GLOBUS MARITIME Q1 Earnings: $GLBS Beats Estimates, Revenue Misses

GLOBUS MARITIME ($GLBS) reported Q1 2025 earnings of -$0.07 per share, beating estimates of -$0.09. Revenue was $8.62mln, missing estimates of $10.91mln. Institutional investors have made significant changes to their positions in Q1 2025, with 5 adding shares and 5 decreasing their positions.

Globus Maritime (NASDAQ: GLBS), a dry bulk shipping company, announced its Q1 2025 earnings on June 16, 2025. The company reported a net loss of $1.5 million, or -$0.07 per share, which exceeded the consensus estimate of -$0.09 per share [1]. Revenue for the quarter came in at $8.6 million, falling short of the estimated $10.7 million [1].

The company's revenue increased by 13% compared to the same period last year, driven by an increase in the average number of vessels in operation. However, this was offset by a decrease in the daily Time Charter Equivalent (TCE) rate, which fell by 22% to $9,225 per vessel per day [2].

Globus Maritime's fleet, consisting of nine dry bulk carriers, has a weighted average age of 7.5 years as of June 16, 2025. The company's expansion and renewal efforts are ongoing, with two Ultramaxes under construction in Japan, scheduled for delivery in 2026 [2].

The company's adjusted EBITDA for the quarter was $1.97 million, a decrease of $39,000 compared to the same period last year. This was primarily due to an increase in voyage and operating vessel expenses, which rose by $1,751,000 [2].

Institutional investors made significant changes to their positions in Q1 2025. Five investors added shares, while five decreased their positions [1].

Globus Maritime remains focused on environmental sustainability, recently completing its first test voyage using biofuel. The company is committed to reducing carbon emissions and aligning with future environmental regulations [2].

References:
[1] https://seekingalpha.com/news/4457961-globus-maritime-q1-earnings-preview
[2] https://www.morningstar.com/news/globe-newswire/9469443/globus-maritime-limited-reports-financial-results-for-the-quarter-ended-march-31-2025