What guidance did Seanergy Maritime's management provide for the next earnings period?

What were the key takeaways from Seanergy Maritime’s earnings call?

What factors drove the changes in Seanergy Maritime's revenue and profit?

Did Seanergy Maritime beat or miss consensus estimates last quarter?

What is Seanergy Maritime's gross profit margin?

What is the market's earnings forecast for Seanergy Maritime next quarter?

What is the revenue and EPS growth rate for Seanergy Maritime year over year?

What does Seanergy Maritime do and what are its main business segments?

- **Revenue and Dividends**: Q3 net revenue $47M, EBITDA $27.5M, net income $12.8M. Dividend of $0.13/share declared, total 2025 distributions $0.23/share.
- **Strategic Fleet Expansion**: $75M newbuild Capesize vessel for 2027 delivery; sold older vessel for $21.6M, freeing $12M liquidity.
- **Market Strength**: Capesize rates at $24,600/day, driven by iron ore and bauxite demand. 2025 newbuilding orders at 1.5% fleet growth, 7% of fleet over 20 years old.
- **Financial Health**: Cash $37M, debt-to-fleet value 45%. Newbuild financing at 2% margin, interest rates below 6%.

**【CEO Summary Section】**
- **Q3 Financial Highlights**: Net revenue of $47 million, adjusted EBITDA of $27.5 million, and net income of $12.8 million. Dividend of $0.13 per share declared, bringing total 2025 distributions to $0.23 per share.
- **Fleet Renewal**: Ordered a 181,000 DWT Capesize vessel for $75 million, scheduled for Q2 2027 delivery. Sold an older vessel for $21.6 million, freeing $12 million in liquidity.
- **Market Outlook**: Capesize rates at $24,600/day, driven by iron ore and bauxite demand. 2025 newbuilding orders at 1.5% fleet growth, with 7% of fleet over 20 years old.

**【CFO Financial Commentary】**
- **Year-to-Date Performance**: Net revenue $108.7 million, adjusted EBITDA $52.8 million, net income $8.8 million. Cash position $37 million, debt-to-fleet value ratio 45%.
- **Newbuilding Financing**: 45% ($33.75 million) to be paid over 12 months, 55% ($33.75 million) at delivery. Interest rates expected below 6%.
- **Dividend Policy**: Distributed $5 million in dividends despite H1 challenges, reaffirming shareholder returns.

**【Q&A Highlights】**
- **Fleet Growth Strategy**: Prioritizes newbuilds for efficiency, with selective secondhand acquisitions. Avoids debt-heavy newbuilds, focusing on 2027 delivery for timing.
- **Charter Pricing Power**: Secures premium over BCI through forward contracts, balancing downside risk with cash flow stability.
- **Debt Costs**: Current average interest rate ~5.5%, with refinancing options for lower rates.

Seanergy Maritime Holdings Corp. (SHIP) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SHIP

SHIP fundamentals

You can ask Aime