View Financial HealthPerformance Shipping 배당 및 자사주 매입배당 기준 점검 0/6Performance Shipping 현재 배당금을 지급하지 않습니다.핵심 정보0%배당 수익률-0.005%자사주 매입 수익률총 주주 수익률-0.005%미래 배당 수익률n/a배당 성장률n/a다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향0%최근 배당 및 자사주 매입 업데이트공시 • Aug 22Performance Shipping Inc. (NasdaqCM:PSHG) announces an Equity Buyback for $2 million worth of its shares.Performance Shipping Inc. (NasdaqCM:PSHG) announces a share repurchase program. Under the program, the company will repurchase up to $2 million worth of its common stock. The repurchase program will expire on August 31, 2024. As of August 18, 2023, the company had 10,910,319 outstanding common shares.모든 업데이트 보기Recent updatesNew Risk • May 27New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (30% net profit margin). Market cap is less than US$100m (US$20.5m market cap).분석 기사 • May 06There Are Some Holes In Performance Shipping's (NASDAQ:PSHG) Solid Earnings ReleaseShareholders didn't seem to be thrilled with Performance Shipping Inc.'s ( NASDAQ:PSHG ) recent earnings report...New Risk • May 05New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 75% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (75% accrual ratio). Minor Risks High level of debt (54% net debt to equity). Market cap is less than US$100m (US$22.6m market cap).New Risk • Mar 06New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 54% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Large one-off items impacting financial results. Market cap is less than US$100m (US$27.0m market cap).분석 기사 • Feb 06Here's What To Make Of Performance Shipping's (NASDAQ:PSHG) Decelerating Rates Of ReturnFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...분석 기사 • Dec 05Investors Still Aren't Entirely Convinced By Performance Shipping Inc.'s (NASDAQ:PSHG) Revenues Despite 26% Price JumpPerformance Shipping Inc. ( NASDAQ:PSHG ) shares have continued their recent momentum with a 26% gain in the last month...분석 기사 • Dec 02Here's Why Performance Shipping (NASDAQ:PSHG) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Reported Earnings • Nov 26Third quarter 2025 earnings released: EPS: US$0.28 (vs US$0.96 in 3Q 2024)Third quarter 2025 results: EPS: US$0.28 (down from US$0.96 in 3Q 2024). Revenue: US$18.5m (down 19% from 3Q 2024). Net income: US$3.45m (down 71% from 3Q 2024). Profit margin: 19% (down from 52% in 3Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings.공시 • Nov 05Performance Shipping Inc., Annual General Meeting, Dec 03, 2025Performance Shipping Inc., Annual General Meeting, Dec 03, 2025, at 12:00 GTB Standard Time. Location: 373 syngrou avenue, 175 64 palaio faliro, athens, greece, GreeceNew Risk • Aug 05New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (US$20.5m market cap).Reported Earnings • Aug 01Second quarter 2025 earnings released: EPS: US$0.69 (vs US$0.79 in 2Q 2024)Second quarter 2025 results: EPS: US$0.69 (down from US$0.79 in 2Q 2024). Revenue: US$18.1m (down 12% from 2Q 2024). Net income: US$8.62m (down 11% from 2Q 2024). Profit margin: 48% (in line with 2Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings.New Risk • May 29New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 48% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$20.8m market cap).Reported Earnings • Apr 19Full year 2024 earnings released: EPS: US$3.39 (vs US$5.43 in FY 2023)Full year 2024 results: EPS: US$3.39 (down from US$5.43 in FY 2023). Revenue: US$87.4m (down 20% from FY 2023). Net income: US$41.9m (down 26% from FY 2023). Profit margin: 48% (down from 52% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Shipping industry in the US.Board Change • Mar 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Non-Executive Director Alex Papageorgiou was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Feb 21Full year 2024 earnings released: EPS: US$3.39 (vs US$5.43 in FY 2023)Full year 2024 results: EPS: US$3.39 (down from US$5.43 in FY 2023). Revenue: US$87.4m (down 20% from FY 2023). Net income: US$41.9m (down 26% from FY 2023). Profit margin: 48% (down from 52% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Shipping industry in the US.공시 • Nov 20Performance Shipping Inc., Annual General Meeting, Dec 17, 2024Performance Shipping Inc., Annual General Meeting, Dec 17, 2024, at 17:00 GTB Standard Time. Location: at watson farley & williams, 348 syngrou avenue, kallithea 176-74, athens, GreeceReported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$0.96 (up from US$0.88 in 3Q 2023). Revenue: US$22.9m (down 5.1% from 3Q 2023). Net income: US$12.0m (up 21% from 3Q 2023). Profit margin: 52% (up from 41% in 3Q 2023). Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.Reported Earnings • Jul 28Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: US$0.79 (down from US$1.53 in 2Q 2023). Revenue: US$20.5m (down 35% from 2Q 2023). Net income: US$9.73m (down 46% from 2Q 2023). Profit margin: 47% (down from 57% in 2Q 2023). Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 3.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Shipping industry in the US.New Risk • Jul 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (US$27.0m market cap).Reported Earnings • Jun 04First quarter 2024 earnings released: EPS: US$0.89 (vs US$0.68 in 1Q 2023)First quarter 2024 results: EPS: US$0.89 (up from US$0.68 in 1Q 2023). Revenue: US$22.4m (down 24% from 1Q 2023). Net income: US$11.0m (up 137% from 1Q 2023). Profit margin: 49% (up from 16% in 1Q 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.Reported Earnings • Mar 10Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: US$5.43. Revenue: US$108.9m (up 45% from FY 2022). Net income: US$56.9m (up 374% from FY 2022). Profit margin: 52% (up from 16% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.공시 • Oct 26Sphinx Investment Corp. made a tender offer to acquire Performance Shipping Inc. (NasdaqCM:PSHG) for $34.3 million.Sphinx Investment Corp. made a tender offer to acquire Performance Shipping Inc. (NasdaqCM:PSHG) for $34.3 million on October 11, 2023. The offer price is $3 cash per share. The Board of Performance Shipping appointed a Special Committee of independent directors of the Board to approve the offer. The offer period will expire on November 8, 2023, until further extended. Robert B. Greco of Richards, Layton & Finger, P.A. and Will Vogel of Watson, Farley & Williams acted as legal counsel and Newbridge Securities Corporation acted as independent financial advisor to Richards, Layton & Finger, P.A.New Risk • Oct 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (62% accrual ratio). Shareholders have been substantially diluted in the past year (190% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$25.2m market cap).분석 기사 • Oct 04Performance Shipping (NASDAQ:PSHG) Is Investing Its Capital With Increasing EfficiencyIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...공시 • Aug 22Performance Shipping Inc. (NasdaqCM:PSHG) announces an Equity Buyback for $2 million worth of its shares.Performance Shipping Inc. (NasdaqCM:PSHG) announces a share repurchase program. Under the program, the company will repurchase up to $2 million worth of its common stock. The repurchase program will expire on August 31, 2024. As of August 18, 2023, the company had 10,910,319 outstanding common shares.공시 • Aug 17Performance Shipping Inc. Regains Compliance with Nasdaq Minimum Bid Price RequirementPerformance Shipping Inc. announced that the Nasdaq Stock Market (“Nasdaq”) has confirmed that the Company has regained compliance with Nasdaq's minimum bid price requirements for continued listing on the Nasdaq Capital Market. Nasdaq’s letter noted that, as a result of the closing bid price of the Company's common shares having been at $1.00 per share or greater for at least ten consecutive business days, from August 1, 2023 through August 14, 2023, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), and the matter is now closed. Commenting on this development, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “We are very pleased to have regained compliance with Nasdaq’s listing requirements as a result of an organic increase in the market price of our shares, without the need to effect a reverse stock split”.New Risk • Aug 10New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 62% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (62% accrual ratio). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$13.7m market cap).Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: US$1.53 (vs US$10.51 in 2Q 2022)Second quarter 2023 results: EPS: US$1.53. Revenue: US$31.5m (up 88% from 2Q 2022). Net income: US$17.9m (up 388% from 2Q 2022). Profit margin: 57% (up from 22% in 2Q 2022).분석 기사 • Jul 04There's Been No Shortage Of Growth Recently For Performance Shipping's (NASDAQ:PSHG) Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Reported Earnings • Jun 25First quarter 2023 earnings released: EPS: US$0.68 (vs US$51.46 loss in 1Q 2022)First quarter 2023 results: EPS: US$0.68 (up from US$51.46 loss in 1Q 2022). Revenue: US$29.5m (up 245% from 1Q 2022). Net income: US$4.62m (up US$16.1m from 1Q 2022). Profit margin: 16% (up from net loss in 1Q 2022).분석 기사 • Mar 04Performance Shipping (NASDAQ:PSHG) Is Experiencing Growth In Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Reported Earnings • Mar 01Full year 2022 earnings released: EPS: US$8.97 (vs US$30.16 loss in FY 2021)Full year 2022 results: EPS: US$8.97 (up from US$30.16 loss in FY 2021). Revenue: US$75.2m (up 106% from FY 2021). Net income: US$36.3m (up US$46.4m from FY 2021). Profit margin: 48% (up from net loss in FY 2021).Valuation Update With 7 Day Price Move • Feb 14Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$2.58, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 98% over the past three years.Valuation Update With 7 Day Price Move • Jan 24Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to US$2.67, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 98% over the past three years.