Castor Maritime ( (CTRM) ) has released its Q3 earnings. Here is a breakdown of the information Castor Maritime presented to its investors.
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Castor Maritime Inc., a diversified global shipping and energy company, operates in the maritime transportation sector, focusing on dry bulk and container shipping. The company recently reported its financial results for the third quarter and nine months ended September 30, 2025.
In the third quarter of 2025, Castor Maritime achieved a net income of $21.0 million, a significant increase from $2.8 million in the same period of 2024, despite a decrease in total vessel revenues from $13.4 million to $11.4 million. For the nine months ended September 30, 2025, the company reported a net income of $4.0 million, a sharp decline from $48.0 million in the previous year, with total vessel revenues decreasing by 34.3% to $32.9 million.
Key financial highlights include an EBITDA of $24.3 million for the third quarter, up from $5.0 million in 2024, and an adjusted EBITDA of $5.7 million, down from $6.8 million. The company also reported a cash position of $123.8 million as of September 30, 2025, up from $87.9 million at the end of 2024. Strategic moves included the completion of four vessel disposals and a sale-and-leaseback transaction to optimize capital structure.
Looking ahead, Castor Maritime’s management remains optimistic about the dry-bulk market’s long-term fundamentals, supported by improved rates and stronger charter demand. The company plans to leverage its solid balance sheet to capture future opportunities and continue delivering value.