Genco Q1 net income $9.3M; dividend $0.35/share, up 133% YoY; Q2 dividend projected $0.70/share

GENCO SHIPPING & TRADING LTD

2026-Q1 EPS reported $0.21 revenue$114,429,000

Q1 net income $9.3M ($0.21 EPS); adjusted net income $11.3M ($0.26 adj. EPS).
Voyage revenues $114.4M (up 60% YoY); fleet TCE $19,346/day (up 63% YoY).
Declared $0.35/share dividend for Q1, payable May 26; Q2 projected $0.70/share based on current fixtures.
Acquired two Newcastlemax vessels (Mar 2026); agreed to buy 2019-built Capesize for $65M; sold two Supramaxes for $21.2M.
Refinanced revolver to $680M; net debt low with 20% loan-to-value; liquidity $404.8M.

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 0.9

GENCO SHIPPING & TRADING LTD updated its Q2 2026 guidance (raised).

Period: Q2 2026
Guidance: raised
Result: guidance update

Exact text from the filing

projections show a Q2 dividend of $0.70 per share, a 367% increase year-over-year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENCO SHIPPING & TRADING LTD reported three months ended March 31, 2026 results: revenue $114.4 million.

Period: three months ended March 31, 2026
Revenue: $114.4 million
Result: reported results

Exact text from the filing

diluted earnings per share of $0.21 o Adjusted net income of $11.3 million or basic and diluted earnings per share of $0.26 2 o Adjusted EBITDA: $36.2 million o Voyage revenues: $114.4 million ■ Net revenue 2 : $72.0 million 1 ■ Average daily fleet-wide TCE 2 : $19,346 per day, strongest Q1 since 2022 • Estimated Q2 2026 TCE to date o $23,939 for 66% of our owned fleet

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENCO SHIPPING & TRADING LTD reported three months ended March 31, 2026 results: revenue $114.4 million.

Period: three months ended March 31, 2026
Revenue: $114.4 million
Result: reported results

Exact text from the filing

Voyage revenues: $114.4 million

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Source: SEC EDGAR

accession 0001140361-26-019316

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