Education
About Us
Working with TipRanks
Follow Us
Genco Shipping (GNK)
NYSE:GNK
Top Page
Genco Shipping
(NYSE:GNK)
Rating:67Neutral
Price Target:
$18.50
â–²(9.86% Upside)
Genco Shipping (GNK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$723.44M
Dividend Yield5.94%
Average Volume (3M)599.19K
Price to Earnings (P/E)48.3
Beta (1Y)1.10
Revenue Growth-17.15%
EPS Growth2.40%
CountryUS
Employees1,037
SectorIndustrials
Sector Strength79
IndustryMarine Shipping
Share Statistics
EPS (TTM)-0.14
Shares Outstanding42,959,465
10 Day Avg. Volume495,128
30 Day Avg. Volume599,194
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.80
Enterprise Value/Gross Profit6.39
Enterprise Value/Ebitda6.48
Forecast
1Y Price Target
$20.83Price Target Upside23.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
Genco Shipping Business Overview & Revenue Model
Company DescriptionGenco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities. As of December 31, 2021, the company fleet consisted of 44 dry bulk carriers, including 17 Capesize, 15 Ultramax, and 12 Supramax with an aggregate capacity of approximately 4,636,000 deadweight tons. Genco Shipping & Trading Limited was incorporated in 2004 and is headquartered in New York, New York.
How the Company Makes MoneyGenco Shipping generates revenue primarily through the chartering of its vessels, which is based on both time charters and spot market contracts. Time charters provide a stable income stream as customers pay for the vessel's availability over a specified period, while spot market contracts can yield higher returns during favorable market conditions. The company also benefits from operational efficiencies and cost management strategies that enhance profitability. Additionally, Genco may engage in partnerships or long-term contracts with major commodity producers and traders, which can provide predictable revenue and reduce exposure to market volatility.
Genco Shipping Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Neutral
The call highlighted Genco Shipping's strong commitment to shareholder returns and strategic fleet expansion, supported by increased financial flexibility through a new credit facility. Despite a net loss in Q2 and challenges such as soft Chinese coal demand and an intensive dry docking schedule, the positive outlook for freight rates and corporate governance were notable positives.Q2-2025 Updates
Positive Updates
Commitment to Shareholder Returns
Declared a dividend of $0.15 per share for Q2 2025, extending the track record of 24 consecutive quarters of dividends. Despite a challenging quarter, management reduced the voluntary reserve, highlighting a commitment to shareholder returns.
Expansion of Capesize Fleet
Agreed to purchase a 2020 Imabari built scrubber-fitted Capesize vessel, expanding the fleet in a sector with compelling supply and demand fundamentals. This is the fourth high-specification fuel-efficient Capesize vessel acquired since Q4 2023.
Increased Financial Flexibility
Closed a new $600 million revolving credit facility, increasing borrowing capacity by 50%. This provides significant financial flexibility to pursue growth opportunities and enhance shareholder value.
Improved Freight Rates
Q3 TCE to date is strong with rates fixed at $15,900 per day, a 17% increase from Q2. Capesize rates increased by nearly 25% in Q3, highlighting significant operating leverage.
Strong Corporate Governance
Genco was ranked #1 in the Webber Research ESG scorecard for four consecutive years, demonstrating a commitment to strong corporate governance.
Negative Updates
Net Loss for Q2 2025
Recorded a net loss of $6.8 million or $0.16 per share. The adjusted net loss was $0.14 per share, excluding a non-cash impairment charge of $0.7 million.
Soft Chinese Coal Demand
Chinese coal demand saw a decline during the quarter, impacting the overall demand environment.
Intensive Dry Docking Schedule
The company faced an intensive dry docking schedule, completing 12 dry dockings, which impacted cash flow and operational efficiency.
