---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-008832"
form_type: "8-K"
ticker: "GNK"
cik: "0001326200"
company_name: "GENCO SHIPPING & TRADING LTD"
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T21:49:11.925196+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Genco Q4 net income $4.9M, adj EPS $0.43; declares $0.41/share dividend

## Summary
- Net income $4.9M ($0.12 diluted EPS) includes $13.6M vessel impairment; adjusted net income $18.6M ($0.43 diluted EPS).
- Q4 TCE $17,373/day, up 44% from Q3; FY 2023 TCE $14,766, outperforming benchmark by ~$1,300/day.
- Declared Q4 dividend of $0.41/share (18th consecutive), payable March 13, 2024 to holders of record March 6, 2024.
- Closed $500M revolver (maturity 2028, margin 1.85%-2.15%); debt cut 55% since 2021; net loan-to-value ~10%.
- Acquired two 2016-built scrubber-fitted Capesize vessels for $86.1M; agreed to sell three older Capesize for $56.0M, saving ~$10M in 2024 drydock costs.

## SEC filing metadata
- accession: 0001140361-24-008832
- form_type: 8-K
- ticker: GNK
- cik: 0001326200
- company_name: GENCO SHIPPING & TRADING LTD
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326200/000114036124008832/0001140361-24-008832-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326200/000114036124008832/ee20021948_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-008832
- JSON: https://secwatch.observer/filing/0001140361-24-008832.json
- Plain text: https://secwatch.observer/filing/0001140361-24-008832.txt

## Key facts
- Earnings Releases
  GENCO SHIPPING & TRADING LTD reported Q4 2023 results: revenue $115.5 million, net income $4.9 million, EPS $0.12 and $0.11.
  - Period: Q4 2023
  - Revenue: $115.5 million
  - Net income: $4.9 million
  - EPS: $0.12 and $0.11
  - Result: reported results
  source text: Financial performance: Net income of $4.9 million for Q4 2023, including a non-cash vessel impairment charge of $13.6 million, or basic and diluted earnings per share of $0.12 and $0.11, respectively o Adjusted net income of $18.6 million or basic and diluted earnings per share of $0.43, excluding the non-cash vessel impairment charge of $13.6 million 2 o Adjusted EBITDA of $37.1 million for Q4 2023 and $101.5 million for FY 2023 2 1 • Voyage revenues: Totaled $115.5 million in Q4 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326200/000114036124008832/0001140361-24-008832-index.htm

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