공시 • Jan 14Performance Shipping Inc., Annual General Meeting, Feb 22, 2023Performance Shipping Inc., Annual General Meeting, Feb 22, 2023. Agenda: 2023 annual general meeting of shareholders.Valuation Update With 7 Day Price Move • Jan 03Investor sentiment improved over the past weekAfter last week's 16% share price gain to US$3.54, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 97% over the past three years.Valuation Update With 7 Day Price Move • Dec 12Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to US$3.48, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 97% over the past three years.Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: US$7.40 (vs US$6.43 loss in 3Q 2021)Third quarter 2022 results: EPS: US$7.40 (up from US$6.43 loss in 3Q 2021). Revenue: US$22.1m (up 137% from 3Q 2021). Net income: US$20.3m (up US$22.4m from 3Q 2021). Profit margin: 92% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue.Board Change • Nov 16High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Seeking Alpha • Sep 30Performance Shipping to acquire Aframax tanker vessel for $35MPerformance Shipping (NASDAQ:PSHG) said Friday it will acquire the M/T Phoenix Beacon, a 105,525 dwt Aframax tanker vessel built by Hyundai Heavy Industries, from an unaffiliated third party for $35M. The vessel is fitted with a ballast water treatment system and its next scheduled special survey is not due till 2026. The M/T Phoenix Beacon is expected to be delivered to PSHG by early Dec. and will be renamed M/T P. Monterey. PSHG expects to fund the acquisition with cash on hand and debt through a new senior secured facility that it expects to enter into prior to the vessel's delivery. The latest acquisition expands PSHG's Aframax fleet from five to eight vessels in six months. "We intend to fund this acquisition with bank debt of ~$30M and the rest from available cash, still maintaining a modest overall level of financial leverage fleetwide. With the delivery of the two newly acquired Aframax tankers during Q4, our fleet will be well positioned to potentially generate significant cash flow moving forward," said PSHG CEO Andreas Michalopoulos.Seeking Alpha • Sep 22Performance Shipping announces time charter contract for LR2 Aframax oil product tankerPerformance Shipping (NASDAQ:PSHG) said Thursday it entered into a time charter contract with Trafigura Maritime Logistics for the LR2 Aframax oil product tanker the M/T Alpine Amalia, to be renamed P. Aliki. The gross charter rate will be $45K per day for a minimum of seven months to a maximum of ten months at the option of Trafigura and will start after the vessel's delivery to PSHG expected in Nov. The charter is expected to generate ~$9.5M-$13.7M in gross revenue, depending on the duration of the charter.Seeking Alpha • Aug 22Performance Shipping terminates ATM offering agreement with H.C. WainwrightShipping company Performance Shipping (NASDAQ:PSHG) has terminated an at-the-market offering agreement with H.C. Wainwright & Co., effective Aug. 23. PSHG said it does not intend to raise additional capital or sell additional shares under the ATM agreement. The company issued and sold 526,916 shares prior to the termination of the offering, raising net proceeds of ~$1.3M. Shares were trading +11.79% pre-market. Source: Press ReleaseSeeking Alpha • Aug 12Performance Shipping plummets on pricing $15M in stock offeringPerformance Shipping (NASDAQ:PSHG) entered into a securities purchase agreement with several institutional investors to purchase ~33.3M of its shares and warrants at a purchase price of $0.45 per share and accompanying warrant in a registered direct offering. The warrants will be immediately exercisable, will expire five years from issuance date and will have an initial exercise price of $0.45/share. Gross proceeds estimated to be ~$15M. The Offering is expected to close on or about Aug16, 2022.