Genco Shipping Q2 revenue and adjusted EBITDA beat estimates on higher freight rates, larger fleet
GNK•Outlook
- Company projects Q3 2026 dividend of more than $1 per share based on current fixtures
- Genco estimates Q3 2026 TCE to date at $28,587 for 66% of owned fleet available days
- Company expects to take delivery of Genco Volunteer vessel in August 2026
Overview
- US drybulk shipowner's Q2 revenue rose, beating analyst expectations
- Q2 adjusted EBITDA beat analyst expectations, driven by higher rates and larger fleet
- Company declared record Q2 dividend, projects another record payout for Q3
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $136.41 mln | $110.54 mln (7 Analysts) |
| Q2 EPS | $0.37 | ||
| Q2 Net Income | $16.74 mln | ||
| Q2 Adjusted EBITDA | Beat | $56.70 mln | $52.90 mln (7 Analysts) |
| Q2 Basic EPS | $0.38 | ||
| Q2 Dividend | $0.80 |
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
