Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Genco Shipping & Trading Ltd (GNK)
:GNK
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.2Last Year’s EPS
0.49Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: 0.62%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a robust financial performance in 2024 with significant growth in EBITDA, dividends, and fleet modernization. However, there are challenges in the form of downward volatility in early 2025 freight rates and a high drydocking year. The company's strong financial position and low leverage provide a buffer against these challenges.Company Guidance
During the Genco Shipping & Trading Limited fourth quarter 2024 earnings call, several key metrics and strategic decisions were highlighted. The company reported an EBITDA exceeding $150 million, marking a nearly 50% increase from the previous year, with time charter equivalent (TCE) rates rising to $19,107 per day from $14,766. Genco noted a 70% increase in shareholder distributions, declaring $1.46 per share in dividends for 2024, with a fourth-quarter dividend of $0.30 per share, marking their 22nd consecutive dividend. They emphasized their strong financial position with a low net loan-to-value of 5% and over $330 million in undrawn revolver availability. In 2024, Genco voluntarily reduced its debt by $110 million, expecting a $6 million annualized interest expense reduction. Looking ahead, they have fixed 75% of their Q1 2025 days at $12,366 per day, with a cash flow breakeven rate of $8,873 per vessel per day, while planning to frontload drydockings in the first half of 2025. The company continues to capitalize on market opportunities by acquiring high-specification Capesize vessels, aligning with its value strategy of dividends, deleveraging, and growth.Strong Financial Performance in 2024
Genco's EBITDA exceeded $150 million, a nearly 50% increase from 2023 levels. The company also increased time charter equivalent rates to $19,107 per day from $14,766 the prior year.
Significant Dividend Increase
Genco increased distributions to shareholders by 70%, declaring $1.46 per share in dividends during the year, maintaining a strong track record of providing dividends through market cycles.
Fleet Expansion and Modernization
Acquired a high specification Capesize vessel, Genco Intrepid, as part of the fleet renewal strategy, increasing investment in modern vessels to $285 million since 2021.
Low Financial Leverage
Industry-low net loan to value of 5% and over $330 million in undrawn revolver availability, indicating strong financial health and flexibility.
---
GNK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
GNK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 19, 2025 | $14.62 | $14.71 | +0.62% |
| Nov 06, 2024 | $16.39 | $17.15 | +4.64% |
| Aug 07, 2024 | $17.11 | $16.69 | -2.45% |
| May 08, 2024 | $21.32 | $21.38 | +0.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Genco Shipping & Trading Ltd (GNK) report earnings?
Genco Shipping & Trading Ltd (GNK) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Genco Shipping & Trading Ltd (GNK) earnings time?
Genco Shipping & Trading Ltd (GNK) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GNK EPS forecast?
GNK EPS forecast for the fiscal quarter 2025 (Q1) is -0.2.
---