What is Navios Maritime's latest dividend and current dividend yield?

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

What is Navios Maritime's gross profit margin?

What were the key takeaways from Navios Maritime's earnings call?

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

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

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

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

- **Record Financials**: Q3 revenue $346.9M, EBITDA $193.9M, net income $56.3M, EPS $1.90, all up vs prior year.
- **Fleet Strength**: 9.7-year avg age vs 13.5 industry, $6.3B vessel value, 34.5% net LTV, $3.7B contracted revenue.
- **2026 Flexibility**: 58% days fixed, $894/day breakeven on 23,387 open days, 92% container coverage.
- **Debt Optimization**: 41% fixed at 6.2%, $300M bonds issued to reduce floating rate exposure.
- **Shareholder Returns**: $42.2M returned via buybacks, 5% units repurchased, $37.3M remaining capacity.

**【CEO Opening Remarks】**
- Q3 2025 revenue: $346.9 million (9M: $978.6M), EBITDA: $193.9M (9M: $519.8M), net income: $56.3M (9M: $168M), EPS: $1.90 (9M: $5.52).
- Fleet modernization: 171 vessels with avg age 9.7 years (industry: 13.5 years), 30% younger than peers in tankers.
- Financial strength: $6.3B gross vessel value, $3.8B net equity, 34.5% net LTV, $412M liquidity.
- Risk management: 92% container and 70% tanker days fixed, $3.7B contracted revenue backlog.
- Capital return: $42.2M returned via dividend and buyback, 5% units repurchased, $37.3M remaining buyback capacity.

**【COO Segment Overview】**
- Q4 2025: 88% days fixed at $24,871/day, $86M cash flow from contracted revenue, 1,594 open days at $894/day breakeven.
- 2026: 58% days fixed at $27,088/day, $860M revenue, 23,387 open days at $894/day breakeven.
- Fleet renewal: $1.9B invested in 25 newbuilds (8 container, 17 tankers), 11 tankers chartered for 5+ years, $600M+ contracted revenue.
- Vessel sales: $275M from 12 older vessels (avg age 18+ years) in 2025.

**【CFO Financial Results】**
- Q3 2025 revenue +1.8% vs 2024: $347M vs $341M, TCE rate +2.4% to $24,167/day.
- 9M 2025: Revenue -3.3%, EBITDA -5.4%, net income -26.5%, TCE rates +3.1% (containers), -9.2% (dry bulk), -3.5% (tankers).
- Cost control: OpEx rate +2.4% to $6,161/day, 41% debt fixed at 6.2% avg rate, $300M senior bonds issued to refinance floating debt.
- Balance sheet: $382M cash, net debt/EBITDA 33.8%, $1.2B debt-free vessels post-bond issuance.

**【Q&A Highlights】**
- **Vessel Fixing Strategy**: 50%+ dry bulk exposure in 2026 to capitalize on rising rates, 92% container coverage provides stability.
- **Smaller Containerships**: Actively monitoring feeder (<2,000 TEU) market for flexibility in shifting trade patterns, but cautious on newbuild pricing and counterparty risk.
- **Bond Proceeds**: Used to refinance $292M floating debt, reducing interest rate risk and freeing up $1.2B in debt-free vessels for strategic flexibility.
- **2026 Outlook**: 23,387 open days at $894/day breakeven, 92% container and 70% tanker coverage creates optionality for upside in strong markets.

Navios Maritime Partners L.P.(NMM)-20251118-2025 Q3 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

NMM

NMM fundamentals

You can ask Aime