Scorpio Bulkers has reported a loss of three cents per share for the third quarter of 2019, beating analysts’ forecasts of a loss of five cents per share.

The Monaco-based dry bulk ocean carrier had revenue of $63.2 million in the period, higher than expected.

Scorpio Bulkers shares have risen 20 percent since the beginning of the year. The stock has risen roughly two percent in the last 12 months.