분석 기사 • Aug 12Health Check: How Prudently Does Performance Shipping (NASDAQ:PSHG) Use Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reported Earnings • Aug 06Second quarter 2022 earnings released: EPS: US$4.37 (vs US$0.53 loss in 2Q 2021)Second quarter 2022 results: EPS: US$4.37 (up from US$0.53 loss in 2Q 2021). Revenue: US$16.7m (up 83% from 2Q 2021). Net income: US$22.9m (up US$25.5m from 2Q 2021).Seeking Alpha • Aug 04Performance Shipping GAAP EPS of $0.10, revenue of $16.71MPerformance Shipping press release (NASDAQ:PSHG): Q2 GAAP EPS of $0.10. Revenue of $16.71M (+83.2% Y/Y). Shares -3% PM.Seeking Alpha • Jul 28Performance Shipping charters M/T Blue Moon tanker vessel for $23K/dayPerformance Shipping (NASDAQ:PSHG) has entered into a time charter deal with Teekay Chartering for M/T Blue Moon, one of its Aframax tanker vessels. The 2011-built, 104,623 DWT vessel was chartered at $23K/day for 24 months +/-30 days at the option of the charterer. The contract commenced on July 27, 2022 and is expected to generate ~$16.8M in gross revenue. Shares have opened today's trading with a gain, currently up 13%Seeking Alpha • Jul 18Performance receives Nasdaq notification regarding minimum bid price requirementPerformance Shipping (NASDAQ:PSHG) received Nasdaq notification dated July 13, 2022, regarding minimum bid price requirement. The company has grace period of 180 days or until January 9, 2023 to regain compliance. If the company fails to regain compliance with the minimum bid price requirement within the grace period, the company may be eligible for an additional 180 day grace period to regain compliance. The company will monitor the closing bid price of its common stock during this grace period and will consider its options to cure the deficiency. Shares +4.15% premarketReported Earnings • Jul 05First quarter 2022 earnings released: US$3.43 loss per share (vs US$0.57 loss in 1Q 2021)First quarter 2022 results: US$3.43 loss per share (down from US$0.57 loss in 1Q 2021). Revenue: US$8.57m (up 2.0% from 1Q 2021). Net loss: US$11.5m (loss widened 302% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings.Seeking Alpha • Jul 05Performance Shipping takes delivery of Aframax Tanker VesselPerformance Shipping (NASDAQ:PSHG), through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Sophia, a 2009-built Aframax tanker of 105,071 dwt, that the company entered into an agreement to purchase in June 2022. This increases the fleet size to a total of six Aframax Tankers, all currently operating in the firm spot charter market.Seeking Alpha • Jun 29Performance Shipping GAAP EPS of -$3.43, revenue of $8.57MPerformance Shipping press release (NASDAQ:PSHG): Q1 GAAP EPS of -$3.43. Revenue of $8.57M (+2.0% Y/Y).Seeking Alpha • May 30Performance Shipping: Equity Offering Dilutes Common Shareholders At A 95% Discount To Net Asset Value - SellDiscussing onerous terms of last week's equity offering and updating net asset value estimates. Providing additional details on the company's recent exchange offer. Friday's sell-off will likely result in the requirement to conduct another reverse stock split next year. Expect the company to announce a new second-hand vessel acquisition soon. Going forward, Performance Shipping's common shares might still provide some decent trading opportunities from time to time but long-term investors shouldn't touch the stock with a ten-foot pole.Price Target Changed • Apr 27Price target decreased to US$6.00Down from US$11.00, the current price target is provided by 1 analyst. New target price is 123% above last closing price of US$2.69. Stock is down 44% over the past year. The company posted a net loss per share of US$2.01 last year.Board Change • Apr 27High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Board Change • Apr 01High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Mar 16Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: US$1.93 loss per share (down from US$0.76 profit in FY 2020). Revenue: US$36.5m (down 13% from FY 2020). Net loss: US$9.71m (down 362% from profit in FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 3.0%. Over the next year, revenue is expected to shrink by 20% compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings.Board Change • Mar 09High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Seeking Alpha • Jan 27Assessing Performance Shipping's Extended Tender OfferPerformance Shipping launched and recently updated a tender offer to convert 80% of the common ultimately to preferred C shares. The offer shifts value from the common share to the preferred shares. Shareholders should consider the terms when deciding whether or not to tender.Seeking Alpha • Jan 07Performance Shipping - Assessing Recent Common Share Exchange OfferCompany offers to exchange 80% of outstanding common shares into newly issued Series B Preferred Shares. Exchange value amounts to $7 per common share. Annual dividend yield would calculate to approximately 8% at prevailing common share prices. Each Series B Preferred Share will be convertible into two supervoting Series C Preferred Shares for additional cash consideration of $7.50 per converted Series B Share. The company's largest shareholder has indicated its intent to ultimately convert its 46.3% stake into supervoting Series C Preferred shares thus resulting in approximately $5 million