Genco Shipping & Trading Q4 Earnings Call Highlights

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Genco Shipping & Trading (NYSE:GNK) utilized its fourth-quarter 2025 net telephone to item advancement nether the company’s multi-year “comprehensive worth strategy,” portion pointing to stronger adust bulk freight fundamentals successful the backmost fractional of 2025 and into aboriginal 2026. Management emphasized a operation of dividends, deleveraging, and opportunistic fleet growth, with a peculiar absorption connected larger vessels specified arsenic Capesize and Newcastlemax ships.

Chairman and CEO John C. Wobensmith said 2025 marked the 5th twelvemonth since Genco began implementing its worth strategy, which was launched successful April 2021 with 3 objectives: transforming the institution into a low-leverage, high-dividend business; maintaining flexibility to turn the fleet; and paying a quarterly dividend done cycles based connected a formula.

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Wobensmith said that since implementing the strategy, Genco has invested $347 cardinal successful modern vessels, distributed $270 cardinal successful dividends, and paid down $249 cardinal of debt. He added that the institution ended the 4th fourth with an “industry-low” nett loan-to-value of 12%.

During the quarter, Genco declared its 26th consecutive dividend, which Wobensmith described arsenic the longest play of uninterrupted dividends successful the company’s adust bulk adjacent group. He said the quarterly payout implied an annualized output of astir 9% connected the existent stock price.

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Chief Financial Officer Peter Allen reported fourth-quarter nett income of $15.4 million, oregon $0.35 per basal and diluted share. Adjusted nett income was $17.3 million, oregon $0.40 and $0.39 per basal and diluted share, excluding $1.9 cardinal of “shareholder-related expenses” categorized arsenic different operating expense.

Adjusted EBITDA totaled $42 cardinal successful the 4th quarter, up 94% sequentially from the 3rd quarter. For full-year 2025, adjusted EBITDA was $85.9 million.

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Allen said the committee declared a $0.50 per share dividend for the 4th quarter. The company’s dividend argumentation targets a organisation based connected 100% of operating currency travel minus a voluntary reserve. For the quarter, Allen said operating currency travel was $41 cardinal and the voluntary quarterly reserve was $19.5 million. Management characterized the payout arsenic the company’s highest successful 3 years and noted it was the highest quarterly dividend since Q4 2022.