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Jun 30, 2025
Castor Maritime Q2 2025 Earnings Report
Castor Maritime reported a decline in revenue and profitability in Q2 2025 amid fleet downsizing and weaker charter rates.
Key Takeaways
In Q2 2025, Castor Maritime saw a significant drop in revenue and net income compared to the prior year, impacted by lower vessel activity and market conditions. The company continued its strategy of fleet renewal and asset optimization.
Revenue fell to $10.2 million due to vessel disposals and lower charter rates.
Net income reached $6.3 million, down from $22.9 million a year ago.
Adjusted EBITDA was $6.4 million, reflecting weaker operations.
The company maintained 100% fleet utilization despite operating fewer vessels.
Revenue by Segment
Forward Guidance
The company remains focused on capital discipline and asset optimization amid continued market weakness in the dry bulk segment.
Positive Outlook
- Strong balance sheet supports flexibility.
- Continued asset disposals reduce debt.
- 100% fleet utilization maintained.
- Fixed-rate charters locked in for multiple vessels.
- Expansion in asset management with MPC Capital acquisition.
Challenges Ahead
- Dry bulk market remains under pressure.
- Revenue and EPS declined sharply YoY.
- Fewer operating vessels after asset sales.
- General and admin costs rose with MPC integration.
- EBITDA and operating income significantly lower than last year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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