in cash proceeds to the company. Highly speculative investors might consider the common shares given heavily discounted valuation and prospects for a recovery of the crude tanker markets later this year.Reported Earnings • Nov 12Third quarter 2021 earnings released: US$0.43 loss per share (vs US$0.079 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$9.33m (down 2.2% from 3Q 2020). Net loss: US$2.16m (down US$2.55m from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.Reported Earnings • Sep 11Second quarter 2021 earnings released: US$0.53 loss per share (vs US$0.94 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$9.12m (down 43% from 2Q 2020). Net loss: US$2.65m (down 157% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.Reported Earnings • Jul 31Second quarter 2021 earnings released: US$0.53 loss per share (vs US$0.94 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$9.12m (down 43% from 2Q 2020). Net loss: US$2.65m (down 157% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings.Reported Earnings • May 23First quarter 2021 earnings released: US$0.57 loss per share (vs US$0.59 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$8.40m (down 38% from 1Q 2020). Net loss: US$2.85m (down 202% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • May 22Investor sentiment improved over the past weekAfter last week's 16% share price gain to US$4.93, the stock trades at a trailing P/E ratio of 6.5x. Average forward P/E is 7x in the Shipping industry in the US. Total loss to shareholders of 69% over the past three years.분석 기사 • May 06Performance Shipping (NASDAQ:PSHG) Shareholders Will Want The ROCE Trajectory To ContinueIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Valuation Update With 7 Day Price Move • Apr 17Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$4.80, the stock trades at a trailing P/E ratio of 6.3x. Average forward P/E is 6x in the Shipping industry in the US. Total loss to shareholders of 67% over the past three years.Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 15% share price gain to US$5.66, the stock trades at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.5x. Average P/E is 16x in the Shipping industry in the US. Total return to shareholders over the past three years was a loss of 71%.분석 기사 • Mar 12We Think That There Are Issues Underlying Performance Shipping's (NASDAQ:PSHG) EarningsDespite posting some strong earnings, the market for Performance Shipping Inc.'s ( NASDAQ:PSHG ) stock hasn't moved...Is New 90 Day High Low • Feb 06New 90-day high: US$5.85The company is up 32% from its price of US$4.44 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 48% over the same period.분석 기사 • Feb 02Is Performance Shipping (NASDAQ:PSHG) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • Dec 11Can Performance Shipping (NASDAQ:PSHG) Continue To Grow Its Returns On Capital?What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...Reported Earnings • Nov 20Third quarter 2020 earnings released: EPS US$0.079The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$9.54m (up 53% from 3Q 2019). Net income: US$389.0k (up US$18.5m from 3Q 2019). Profit margin: 4.1% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Oct 16New 90-day low: US$0.54The company is down 13% from its price of US$0.62 on 17 July 2020. The American market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 11% over the same period.지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: 과거에 PSHG 의 주당 배당금이 안정적이었는지 판단하기에는 데이터가 부족합니다.배당금 증가: PSHG 의 배당금 지급이 증가했는지 판단하기에는 데이터가 부족합니다.배당 수익률 vs 시장Performance Shipping 배당 수익률 vs 시장PSHG의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (PSHG)0%시장 하위 25% (US)1.4%시장 상위 25% (US)4.2%업계 평균 (Shipping)2.7%분석가 예측 (PSHG) (최대 3년)n/a주목할만한 배당금: 회사가 최근 지급을 보고하지 않았기 때문에 하위 25%의 배당금 지급자에 대해 PSHG 의 배당 수익률을 평가할 수 없습니다.고배당: 회사가 최근 지급을 보고하지 않았기 때문에 배당금 지급자의 상위 25%에 대해 PSHG 의 배당 수익률을 평가할 수 없습니다.주주 대상 이익 배당수익 보장: PSHG US 시장에서 주목할만한 배당금을 지급하지 않습니다.주주 현금 배당현금 흐름 범위: PSHG 에서 지급을 보고하지 않았기 때문에 배당 지속 가능성을 계산할 수 없습니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YUS 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/29 12:21종가2026/05/29 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Performance Shipping Inc.는 8명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Charles FrattAlliance Global PartnersBrandon OglenskiBarclaysKenneth HoexterBofA Global Research5명의 분석가 더 보기
공시 • Aug 22Performance Shipping Inc. (NasdaqCM:PSHG) announces an Equity Buyback for $2 million worth of its shares.Performance Shipping Inc. (NasdaqCM:PSHG) announces a share repurchase program. Under the program, the company will repurchase up to $2 million worth of its common stock. The repurchase program will expire on August 31, 2024. As of August 18, 2023, the company had 10,910,319 outstanding common shares.
