Genco Shipping Q1 net loss $11.9M; launches $50M buyback program

GENCO SHIPPING & TRADING LTD

2025-Q1 EPS reported -$0.28 revenue$71,269,000

Q1 net loss of $11.9M ($0.28 per share) vs net income of $18.8M ($0.44) a year ago.
Voyage revenues fell to $71.3M from $117.4M; fleet TCE dropped to $11,884/day from $19,219.
Declares $0.15/share dividend, 23rd consecutive quarterly payout; record date May 22, payable May 30.
Board authorizes $50M share repurchase program, incremental to dividend policy.
EBITDA declined to $7.9M from $39.2M; Q2 TCE-to-date estimated at $14,042/day (+18% QoQ).

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