GNK
Genco Shipping & Trading Limited18.17
+0.06+0.33%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms spot growth strategy
Q&A largely reaffirmed Genco's value strategy of dividends, low leverage, and Capesize/Newcastlemax growth via older vessel sales amid rising asset values. Management highlighted thin term charter liquidity from owner optimism on low supply and West African demand, sticking to 80% spot exposure for upside. Chinese buyers dominate S&P for older assets, signaling market confidence. Charter-ins proved opportunistic amid Q4 strength, not speculative. OpEx inflation hits crews, yet breakeven holds sub-$10,000. Genco stays spot-heavy. Investors watch fleet renewal execution.
Key Stats
Market Cap
785.73MP/E (TTM)
-Basic EPS (TTM)
-0.17Dividend Yield
0.04%Recent Filings
8-K
Credit facility upsized $80M
Genco Shipping upsized its $600M revolving credit facility by $80M to $680M via sixth amendment on February 27, 2026, with Nordea and others. Funds will finance two previously disclosed Newcastlemax vessels—Genco Stars and Stripes (built 2020) and Genco Valkyrie (built 2020)—now serving as collateral. Lenders waived certain thresholds; no other terms disclosed.
10-K
FY2025 results
Genco Shipping posted a net loss of $4.4 million for FY2025 ended December 31, 2025, with voyage revenues down 19% y/y to $342M amid softer Capesize rates that dragged fleet TCE to $15,502/day from $19,107. Ownership days fell 2% to 15,408 on vessel sales, yet fleet utilization hit 98.4%—highest in years. Q4 momentum flickered with drybulk strengthening on Brazilian iron ore and China coal, but debt climbed to $200M after Capesize buys while $455M liquidity endures. Quarterly $0.50 dividends rolled on. Red Sea attacks threaten reroutes.
8-K
Q4 profits soar, dividend hits peak
Genco reported Q4 2025 net income of $15.4M and adjusted EBITDA of $42.0M—highest since 2022—with fleet TCE at $20,064/day. Declared $0.50/share dividend, payable March 18, 2026, marking 26th straight payout and multi-year peak. Two Newcastlemaxes due March 2026 for $145.5M boost earnings power. Q1 TCE estimates $17,966/day.
8-K
Genco launches retention plan
Genco Shipping approved an Employee Retention Plan on February 13, 2026, to bolster severance for key executives and staff amid potential change in control. Double-trigger protections—requiring qualifying termination within two years post-CIC—mirror existing executive deals, with accelerated equity vesting and bonuses. Plan locks in talent through drybulk cycles. Restrictive covenants bind top execs for 6-12 months post-exit.
8-K
Q4 TCE at $20k/day
Genco Shipping updated its Q4 2025 fleet-wide TCE estimate to ~$20,000/day for 95% of 3,830 owned available days, covering period and spot fixtures with scrubber premium. Capesize fleet rides spot market strength, with eight vessels opening in December—including four ballasting to Atlantic. Some Q4 revenue slips to Q1 2026 under GAAP voyage accounting. Actuals may vary.
IPO
Employees
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