Toro Corp. reports Q 3EPS 79c vs 51c last year

Reports Q3 revenue $10.5M vs $31.3M last year. Petros Panagiotidis, Chief Executive Officer of the Company commented: “The tanker market remained robust during the third quarter, as the supply/demand fundamentals of the crude and oil product markets remain solid. We continue to renew our fleet by selling older tonnage, taking advantage of the demand for secondhand tanker vessels. In light of the robust balance sheet of Toro and with the aim of returning value to shareholders, the board of directors has authorized the repurchase of up to $5.0 million of our outstanding common shares up to March 31, 2024. We will continue to seek opportunities to profitably grow our business.”