Leading dry bulk shipper Seanergy Maritime reported better-than-expected third-quarter results and increased its quarterly cash dividend from $0.05 to $0.13 per share. The company sold a 15-year old Capesize vessel and placed its first ever newbuilding order, with financing expected to be announced in the near future. Based on the company's fixtures for Q4 and current Forward Freight Agreement ...
Seanergy Maritime Holdings Corp. ( SHIP ) Q3 2025 Earnings Call November 13, 2025 10:00 AM EST Company Participants Stamatios Tsantanis - Chairman & CEO Stavros Gyftakis - Chief Financial Officer Conference Call Participants Liam Burke - B. Riley Securities, Inc., Research Division Mark La Reichman - NOBLE Capital Markets, Inc., Research Division Tate Sullivan - Maxim Group LLC, Research Divisi...
Leading dry bulk shipper Seanergy Maritime reported better-than-expected second-quarter results and declared an unchanged cash dividend of $0.05 per share. Capesize charter rates have improved quite meaningfully in recent months, thus increasing the prospects of a strong second half. The company continues to trade at a steep discount to estimated net asset value.
Seanergy Maritime trades at a discount to peers, but its low fleet breakeven and good financial position make this unwarranted. SHIP's true cash breakeven rate is just under $10,000 per day, providing significant downside protection if capesize rates fall. Despite demand concentration from China, sector-wide tailwinds are present.
Seanergy Maritime reported Q1/2025 results above muted expectations and lowered its quarterly cash dividend from $0.10 to $0.05 per share. With the seasonally weak first quarter now behind the company, profitability and cash generation should improve meaningfully. Management remained optimistic on Capesize market prospects for the remainder of the year and going into 2026.
Highlights (in million USD, except EPS) Q1 2025 Q1 2024 Net Revenues $24.2 $38.3 Net (loss) / income ($6.8) $10.2 Adjusted net (loss) / income1 ($5.2) $11.6 EBITDA1 $6.6 $21.6 Adjusted EBITDA1 $8.0 $23.2 (Loss) / earnings / per share Basic & Diluted ($0.34) $0.50 Adjusted (loss) / earnings per share Basic1 ($0.27) $0.58 Adjusted (loss) / earnings per share Diluted1 ($0.27) $0.57 ...
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