New Risk • May 27New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Profit margins are more than 30% lower than last year (30% net profit margin). Market cap is less than US$100m (US$20.5m market cap).
분석 기사 • May 06There Are Some Holes In Performance Shipping's (NASDAQ:PSHG) Solid Earnings ReleaseShareholders didn't seem to be thrilled with Performance Shipping Inc.'s ( NASDAQ:PSHG ) recent earnings report...
New Risk • May 05New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 75% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (75% accrual ratio). Minor Risks High level of debt (54% net debt to equity). Market cap is less than US$100m (US$22.6m market cap).
New Risk • Mar 06New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 54% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Large one-off items impacting financial results. Market cap is less than US$100m (US$27.0m market cap).
분석 기사 • Feb 06Here's What To Make Of Performance Shipping's (NASDAQ:PSHG) Decelerating Rates Of ReturnFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
분석 기사 • Dec 05Investors Still Aren't Entirely Convinced By Performance Shipping Inc.'s (NASDAQ:PSHG) Revenues Despite 26% Price JumpPerformance Shipping Inc. ( NASDAQ:PSHG ) shares have continued their recent momentum with a 26% gain in the last month...
분석 기사 • Dec 02Here's Why Performance Shipping (NASDAQ:PSHG) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Reported Earnings • Nov 26Third quarter 2025 earnings released: EPS: US$0.28 (vs US$0.96 in 3Q 2024)Third quarter 2025 results: EPS: US$0.28 (down from US$0.96 in 3Q 2024). Revenue: US$18.5m (down 19% from 3Q 2024). Net income: US$3.45m (down 71% from 3Q 2024). Profit margin: 19% (down from 52% in 3Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings.
공시 • Nov 05Performance Shipping Inc., Annual General Meeting, Dec 03, 2025Performance Shipping Inc., Annual General Meeting, Dec 03, 2025, at 12:00 GTB Standard Time. Location: 373 syngrou avenue, 175 64 palaio faliro, athens, greece, Greece
New Risk • Aug 05New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (US$20.5m market cap).
Reported Earnings • Aug 01Second quarter 2025 earnings released: EPS: US$0.69 (vs US$0.79 in 2Q 2024)Second quarter 2025 results: EPS: US$0.69 (down from US$0.79 in 2Q 2024). Revenue: US$18.1m (down 12% from 2Q 2024). Net income: US$8.62m (down 11% from 2Q 2024). Profit margin: 48% (in line with 2Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings.
New Risk • May 29New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 48% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$20.8m market cap).
Reported Earnings • Apr 19Full year 2024 earnings released: EPS: US$3.39 (vs US$5.43 in FY 2023)Full year 2024 results: EPS: US$3.39 (down from US$5.43 in FY 2023). Revenue: US$87.4m (down 20% from FY 2023). Net income: US$41.9m (down 26% from FY 2023). Profit margin: 48% (down from 52% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Shipping industry in the US.
Board Change • Mar 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Non-Executive Director Alex Papageorgiou was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Feb 21Full year 2024 earnings released: EPS: US$3.39 (vs US$5.43 in FY 2023)Full year 2024 results: EPS: US$3.39 (down from US$5.43 in FY 2023). Revenue: US$87.4m (down 20% from FY 2023). Net income: US$41.9m (down 26% from FY 2023). Profit margin: 48% (down from 52% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.1% decline forecast for the Shipping industry in the US.
