DRYS DryShips beats by $0.07, beats on revs (6.89 -0.14) Reports Q3 (Sep) earnings of $0.27 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.20; revenues fell 30.4% year/year to $228.2 mln vs the $210.7 mln consensus. Co reported Q3 Time Charter Equivalent Rates of $32,887 per day, from $29,752 sequentially and $63,947 in the prior year's quarter... Co says, "Our drybulk fleet is now virtually fully fixed for the remainder of 2009 and 2010 and 77% fixed for 2011 at healthy levels and we are prepared to leverage the volatility in freight rates in the future through further vessel acquisitions. DRYS now has $1.44 bln in fixed EBITDA from its dry bulk and drilling units over the next 2.25 years and we are well positioned to take advantage of acquisition opportunities as they arise.
we need to wait for guidance tomorrow morning--8:30am GL
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