Overview
Performance Shipping Q2 2025 revenue falls 12% yr/yr due to fleet reduction
Net income for Q2 2025 declines 11% yr/yr amid geopolitical tensions
Co achieves higher TCE rates despite operating a smaller fleet
Outlook
Performance Shipping aims to acquire a younger, competitive fleet
Company raised $100 mln for fleet expansion
Crude tanker demand supported by increased OPEC+ exports
Product tanker demand expected to decline in 2025
Result Drivers
FLEET REDUCTION - Revenue decline attributed to fewer ownership days following vessel sale
HIGHER TCE RATES - Achieved average TCE rate of $32,295, up from $30,970 in prior year
GEOPOLITICAL TENSIONS - Market volatility in June due to Middle East tensions, per CEO Andreas Michalopoulos
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | $18.14 mln | ||
Q2 EPS | $0.23 | ||
Q2 Net Income | $9.07 mln | ||
Q2 Basic EPS | $0.69 | ||
Q2 Vessel Operating Expenses | $4.57 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Performance Shipping Inc is $5.75, about 69.3% above its July 29 closing price of $1.77
The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 2 three months ago
Press Release: ID:nGNX24j31Z
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.