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Dec 31, 2023
Genco Q4 2023 Earnings Report
Genco's financial performance was strong during the fourth quarter, capitalizing on its commercial platform and operating leverage.
Key Takeaways
Genco Shipping & Trading Limited reported a net income of $4.9 million for Q4 2023, which included a non-cash vessel impairment charge of $13.6 million. Adjusted net income was $18.6 million, excluding the impairment charge. The company declared a dividend of $0.41 per share for Q4 2023.
Declared a dividend of $0.41 per share for Q4 2023, marking the 18th consecutive quarterly payout.
Closed a $500 million revolving credit facility, enhancing capital allocation flexibility and improving terms.
Acquired two 2016-built scrubber-fitted Capesize vessels for $86.1 million in Q4 2023.
Net income of $4.9 million for Q4 2023, or adjusted net income of $18.6 million excluding non-cash vessel impairment charge.
Forward Guidance
Genco expects the first quarter to be solid as 81% of its Q1 days are fixed at over $18,700 per day.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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