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Seanergy Maritime Holdings Corp (SHIP)
:SHIP
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.45Last Year’s EPS
0.58Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 29, 2018
|% Change Since: -21.25%
|Next Earnings Date:Aug 10, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant profitability and revenue growth, supported by strategic fleet expansion and favorable market conditions. Despite some concerns about temporary market softening and maintenance schedules, the company's outlook remains positive, driven by strategic initiatives and a solid financial position.Company Guidance
The guidance provided during the Seanergy Maritime Holdings Corp. Q3 2024 earnings call emphasized the company's strong financial performance, strategic initiatives, and market positioning. The company reported a significant improvement in net income, reaching $12.5 million, and adjusted EBITDA of $26.8 million for Q3 2024, compared to a net loss of $5 million and adjusted EBITDA of $9.5 million in the same quarter the previous year. For the first nine months of 2024, net income was $36.8 million with an adjusted EBITDA of $78 million, marking a substantial recovery from the prior year's loss and EBITDA figures of $8.5 million and $29.1 million, respectively. The Board approved a dividend of $0.26 per share, representing an annualized yield of approximately 11.1%, and share buybacks amounted to $1 million this quarter. The company achieved a Q3 daily time charter equivalent (TCE) rate of around $26,500 per day, outperforming the Baltic Capesize Index by about 7%. Furthermore, Seanergy has secured 42% of its Q4 days at a fixed rate of $28,000 per day, with an indicative TCE of approximately $23,400 per day. The fleet now consists of 19 vessels, following strategic acquisitions in 2024, including the addition of the Kaizen ship, with a total investment of $69.3 million. The company maintains a strong liquidity position with cash reserves of $41.3 million and a net debt to total assets ratio of approximately 38%. Seanergy is committed to maximizing shareholder value through strategic fleet growth, capital returns, and maintaining financial strength amid favorable Capesize market trends.Record Profitability and Revenue Growth
Net income for Q3 2024 was $12.5 million and adjusted EBITDA was $26.8 million, compared to a net loss of $5 million and EBITDA of $9.5 million in Q3 2023. For the first 9 months of 2024, net income reached $36.8 million with an adjusted EBITDA of $78 million, a significant improvement from the previous year's net loss of $8.5 million and EBITDA of $29.1 million.
Strong Dividend and Share Buyback Program
The Board approved a $0.26 per share dividend and continued share buybacks, representing an annualized yield of approximately 11.1%. The total capital return per share for the quarter is approximately $0.30.
Capesize Market Outperformance
Q3 daily time charter equivalent rate of around $26,500 per day outperformed the Baltic Capesize Index by about 7%. The company locked in about 40% of fleet days at favorable rates, maintaining a competitive edge.
Strategic Fleet Expansion
Completed acquisitions of Icon ship and Kaizen ship for $69.3 million and exercised a purchase option for the Newcastlemax Titan ship. Now operating 19 vessels, reinforcing growth strategy with prime assets.
Favorable Market Conditions
Capesize market demand driven by increased cargo flows, Brazilian iron ore exports up 6%, and Guinea bauxite exports surged 17%. Limited vessel additions and low order book support favorable market balance.
Solid Financial Position
Cash reserves of $41.3 million, solid liquidity maintained despite dividends, buybacks, and acquisitions. Outstanding debt at $242.4 million with a net debt to total assets ratio of approximately 38%.
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SHIP 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
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SHIP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $8.94 | $9.44 | +5.59% |
| Aug 06, 2024 | $8.28 | $9.43 | +13.89% |
| May 15, 2024 | $9.99 | $9.84 | -1.50% |
| Mar 15, 2024 | $8.04 | $8.04 | 0.00% |
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.
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FAQ
When does Seanergy Maritime Holdings Corp (SHIP) report earnings?
Seanergy Maritime Holdings Corp (SHIP) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.
What is Seanergy Maritime Holdings Corp (SHIP) earnings time?
Seanergy Maritime Holdings Corp (SHIP) earnings time is at Mar 19, 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 SHIP EPS forecast?
SHIP EPS forecast for the fiscal quarter 2024 (Q4) is 0.45.
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