Genco Shipping Q2 net income returns to profit at $16.65 million; revenue rises 68.53% YoY to $136.41 million
GNK•Third-quarter outlook
For Q3 2026, estimated TCE was $28,587 for 66% of available days fixed; a 2019-built Capesize is due for August delivery.
Q2 profit and revenue growth
Genco Shipping posted Q2 2026 net income of $16.6 million, swinging from a loss a year earlier; diluted EPS was $0.37.
Adjusted net income rose to $29.2 million, while adjusted EBITDA climbed to $56.7 million.
Operating performance and dividend
Fleet-wide TCE increased 78% year over year to $24,273 per day, with utilization at 98.6%.
The company declared a Q2 dividend of $0.80 a share, up 433% year over year, marking its 28th consecutive quarterly payout.
