secwatch.observer — SEC 8-K summary
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Issuer:     GENCO SHIPPING & TRADING LTD (GNK)
CIK:        0001326200
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001140361-22-017663
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genco Shipping Q1 net income $41.7M; declares $0.79 dividend, up 18% QoQ
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- Net income $41.7M ($0.99 basic EPS); TCE $24,093/day, +98% YoY.
- Declares $0.79/share dividend for Q1 2022, payable May 24 to record May 16; 18% increase over Q4 2021.
- Debt prepaid $48.75M in Q1, reducing total debt to $197.3M; net LTV 12%.
- EBITDA $58.0M; liquidity $270.9M ($49.1M cash + $221.8M revolver).
- Estimated Q2 2022 TCE $27,596 for 68% of owned fleet days; front-loads capex in softer Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326200/000114036122017663/0001140361-22-017663-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326200/000114036122017663/brhc10036986_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-017663

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