secwatch.observer — SEC 8-K summary
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Issuer:     GENCO SHIPPING & TRADING LTD (GNK)
CIK:        0001326200
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001140361-23-037967
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326200/000114036123037967/0001140361-23-037967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326200/000114036123037967/brhc20056899_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-037967

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