---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-024967"
form_type: "8-K"
ticker: "GNK"
cik: "0001326200"
company_name: "GENCO SHIPPING & TRADING LTD"
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T08:58:22.293162+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Genco Q1 net income $18.8M, TCE $19,219/day, declares $0.42 dividend, reduces debt by $85M YTD

## Summary
- Net income $18.8M ($0.44 basic EPS); adjusted net income $21.4M ($0.50 adjusted EPS).
- Voyage revenues $117.4M; fleet TCE $19,219/day, up 38% YoY from $13,947.
- Declared Q1 dividend $0.42/share; 19th consecutive quarterly dividend; payable May 30, record May 22.
- Debt reduced $30M in Q1, $85M YTD; net LTV 7%; liquidity $347.6M ($48.7M cash + $298.9M revolver).
- Sold three Capesize vessels for $66.5M gross; estimated Q2 TCE $20,126 for 65% of owned fleet days.

## SEC filing metadata
- accession: 0001140361-24-024967
- form_type: 8-K
- ticker: GNK
- cik: 0001326200
- company_name: GENCO SHIPPING & TRADING LTD
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326200/000114036124024967/0001140361-24-024967-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326200/000114036124024967/ef20028617_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-024967
- JSON: https://secwatch.observer/filing/0001140361-24-024967.json
- Plain text: https://secwatch.observer/filing/0001140361-24-024967.txt

## Key facts
- Earnings Releases
  GENCO SHIPPING & TRADING LTD reported the first quarter ended March 31, 2024 results: revenue $117.4 million, net income $18.8 million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $117.4 million
  - Net income: $18.8 million
  - Result: reported results
  source text: of $1.8 million, a loss on sale of vessels of $1.0 million and unrealized fuel gains of $0.2 million o Adjusted EBITDA of $41.9 million for Q1 2024 2 • Voyage revenues: Totaled $117.4 million in Q1 2024 o Net revenue 2 was $76.7 million during Q1 2024 o Average daily fleet-wide TCE 2 was $19,219 for Q1 2024 • Estimated TCE to date for Q2 2024: $20,126 for 65% of our
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326200/000114036124024967/0001140361-24-024967-index.htm

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