For the quarter ended March 31, 2026, Pyxis Tankers generated net revenues of $10.0 million, up from $9.6 million in Q1 2025, drove TCE revenues to $9.9 million (an 18.2% increase), and delivered net income of $2.4 million versus $0.8 million a year earlier. Net income per share rose to $0.23 basic and diluted, and adjusted EBITDA increased by $1.9 million to $5.4 million.

The MR tanker fleet recorded an average daily TCE of $18,944, down 19.7% year-over-year, while the dry-bulk segment achieved $19,601 per day, up 50.6%, supported by utilization of 91.5% versus 88.1% in Q1 2025. One MR vessel operates safely in the Persian Gulf under a fixed-rate charter through August 2026, with 81% of MR revenue and 100% of dry-bulk revenue under short-term charters.

As of March 31, cash and short-term deposits reached $54.4 million and, combined with a newly secured $45 million loan facility, brought total available liquidity to approximately $100 million. The weighted average share count declined to 10.3 million due to the share buyback program, and management plans disciplined deployment toward fleet growth, balance sheet optimization, and opportunistic repurchases.

By May 15, the MR tanker fleet achieved full Q2 coverage at an average estimated TCE rate of $21,850 per day, while 46% of dry-bulk days are booked at $19,130 per day. With several charters expiring later this year, the company anticipates rebooking opportunities at higher rates, and continues to monitor geopolitical and supply-chain factors while focusing on disciplined execution.