공시 • Nov 20Performance Shipping Inc., Annual General Meeting, Dec 17, 2024Performance Shipping Inc., Annual General Meeting, Dec 17, 2024, at 17:00 GTB Standard Time. Location: at watson farley & williams, 348 syngrou avenue, kallithea 176-74, athens, Greece
Reported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$0.96 (up from US$0.88 in 3Q 2023). Revenue: US$22.9m (down 5.1% from 3Q 2023). Net income: US$12.0m (up 21% from 3Q 2023). Profit margin: 52% (up from 41% in 3Q 2023). Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Reported Earnings • Jul 28Second quarter 2024 earnings: EPS and revenues miss analyst expectationsSecond quarter 2024 results: EPS: US$0.79 (down from US$1.53 in 2Q 2023). Revenue: US$20.5m (down 35% from 2Q 2023). Net income: US$9.73m (down 46% from 2Q 2023). Profit margin: 47% (down from 57% in 2Q 2023). Revenue missed analyst estimates by 9.4%. Earnings per share (EPS) also missed analyst estimates by 3.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Shipping industry in the US.
New Risk • Jul 26New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.0% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Market cap is less than US$100m (US$27.0m market cap).
Reported Earnings • Jun 04First quarter 2024 earnings released: EPS: US$0.89 (vs US$0.68 in 1Q 2023)First quarter 2024 results: EPS: US$0.89 (up from US$0.68 in 1Q 2023). Revenue: US$22.4m (down 24% from 1Q 2023). Net income: US$11.0m (up 137% from 1Q 2023). Profit margin: 49% (up from 16% in 1Q 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Reported Earnings • Mar 10Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: US$5.43. Revenue: US$108.9m (up 45% from FY 2022). Net income: US$56.9m (up 374% from FY 2022). Profit margin: 52% (up from 16% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
공시 • Oct 26Sphinx Investment Corp. made a tender offer to acquire Performance Shipping Inc. (NasdaqCM:PSHG) for $34.3 million.Sphinx Investment Corp. made a tender offer to acquire Performance Shipping Inc. (NasdaqCM:PSHG) for $34.3 million on October 11, 2023. The offer price is $3 cash per share. The Board of Performance Shipping appointed a Special Committee of independent directors of the Board to approve the offer. The offer period will expire on November 8, 2023, until further extended. Robert B. Greco of Richards, Layton & Finger, P.A. and Will Vogel of Watson, Farley & Williams acted as legal counsel and Newbridge Securities Corporation acted as independent financial advisor to Richards, Layton & Finger, P.A.
New Risk • Oct 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (62% accrual ratio). Shareholders have been substantially diluted in the past year (190% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$25.2m market cap).
분석 기사 • Oct 04Performance Shipping (NASDAQ:PSHG) Is Investing Its Capital With Increasing EfficiencyIf you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...
공시 • Aug 22Performance Shipping Inc. (NasdaqCM:PSHG) announces an Equity Buyback for $2 million worth of its shares.Performance Shipping Inc. (NasdaqCM:PSHG) announces a share repurchase program. Under the program, the company will repurchase up to $2 million worth of its common stock. The repurchase program will expire on August 31, 2024. As of August 18, 2023, the company had 10,910,319 outstanding common shares.
공시 • Aug 17Performance Shipping Inc. Regains Compliance with Nasdaq Minimum Bid Price RequirementPerformance Shipping Inc. announced that the Nasdaq Stock Market (“Nasdaq”) has confirmed that the Company has regained compliance with Nasdaq's minimum bid price requirements for continued listing on the Nasdaq Capital Market. Nasdaq’s letter noted that, as a result of the closing bid price of the Company's common shares having been at $1.00 per share or greater for at least ten consecutive business days, from August 1, 2023 through August 14, 2023, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2), and the matter is now closed. Commenting on this development, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “We are very pleased to have regained compliance with Nasdaq’s listing requirements as a result of an organic increase in the market price of our shares, without the need to effect a reverse stock split”.
New Risk • Aug 10New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 62% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (62% accrual ratio). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$13.7m market cap).
Reported Earnings • Jul 28Second quarter 2023 earnings released: EPS: US$1.53 (vs US$10.51 in 2Q 2022)Second quarter 2023 results: EPS: US$1.53. Revenue: US$31.5m (up 88% from 2Q 2022). Net income: US$17.9m (up 388% from 2Q 2022). Profit margin: 57% (up from 22% in 2Q 2022).
분석 기사 • Jul 04There's Been No Shortage Of Growth Recently For Performance Shipping's (NASDAQ:PSHG) Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Reported Earnings • Jun 25First quarter 2023 earnings released: EPS: US$0.68 (vs US$51.46 loss in 1Q 2022)First quarter 2023 results: EPS: US$0.68 (up from US$51.46 loss in 1Q 2022). Revenue: US$29.5m (up 245% from 1Q 2022). Net income: US$4.62m (up US$16.1m from 1Q 2022). Profit margin: 16% (up from net loss in 1Q 2022).
