United Maritime Corp. ( (USEA) ) has released its Q4 earnings. Here is a breakdown of the information United Maritime Corp. presented to its investors.
United Maritime Corporation is an international shipping company specializing in dry bulk transportation, operating a fleet of Capesize, Kamsarmax, and Panamax vessels. Headquartered in Glyfada, Greece, the company is listed on the Nasdaq Capital Market under the symbol ‘USEA’.
In its latest earnings report for the fourth quarter and full year 2024, United Maritime Corporation announced a net revenue of $10.8 million for Q4, slightly down from $11.6 million in the same quarter of 2023. The company declared a quarterly cash dividend of $0.01 per share, continuing its focus on shareholder returns.
Key financial highlights include a net loss of $1.8 million for Q4 2024, compared to a net loss of $0.7 million in Q4 2023, and an adjusted EBITDA of $5.1 million, up from $4.6 million in the previous year. The company secured $48.3 million in financing to support strategic initiatives, including fleet enhancements and refinancing efforts.
United Maritime’s strategic moves in 2024 involved the acquisition of a 2016-built Kamsarmax vessel and the sale of its oldest Capesize vessel. The company also extended its share repurchase program, reflecting its commitment to optimizing capital allocation and enhancing shareholder value.
Looking ahead, United Maritime’s management remains optimistic about the dry bulk market’s long-term fundamentals, supported by global trade shifts and fleet supply constraints. The company is well-positioned to capitalize on evolving trade dynamics and aims to maintain financial strength and operational excellence.
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