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Genco Shipping & Trading Limited — Q3 2026 Earnings Summary

  • Q3 2026 net income turned positive at $38.0 million ($0.87 EPS) versus a $1.1 million loss in Q3 2025, while adjusted EBITDA surged 214% year-over-year to $68.1 million and voyage revenues nearly doubled to $151.9 million.
  • The company declared a record Q3 dividend of $1.05 per share and projects Q4 2026 earnings per share of greater than $1.00, supported by an estimated Q4 TCE of $30,102 per day for 66% of the owned fleet.
  • Strategic fleet optimization included the delivery of the *Genco Volunteer* and the sale of two vessels for $21.0 million, bringing total Capesize/Newcastlemax investments to $408 million since Q4 2023, alongside a refinanced $680 million revolver.
  • Financial strength is highlighted by a net loan-to-value ratio of 18%, cash and equivalents rising to $94.6 million, and a nine-month net cash provided by operating activities of $115.4 million.
Company
GENCO SHIPPING & TRADING LTD
Sector
Industrials
Industry
Marine Shipping