C3is Inc. reports Q1 adjusted EPS $1.05 vs. $32.28 last year

Reports revenue $8.7M vs. $12.8M last year. CEO Dr. Diamantis Andriotis commented: “For the first quarter of 2025, we reported a Net Income of $7.9 million, an increase of 109% from Q1 2024, but our Revenues decreased by 32%, due to the drop in TCE rates. By April 2025, we had successfully fulfilled all of our capital expenditure commitments without resorting to any bank loans. We have therefore more than trebled the deadweight tonnage of our fleet, which is exclusively non-Chinese built, without incurring any bank debts. The global economic environment is poised for a year of mixed signals in 2025, with risks and opportunities influencing the shipping sector. Economic shocks, financial market responses, and evolving policy measures are expected to shape the outlook, contributing to a cautious, yet dynamic landscape. Whilst global growth may be moderate, and inflationary pressures persist, these challenges also create room for market adjustments and new trade patterns. C3is will adapt to these evolving dynamics by focusing on diversification and aligning with the growing emphasis on sustainable practices, which are poised to reshape trade in the coming years. With careful navigation and adaptability, the Company is well-positioned to leverage regional growth drivers and evolving economic dynamics to maintain resilience in the year ahead. We would like to thank you for joining us today and look forward to having you with us again at our next call for the results of the 2nd quarter of 2025.”