Okeanis Eco Tankers Corp. (NYSE: ECO, OSE: OET) has released its unaudited condensed financial results for the second quarter and six-month period ending June 30, 2024. The company reported revenues of $112.0 million for Q2 2024, a decrease from $119.8 million in Q2 2023.

For the six-month period ending June 30, 2024, Okeanis Eco Tankers reported revenues of $223.1 million, a slight decrease from $232.4 million in the first half of 2023. The profit for the six months was $81.1 million, compared to $104.5 million in the same period last year.

The EPS for the six-month period was $2.52, down from $3.25 in the first half of 2023. The company declared a Q2 2024 dividend of $1.10 per common share, with the payment scheduled for September 5, 2024.

When comparing the current performance against expectations, Okeanis Eco Tankers fell short. Analysts had anticipated an EPS of $1.07 for Q2 2024, while the company reported $1.23.

This indicates that the company exceeded EPS expectations by $0.16. However, the revenue expectations were set at $72.76 million, and the company outperformed significantly with $112.0 million in actual revenues. Despite the lower year-over-year figures, the company has managed to exceed market expectations in terms of revenue and EPS.

The Time Charter Equivalent (TCE) revenue for Q2 2024 was $79.4 million, compared to $91.2 million in Q2 2023. EBITDA and Adjusted EBITDA for Q2 2024 were $63.6 million and $63.9 million, respectively.

The fleetwide daily TCE rate was $64,900 per operating day, with VLCC and Suezmax TCE rates at $73,300 and $54,600 per operating day, respectively. These figures show a decline from the previous year but still indicate strong operational performance.