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Seanergy Maritime (SHIP)
NASDAQ:SHIP
Earnings Data
Report Date
May 21, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.5Last Year’s EPS
0.57Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 06, 2025
|% Change Since: 2.75%
|Next Earnings Date:May 21, 2025
Earnings Call Sentiment|Positive
The earnings call reflected strong performance and strategic growth by Seanergy with record profitability, effective fleet expansion, and robust shareholder returns. These positive developments were tempered by short-term market volatility and one-off legal expenses. The outlook for the Capesize market remains optimistic, highlighting long-term growth potential.Company Guidance
In the recent conference call for Seanergy Maritime Holdings Corp., the company reported impressive financial results for the fourth quarter and full year 2024, showcasing record profitability with a net income of $43.5 million, a substantial increase from $2.3 million in 2023. The firm declared a cash quarterly dividend of $0.10 per share, totaling $15.6 million in 2024 distributions, and repurchased 226,000 shares at an average price of $9.44. The company's fleet expanded to 21 vessels, with a carrying capacity of 3.8 million deadweight tons, following a $138 million investment in four premium vessels. Seanergy achieved a daily time charter equivalent (TCE) rate of $25,100 for the year, surpassing the Baltic Capesize Index by 11%, while maintaining a fleet loan-to-value ratio of 45%. The company completed $174 million in financing and refinancings, reducing its debt-to-capital ratio to less than 50% and closing the year with a strong cash position of $34.9 million. Despite a Q4 net income of $6.6 million, impacted by $4.1 million in one-off legal expenses, Seanergy remains optimistic about the Capesize market's outlook, driven by robust demand for iron ore, bauxite, and coal, amid low fleet growth projections of 1.7% for 2024 and 1.4% for 2025.Record Profitability in 2024
Seanergy reported a net income of $43.5 million for 2024, compared to $2.3 million in 2023, marking a significant increase in profitability.
Strategic Fleet Expansion
The company expanded its fleet to 21 vessels, with a carrying capacity of 3.8 million deadweight tons, including the acquisition of high-quality Japanese-built vessels.
Strong Dividend and Share Buyback Strategy
Seanergy declared total 2024 dividends of $0.76 per share and repurchased 226,000 shares, reinforcing its commitment to shareholder value.
Effective Hedging Strategy
The company's time charter equivalent outperformed the Baltic Capesize Index by 27% in Q4 and 11% for the year, showcasing its effective hedging strategy.
Positive Market Outlook for 2025
Capesize market fundamentals remain strong with limited fleet growth and increasing demand for iron ore and bauxite, supporting a favorable supply-demand balance.
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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 |
|---|---|---|---|
| Mar 06, 2025 | $6.90 | $7.07 | +2.46% |
| 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% |
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 (SHIP) report earnings?
Seanergy Maritime (SHIP) is schdueled to report earning on May 21, 2025, TBA Not Confirmed.
What is Seanergy Maritime (SHIP) earnings time?
Seanergy Maritime (SHIP) earnings time is at May 21, 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 2025 (Q1) is -0.5.
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