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Navios Maritime Holdings' (NM) CEO Angeliki Frangou on Q1 2020 Results - Earnings Call Transcript

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Navios Maritime Holdings Inc. (NYSE:NM) Q1 2020 Earnings Conference Call June 4, 2020 8:30 AM ET

Company Participants

Angeliki Frangou – Chairman and Chief Executive Officer

Georgios Achniotis – Chief Financial Officer

Ioannis Karyotis – Senior Vice President of Strategic Planning

Ted Petrone – Vice Chairman

Conference Call Participants


Thank you for joining us for Navios Maritime Holdings’ First Quarter 2020 Earnings Conference Call. With us today from the company are Chairman and CEO, Ms. Angeliki Frangou; Chief Financial Officer, Mr. Georgios Achniotis; Vice Chairman, Mr. Ted Petrone; and Senior Vice President of Strategic Planning, Mr. Ioannis Karyotis.

As a reminder, this conference call is being webcast. To access the webcast, please go to the Investors section of Navios Holdings’ website at www.navios.com. You’ll see the webcast link in the middle of the page and a copy of the presentation referencing today’s earnings conference call will also be found there.

Now I will review the Safe Harbor statement. This conference call could contain forward-looking statements within the meanings of the Private Securities Litigation Reform Act of 1995 about Navios Holdings. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of Navios Holdings management and subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements.

Such risks are not fully discussed in Navios Holdings filings with the Securities and Exchange Commission. The information set forth herein should be understood in light of such risk. Navios Holdings does not assume any obligation to update the information contained in this conference call. The agenda for today’s conference call is as follows. We’ll begin this morning’s conference call with formal remarks from the management team. And after, we’ll open the call to take questions.

Now I’ll

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Comments (3)

hatuffej profile picture
Angeliki won't allow analysts or anyone else who might ask her pertinent questions about the poor performance of her businesses.
SpeedWeaponry, CFA profile picture
This is a $31M micro-cap. Why would an analyst want to follow it?
Too bad no analyst was able to participate. Would have been nice to know the details behind that $50MM intracompany loan, why it was needed, etc. What was used as security for this loan? There isn't anything left at NM to secure anything after the initial loan from NSM last Fall. Maybe my thinking isn't sufficiently creative.

NMM had a couple of analysts on their call. Bigger, better balance sheets elsewhere to fuss over. I still can't believe the NM balance sheet has so much remaining equity.

The largest element of income was the gain on bond repurchases well below par value. That ought to tell you something.
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