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Dec 31, 2024
United Maritime Q4 2024 Earnings Report
United Maritime reported its Q4 2024 results with $10.8 million in net revenues, an adjusted EBITDA increase, but a net loss driven by seasonal market weakness and non-cash items.
Key Takeaways
United Maritime generated $10.8 million in net revenues in Q4 2024, slightly down from the prior year. The company recorded a net loss of $1.8 million, with adjusted net loss at $0.7 million. Adjusted EBITDA increased to $5.1 million, supported by efficient fleet management and optimization efforts.
Net revenues for Q4 2024 were $10.8 million, compared to $11.6 million in Q4 2023.
Adjusted EBITDA rose to $5.1 million, up from $4.6 million in the previous year.
Net loss of $1.8 million was reported for Q4 2024, driven by impairment charges and financing costs.
Cash and cash equivalents stood at $6.8 million as of December 31, 2024.
Forward Guidance
United Maritime expects to benefit from fleet modernization, strategic asset management, and favorable long-term dry bulk market fundamentals.
Positive Outlook
- Continued optimization and renewal of fleet composition.
- Extension of share repurchase program with $1.9 million remaining authorization.
- Long-term financing secured with no major debt maturities until Q4 2026.
- Active investment in AI-powered fleet monitoring for performance optimization.
- Potential market tailwinds from global trade shifts and geopolitical resolution.
Challenges Ahead
- Seasonal slowdowns in key commodities affected Q4 performance.
- Reduced TCE rates compared to the previous year.
- Higher interest and financing costs impacted results.
- Impairment charges contributed to quarterly losses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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