In This Article:
Genco Shipping & Trading (NYSE:GNK) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$99.3m (up 19% from 3Q 2023).
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Net income: US$21.5m (up from US$32.0m loss in 3Q 2023).
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Profit margin: 22% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses.
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EPS: US$0.50 (up from US$0.75 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Genco Shipping & Trading EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 28%.
Looking ahead, revenue is forecast to decline by 17% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Performance of the American Shipping industry.
The company's shares are up 11% from a week ago.
Risk Analysis
Be aware that Genco Shipping & Trading is showing 1 warning sign in our investment analysis that you should know about...
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