Company Guidance
During the Genco Shipping & Trading Limited Second Quarter 2025 Earnings Conference Call, the company highlighted several key metrics and strategic decisions. They declared a $0.15 per share dividend for Q2, marking 24 consecutive quarters of dividends and a total of $6.915 in dividends per share, representing 41% of their current share price. Despite a voluntary reserve reduction from $19.5 million to $7.9 million, they maintained the dividend, underscoring their commitment to shareholder returns. The company reported a net loss of $6.8 million or $0.16 per share, with an adjusted EBITDA of $14.3 million. Genco also enhanced its financial flexibility by closing a $600 million revolving credit facility, increasing borrowing capacity by 50%. In Q3 2025, they have 70% of owned available days fixed at an approximate rate of $15,900 per day, up from Q2's TCE of $17,000 per day, with a cash flow breakeven rate of about $8,900 per vessel per day. Genco's fleet expansion includes the purchase of a 2020-built Capesize vessel, financed through their enhanced credit facility. The company's net loan-to-value is expected to rise to approximately 13% post-acquisition. With an industry-low net loan-to-value ratio, Genco is positioned advantageously to capitalize on market opportunities.Genco Shipping Financial Statement Overview
Summary
Genco Shipping shows a mixed financial performance. The income statement indicates challenges in revenue growth but maintains reasonable profitability margins. The balance sheet is robust with low leverage, providing financial stability. However, the cash flow statement highlights a decline in free cash flow growth, which could impact future liquidity.Income Statement
Genco Shipping's income statement shows a mixed performance. The TTM data indicates a decline in revenue growth by 6.93%, reflecting challenges in maintaining top-line growth. However, the company maintains a reasonable gross profit margin of 28.17% and a net profit margin of 4.39%, suggesting some level of operational efficiency. The EBIT and EBITDA margins are moderate at 7.64% and 27.75%, respectively, indicating stable earnings before interest and taxes. Despite the recent revenue decline, the company has shown resilience in profitability.65
Positive
Balance Sheet
The balance sheet of Genco Shipping is strong, with a low debt-to-equity ratio of 0.67%, indicating minimal leverage and financial risk. The return on equity (ROE) is modest at 1.69%, suggesting limited returns on shareholder investments. The equity ratio stands at 85.68%, highlighting a solid equity base relative to total assets. Overall, the company maintains a stable financial position with low leverage, which is a positive indicator for long-term sustainability.78
Positive
Cash Flow
The cash flow statement reveals some concerns, with a significant decline in free cash flow growth by 52.59% in the TTM period. The operating cash flow to net income ratio is healthy at 1.52, indicating good cash generation relative to net income. However, the free cash flow to net income ratio is lower at 0.25, suggesting limited free cash flow relative to earnings. The decline in free cash flow growth is a potential risk factor that needs to be addressed.55
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 350.74M | 423.02M | 383.82M | 536.93M | 547.13M | 355.56M |
| Gross Profit | 98.81M | 116.68M | 68.16M | 196.26M | 226.26M | 35.68M |
| EBITDA | 97.34M | 159.87M | 60.62M | 230.06M | 255.02M | -136.63M |
| Net Income | 15.41M | 76.40M | -12.87M | 158.58M | 182.01M | -247.13M |
Balance Sheet | ||||||
| Total Assets | 1.04B | 1.06B | 1.14B | 1.17B | 1.20B | 1.23B |
| Cash, Cash Equivalents and Short-Term Investments | 35.75M | 43.69M | 46.54M | 58.14M | 114.57M | 143.87M |
| Total Debt | 98.96M | 89.22M | 194.26M | 171.12M | 246.29M | 449.40M |
| Total Liabilities | 147.21M | 128.37M | 227.26M | 205.56M | 286.33M | 487.81M |
| Stockholders Equity | 891.60M | 926.74M | 913.26M | 967.43M | 916.59M | 744.99M |
Cash Flow | ||||||
| Free Cash Flow | 18.25M | 70.17M | -2.23M | 133.28M | 113.66M | 16.86M |
| Operating Cash Flow | 73.87M | 126.85M | 91.78M | 189.32M | 231.12M | 36.90M |
| Investing Cash Flow | -23.93M | 47.85M | -91.62M | -55.02M | -67.57M | 37.44M |
| Financing Cash Flow | -56.53M | -177.55M | -17.40M | -190.74M | -222.69M | -56.91M |
Genco Shipping Technical Analysis
Positive
16.84
Price Trends
15.27
Positive
14.17
Positive
14.11
Positive
Market Momentum
0.44
Negative
60.84
Neutral
88.95
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GNK, the sentiment is Positive. The current price of 16.84 is above the 20-day moving average (MA) of 16.47, above the 50-day MA of 15.27, and above the 200-day MA of 14.11, indicating a bullish trend. The MACD of 0.44 indicates Negative momentum. The RSI at 60.84 is Neutral, neither overbought nor oversold. The STOCH value of 88.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GNK.
