United Maritime Reports 2024 Financial Results and Strategic Moves

United Maritime Corp. ( (USEA) ) has issued an announcement.

United Maritime Corporation reported its financial results for the fourth quarter and the full year ending December 31, 2024. The company declared a quarterly cash dividend of $0.01 per share for Q4 2024, marking its ninth consecutive quarterly distribution. Despite a net loss of $1.8 million for the quarter, the company saw an increase in adjusted EBITDA to $5.1 million compared to the previous year. Strategic initiatives included the acquisition of a new Kamsarmax vessel and the sale of an older Capesize vessel, along with securing $48.3 million in financing to support these moves. The company also extended its share repurchase program, highlighting its focus on shareholder value amid a challenging market environment.

More about United Maritime Corp.

United Maritime Corporation is a company operating in the maritime industry, focusing on the management and operation of a dry bulk fleet. The company is involved in strategic fleet enhancement and shareholder returns, with a market focus on optimizing fleet operations and financial performance.

YTD Price Performance: -6.82%

Average Trading Volume: 53,463

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $14.5M

For an in-depth examination of USEA stock, go to TipRanks’ Stock Analysis page.