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Dec 31, 2019
Genco Q4 2019 Earnings Report
Genco Shipping & Trading Limited reported financial results for Q4 2019, which included a net income of $0.9 million and the completion of the scrubber installation program.
Key Takeaways
Genco Shipping & Trading Limited announced Q4 2019 financial results, reporting a net income of $0.9 million, or $0.02 per share. The company completed its scrubber installation program for 17 Capesize vessels and declared a regular quarterly cash dividend of $0.175 per share.
Declared a regular quarterly cash dividend of $0.175 per share for Q4 2019.
Completed the exhaust gas cleaning systems installation program for 17 Capesize vessels.
Recorded net income of $0.9 million for Q4 2019, with basic and diluted earnings per share of $0.02.
Adjusted net income for Q4 2019 was $3.0 million, or $0.07 per share, excluding certain charges and losses.
Forward Guidance
Genco Shipping anticipates that its strong liquidity and balance sheet will support the company as the year progresses. They expect an increase in demand for both major and minor bulk commodities once current market pressures subside, against a backdrop of low net fleet growth.
Historical Earnings Impact
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