Genco Shipping Risk Analysis
Genco Shipping disclosed 48 risk factors in its most recent earnings report. Genco Shipping reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Genco Shipping Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.14B | 17.64 | 5.11% | 4.24% | 2.95% | -61.74% | |
73 Outperform | $434.86M | 9.96 | 6.58% | 4.71% | -9.65% | -46.46% | |
71 Outperform | $658.54M | 18.16 | 6.96% | 9.32% | -3.87% | -46.50% | |
67 Neutral | $723.44M | 48.27 | 1.70% | 5.94% | -17.15% | 2.40% | |
67 Neutral | $1.59B | 14.04 | 6.06% | 10.03% | -7.73% | -39.13% | |
64 Neutral | $10.76B | 15.86 | 7.74% | 2.00% | 2.63% | -15.75% | |
58 Neutral | $1.08B | 31.07 | 3.35% | 13.28% | 3.51% | -74.00% |
* Industrials Sector Average
Performance Comparison
GNK
Genco Shipping
16.84
0.90
5.65%
NAT
Nordic American Tanker
3.11
-0.21
-6.33%
SB
Safe Bulkers
4.25
-0.37
-8.01%
SFL
SFL Corporation
8.13
-2.12
-20.68%
SBLK
Star Bulk Carriers
18.65
-0.95
-4.85%
GOGL
Golden Ocean Group
7.98
-2.76
-25.70%
Genco Shipping Corporate Events
Executive/Board Changes
Genco Shipping Announces Board Restructuring After Resignation
Neutral
Aug 28, 2025
On August 26, 2025, Genco Shipping & Trading Limited announced the resignation of James G. Dolphin from its Board of Directors, effective immediately, with no disagreements on company strategy or operations. In response, CEO John C. Wobensmith was appointed as Chairman of the Board, and Kathleen C. Haines was named Lead Independent Director, enhancing the board’s independent oversight. Additionally, Arthur L. Regan and Basil G. Mavroleon were appointed to key committee roles, effective the same day, as part of the company’s succession planning.
Private Placements and FinancingBusiness Operations and Strategy
Genco Shipping Expands Credit Facility by $100 Million
Positive
Jul 14, 2025
On July 10, 2025, Genco Shipping & Trading Limited announced a significant amendment to its credit agreement, increasing its revolving credit facility from $500 million to $600 million. This amendment, involving several financial institutions, extends the maturity date to July 2030 and introduces terms that support the company’s growth and operational flexibility, including performance-based interest rate adjustments related to emissions targets.
Business Operations and StrategyFinancial Disclosures
Genco Shipping Updates Q2 2025 TCE Rate Estimate
Neutral
Jun 13, 2025
On June 13, 2025, Genco Shipping updated its estimated TCE rate for Q2 2025 to approximately $13,800 per day for 95% of its available days, reflecting both period and spot fixtures. This estimation, based on current bookings, may impact the company’s financial performance and market positioning, but actual results could vary due to factors like voyage duration and market conditions.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.