Castor Maritime posted $21.0M in net income in Q3 2025, driven by gains from investments and improved EBITDA. Operating income came in at $4.3M while adjusted EPS was modestly positive. Vessel revenue declined due to fewer ownership days, but high TCE rates and asset management income supported overall performance.
Net income reached $21.0 million, largely driven by a $12.9 million gain in other income including equity investments.
Total revenue for the quarter was $20.96 million, split between vessel revenue of $11.43 million and $9.53 million from services.
EBITDA surged to $24.28 million while adjusted EBITDA stood at $5.73 million.
Cash and cash equivalents rose to $123.8 million, reflecting strong liquidity following debt repayments and preferred share issuance.
Management remains confident in long-term dry bulk fundamentals and is pursuing balance sheet optimization through asset disposals and sale-leasebacks.
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