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Genco Shipping & Trading Ltd (GNK)
NYSE:GNK
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.12Last Year’s EPS
-0.28Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong operating and financial improvements: record-ish quarterly EBITDA and TCE for the year, substantial dividend increases, low net leverage, significant liquidity, accretive fleet investments, and favorable dry bulk market fundamentals (notably Capesize demand driven by Brazilian and West African long-haul iron ore/bauxite). Offsetting items include rising charter and operating costs, remaining acquisition CapEx, increased asset prices making future purchases more expensive, and concentrated spot exposure (80% of days) which raises sensitivity to market volatility. Overall the positives — robust earnings, low leverage, strong liquidity, and clear strategy execution — materially outweigh the listed risks.Company Guidance
Strong Q4 Financial Performance
Q4 adjusted EBITDA of $42.0M (highest quarterly level since 2022) and TCE of $20,064/day, representing sequential improvement and contributing to full-year 2025 EBITDA of $85.9M.
Material YoY and Sequential TCE Improvement
TCE improved from ~ $12,000/day in Q1 2025 to $20,000/day in Q4 2025; estimated Q1 2026 TCE of ~ $18,000/day for 80% of owned days, which is over 50% higher than Q1 2025 levels and the highest Q1 since 2024.
Consistent and Increasing Capital Returns
Declared 26th consecutive quarterly dividend; Q4 dividend of $0.50/share (based on $41M operating cash flow and $19.5M voluntary reserve), marking the highest payout in 3 years and a 233% increase versus Q3 2025.
Low Financial Leverage and Strong Liquidity
Industry-low net loan-to-value of 12%, cash of $55.5M, debt of $200M and $400M undrawn revolver availability at year-end; pro forma post-acquisition expected debt of $330M with undrawn capacity of ~$350M after planned facility upsizing.
Accretive Fleet Investments and Asset Value Appreciation
Invested $347M in modern vessels since 2021, agreed to acquire two 2020-built Newcastlemaxes (delivery March 2026) with ~$131M remaining CapEx; Capesize/Newcastlemax assets appreciated nearly $40M and generated IRRs >30% since acquisition.
Favorable Market Fundamentals
Baltic Capesize Index averaged nearly $29,000/day in Q4 and peaked near $45,000/day in early December; Brazil iron ore shipments rose 26% H2 vs H1 and China iron ore imports +7% YoY in Q4, supporting long-haul demand and limited Capesize orderbook.
High Operating Leverage per TCE Movement
Every $1,000 fleet-wide TCE increase equates to ~$16M incremental annualized EBITDA (~$0.37/share); for the 19 Newcastlemax and Capesize vessels, every $5,000 increase equates to ~$34M (~$0.77/share).
Fleet Optimization and Market Positioning
Pro forma fleet of ~45 modern vessels (17 Capesize, 15 Ultramax, 11 Supramax; 40% Capes/60% Ultra-Supras by vessel count; ~50% Capesize by net revenue over two years) with 90% of 2025 dry-docking completed to maximize utilization.
GNK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GNK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 17, 2026 | $22.54 | $23.38 | +3.73% |
Nov 05, 2025 | $16.76 | $16.95 | +1.13% |
Aug 06, 2025 | $16.61 | $15.97 | -3.88% |
May 07, 2025 | $13.19 | $13.24 | +0.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Genco Shipping & Trading Ltd (GNK) report earnings?
Genco Shipping & Trading Ltd (GNK) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Genco Shipping & Trading Ltd (GNK) earnings time?
Genco Shipping & Trading Ltd (GNK) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GNK EPS forecast?
GNK EPS forecast for the fiscal quarter 2026 (Q1) is 0.12.