Castor Maritime Earnings Reports

Castor Maritime posted Q1 2025 total vessel revenues of $11.32M, down from $20.39M a year earlier, driven by fewer available days and lower charter rates. The company reported a net loss of $23.35M (−$2.18 EPS) versus a $22.33M profit in Q1 2024, mainly due to $26.37M in unrealized losses from revaluing equity method investments. Adjusted EBITDA was $9.89M, and the daily TCE rate fell to $9,555. Cash stood at $78.34M with total assets of $732.98M.

Castor Maritime Inc. experienced a decline in its financial performance in Q4 2024, with total vessel revenues decreasing to $15.0 million from $26.4 million in the same period of 2023. The company reported a net loss of $32.7 million, a significant shift from a net income of $25.0 million in Q4 2023. This downturn was largely attributed to reduced available days and lower charter rates for its dry bulk vessels, alongside a substantial loss from investments in listed equity securities. Despite the challenges, the company completed the acquisition of MPC Capital, diversifying its business into asset management, and maintained a strong liquidity position.