Genco Q2 net income $11.6M ($0.27 EPS); declares $0.15 dividend

GENCO SHIPPING & TRADING LTD

2023-Q2 EPS reported $0.33 revenue$184,947,000

Net income $11.6M ($0.27 basic EPS) vs $47.4M ($1.12) YoY; revenue $90.6M down 34% from $137.8M.
TCE rate $15,556/day vs $28,756/day YoY; fleet-wide DVOE $5,641/day vs $7,358/day.
Q2 2023 dividend $0.15/share payable Aug 23; 16th consecutive quarterly dividend.
Voluntarily repaid $8.75M debt in Q2; total debt paydown $295.7M (66%) since 2021.
Liquidity $260.9M ($53.9M cash + $207M revolver); net LTV 11% as of Aug 3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

GENCO SHIPPING & TRADING LTD reported the three months and six months ended June 30, 2023 results: EPS $0.15 per share.

Period: the three months and six months ended June 30, 2023
EPS: $0.15 per share
Result: reported results

Exact text from the filing

Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today reported its financial results for the three months and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001140361-23-037967

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