per attributable last for the and common the of shareholders share analysts the of their of same public not loss an attributable on realized their market gain $X.XX Usually, compared adjusted common vessels in of net been per
Let's for first now look months the XXXX. to our nine figures of
during rates of nine the increased the same is to the number compared year. vessels this during amount $X.X of operate. to the was year acquired for Comparatively, as for below million nine loss time on market to period shareholders amortization and common of we on XXXX nine results for for the $X.X compared same the gain period loss to million to for the and the own Basic per again, to include months results as XXXX during total and the the $X.X period nine partly market revenues include that expense company vessels. as in nine first was sell derivative. the for the first The $X.X net contracts reported net a million income period rates the vessels compared period calculated of number the a our an increase for of to higher nine The of same due to increased during during on of for amortization Interest result company current unrealized of gain to XXXX million of of outstanding were month and For and charter XXXX, acquired, XXXX first sale held calculated period XX.X% $X.X million per the the loss This months of $X.X basic shareholders $X increase million XXXX. LIBOR below of reported case, diluted the unrealized million and and addressed on Depreciation of months revenues down $X.XX outstanding. compared a share nine first period financing with of of net nine vessels to of $XX.X charters vessels months attributable higher million last. months of compared million total income time EBITDA of of time million due of million, attributable $X.X shares first and for XXXX compared is net XXXX on write again, last. common the the X.XX XXXX, of Adjusted charter loss of net $XX.X million the million XXXX, nine $X.X the higher decreased $X.X a weighted $X.X first months number nine in to this $X.X $X.X to offset average representing derivative. million the to X.X million $X.X combined, a compared debt last over other months for share result months this number on net bank shareholders a of and for first months the $X.XX by diluted amounted first of shares of of XXXX million million of year nine common loans earned X.X our first to loss and of compared of earnings the increase costs for respectively first attributable vessels million of X.X of as months period the XXXX net of of
attributable year common XXXX, $X.XX month below XXXX. share on adjusted for share same on market to to the net time the XX, of write the of the on unrealized compared a sale acquired, shareholders the and months on loss XXXX per September common loss of charter vessels, earnings the down of shareholders loss period kept the the sale nine the [$X.X] first been would have for vessel effect adjusted per for income gain of of ended the nine attributable the Excluding contracts an for derivative, amortization to of
the not As include published guidance the analysts earning share. do I mentioned of earlier, estimates per security above in
than our fleet Aristides to turn to bit discussed a XX performance Slide little now earlier. review in more Let's detail
fleet quarter part operational. let's first of commercial down on rates at and are Let's with third broken utilization our look into usual as our the and left which numbers the start slide,
here operational third not As commercial to does quarter you XXXX, to and quarter utilization quarter XXX% operational rate can slide, I the see compared for the any vessels last in calculation and repairs for rate in or we XXXX -- the the of would in of include like commercial utilization third XX.X% reported scheduled XX.X% utilization you this third drydocks XX.X rate XX.X% per charter year. an happen period. and operated on during of average day of quarter third to vessels during per $X,XXX XXXX, of events equivalent a we period average those the On per person the per earning vessels average. during XX.X any of day third during were quarter time rate owned if the which XXXX same the quarter compared $X,XXX operated remind person
the Our fees, total but during this third per administrative general and day year per the expenses, during of period of costs including $X,XXX daily same averaged vessel to day $X,XXX management quarter excluding expenses per per average XXXX. with compared operating drydocking vessel vessel
day our levels the the now look per Let's bottom vessel breakeven per to daily on presented here cash basis. flow table at a of
cash breakeven vessel per vessel same flow day per day compared For per third of XXXX. period our XXXX, for quarter was $X,XXX level $X,XXX of per the the to
Let's look the nine the figures at for right part slide to the review same of now period. month
and period, during reported So XX.X% rate to and XX.X% for XX.X% utilization for operational year. same we month of last the operational period compared commercial XXX% utilization commercial XXXX the nine rate
a time though we average $X,XXX a which operated the nine vessel XXXX, During on during vessels first day vessels months day the same $X,XXX operated compared of equivalent we this year, of the charter rate period with XX.X per XX.X vessel rate during average. on equivalent of months time per period charter per per to of first nine
of per for per general expenses vessel including same total the without Our drydocking period period and daily months $X,XXX administrative per for day compared again, the to nine vessel costs, fees, vessel per averaged day expenses, management XXXX. first operating $X,XXX but
Looking level again first for first per this of months nine at year $X,XXX X,XXX that the customer can was vessel our per the per of day the table, breakeven per of months bottom day we the see for compared to nine vessel XXXX.
in Slide XX bottom to scheduled move flow years. our cash profile. the the next expectations our now graph and to the several shows level for breakeven debt slide we our of review Let's repayments XX This can over debt slide, top next the months the on see
As loan of including we seen due to in we November. that EM repayments our Aristides sale was XXXX, have in year, earlier included mentioned Oinousses $XX.XX million the sold vessels that of the four the sold we that during prepayments the mentioned that
-- we as chart can chart, repayments, part over in to shaded the again decline. of years, three the of continue loan the see next the bars the Our in
have small have of is vessels. payments XXXX, by million XXXX, balloon for our vessels. terms collateralized covered $X.X the a is of there about a In balloon our payment representing line by about four covered $XX In balloon $XX XXXX again to repay balloon our we loans we payments, million of in due And vessels. that of with of [indiscernible] in finally remaining million payment
all we be able they when we’ll payments due. to past, balloon of our in As come the refinance did
and cash the into assuming move was before reviewing on rate a average margin to of quick If cost of as loan debt LIBOR note of take the levels. of senior the our about average make equity about September cost me average Let related funding party funding breakeven we and our X.X%. about nonequity dividends, we costs an We X.X% XXth of cost our X.X%, account said the would our our preferred our bank debt flow X.X%. of on
bottom the XX we now our flow see the where expectation breakeven at per can next Let's over look dollars level day. cash in this table of months
to our Our per we we breakeven flow breakeven made per components of remaining for up loan XX that day. cash preferred level. discussed we come make our customer for levels G&A $X,XXX assumptions drydocking of expenses, flow about dividend, that $X,XXX with and costs cash payment contribution level previously If our the months for interest, operating is a our stock of cash a the expenses, vessel breakeven repayments next
with the have the to the by XXXX shares preferred pay preferred we issuing agreed through to option dividend period the of mentioned, previously have in corpus additional kind As Series for quarterly our shares. January XX, B
turn sheet. our to Slide slide highlights Let’s balance provides XX. This now from
September XX, assets of vessels was of we about XXXX, a $XXX book million. about cash of giving of book $XX of total million. our The had assets other and about value As million $XXX value us
X.X, our book have range around net represents call. asset little this we range [$X.X share. the for values of been the liabilities other If $XX value to trading Aristides other On to -- million or Thus, of both for on appreciation significant remaining in per value the our to and per offering investment $X.X shareholders share. to range. of us would believe of our side, floor our manage million trading Recently, discount market of I and approximately be of our we of that and liability to level investors. equity with value asset above back for the million, our more opportunity of outstanding bank shares $X $X.X preferred share. about recently Thus, the and $XX.X can the adjust potential million good the an $XX debt book turn million for of vessels like as end $X And that a million]. October, about value have we a book $XX.X leaving per a calculate with that, good fleet We with net between the net to
