secwatch.observer — SEC 8-K summary
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Issuer:     GENCO SHIPPING & TRADING LTD (GNK)
CIK:        0001326200
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001140361-22-028053
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genco Q2 net income $47.4M, EPS $1.12; declares $0.50 dividend, 36% higher TCE YoY
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- Q2 net income $47.4M ($1.12 basic EPS) vs $32.0M ($0.76) year ago; revenue $137.8M.
- Fleet-wide TCE $28,756/day, up 36% YoY; Q3-to-date estimated TCE $25,059 for 79% of days.
- Declares $0.50/share dividend (12th consecutive quarterly payout), payable Aug 23 to holders Aug 16.
- Prepaid $8.75M debt in Q2; net debt-to-asset value 12%; liquidity $269.5M.
- Q2 drydocking capex $22.6M front-loaded; Q3 estimate $6.8M; DVOE budget Q3 $4,950/day.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326200/000114036122028053/0001140361-22-028053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326200/000114036122028053/brhc10040336_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-028053

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