---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-022725"
form_type: "8-K"
ticker: "GNK"
cik: "0001326200"
company_name: "GENCO SHIPPING & TRADING LTD"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:31:42.939884+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Genco posts Q1 net income $2.6M, EPS $0.06, declares $0.15 dividend

## Summary
- Net income $2.6M ($0.06 diluted EPS) vs $41.7M ($0.97) in Q1 2022; voyage revenues $94.4M, down from $136.2M.
- Average TCE $13,947/day vs $24,093/day YoY; Q2 to date TCE estimated at $16,679 for 68% of owned fleet days.
- Declared $0.15/share cash dividend, payable May 23, 2023 to record May 16; 15th consecutive quarterly dividend.
- Voluntarily prepaid $8.75M debt; total debt $162.3M at March 31; net loan-to-value of 11%.
- Liquidity $260.4M (cash + undrawn revolver); management cites improving drybulk rates and positive outlook.

## SEC filing metadata
- accession: 0001140361-23-022725
- form_type: 8-K
- ticker: GNK
- cik: 0001326200
- company_name: GENCO SHIPPING & TRADING LTD
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326200/000114036123022725/0001140361-23-022725-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326200/000114036123022725/brhc20052217_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-022725
- JSON: https://secwatch.observer/filing/0001140361-23-022725.json
- Plain text: https://secwatch.observer/filing/0001140361-23-022725.txt

## Key facts
- Earnings Releases
  GENCO SHIPPING & TRADING LTD reported the three months ended March 31, 2023 results: revenue $94.4 million, net income $2.6 million, EPS $0.06.
  - Period: the three months ended March 31, 2023
  - Revenue: $94.4 million
  - Net income: $2.6 million
  - EPS: $0.06
  - Result: reported results
  source text: Recorded net income of $2.6 million for the first quarter of 2023 o Basic and diluted earnings per share of $0.06 • Voyage revenues totaled $94.4 million and net revenue 2 (voyage revenues minus voyage expenses, charter hire expenses and realized gains or losses on fuel hedges) totaled $53.4 million during Q1 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326200/000114036123022725/0001140361-23-022725-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.