분석 기사 • Mar 04Performance Shipping (NASDAQ:PSHG) Is Experiencing Growth In Returns On CapitalFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Reported Earnings • Mar 01Full year 2022 earnings released: EPS: US$8.97 (vs US$30.16 loss in FY 2021)Full year 2022 results: EPS: US$8.97 (up from US$30.16 loss in FY 2021). Revenue: US$75.2m (up 106% from FY 2021). Net income: US$36.3m (up US$46.4m from FY 2021). Profit margin: 48% (up from net loss in FY 2021).
Valuation Update With 7 Day Price Move • Feb 14Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$2.58, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 98% over the past three years.
Valuation Update With 7 Day Price Move • Jan 24Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to US$2.67, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 98% over the past three years.
공시 • Jan 14Performance Shipping Inc., Annual General Meeting, Feb 22, 2023Performance Shipping Inc., Annual General Meeting, Feb 22, 2023. Agenda: 2023 annual general meeting of shareholders.
Valuation Update With 7 Day Price Move • Jan 03Investor sentiment improved over the past weekAfter last week's 16% share price gain to US$3.54, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 97% over the past three years.
Valuation Update With 7 Day Price Move • Dec 12Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to US$3.48, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 97% over the past three years.
Reported Earnings • Nov 19Third quarter 2022 earnings released: EPS: US$7.40 (vs US$6.43 loss in 3Q 2021)Third quarter 2022 results: EPS: US$7.40 (up from US$6.43 loss in 3Q 2021). Revenue: US$22.1m (up 137% from 3Q 2021). Net income: US$20.3m (up US$22.4m from 3Q 2021). Profit margin: 92% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue.
Board Change • Nov 16High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Seeking Alpha • Sep 30Performance Shipping to acquire Aframax tanker vessel for $35MPerformance Shipping (NASDAQ:PSHG) said Friday it will acquire the M/T Phoenix Beacon, a 105,525 dwt Aframax tanker vessel built by Hyundai Heavy Industries, from an unaffiliated third party for $35M. The vessel is fitted with a ballast water treatment system and its next scheduled special survey is not due till 2026. The M/T Phoenix Beacon is expected to be delivered to PSHG by early Dec. and will be renamed M/T P. Monterey. PSHG expects to fund the acquisition with cash on hand and debt through a new senior secured facility that it expects to enter into prior to the vessel's delivery. The latest acquisition expands PSHG's Aframax fleet from five to eight vessels in six months. "We intend to fund this acquisition with bank debt of ~$30M and the rest from available cash, still maintaining a modest overall level of financial leverage fleetwide. With the delivery of the two newly acquired Aframax tankers during Q4, our fleet will be well positioned to potentially generate significant cash flow moving forward," said PSHG CEO Andreas Michalopoulos.
Seeking Alpha • Sep 22Performance Shipping announces time charter contract for LR2 Aframax oil product tankerPerformance Shipping (NASDAQ:PSHG) said Thursday it entered into a time charter contract with Trafigura Maritime Logistics for the LR2 Aframax oil product tanker the M/T Alpine Amalia, to be renamed P. Aliki. The gross charter rate will be $45K per day for a minimum of seven months to a maximum of ten months at the option of Trafigura and will start after the vessel's delivery to PSHG expected in Nov. The charter is expected to generate ~$9.5M-$13.7M in gross revenue, depending on the duration of the charter.
Seeking Alpha • Aug 22Performance Shipping terminates ATM offering agreement with H.C. WainwrightShipping company Performance Shipping (NASDAQ:PSHG) has terminated an at-the-market offering agreement with H.C. Wainwright & Co., effective Aug. 23. PSHG said it does not intend to raise additional capital or sell additional shares under the ATM agreement. The company issued and sold 526,916 shares prior to the termination of the offering, raising net proceeds of ~$1.3M. Shares were trading +11.79% pre-market. Source: Press Release
Seeking Alpha • Aug 12Performance Shipping plummets on pricing $15M in stock offeringPerformance Shipping (NASDAQ:PSHG) entered into a securities purchase agreement with several institutional investors to purchase ~33.3M of its shares and warrants at a purchase price of $0.45 per share and accompanying warrant in a registered direct offering. The warrants will be immediately exercisable, will expire five years from issuance date and will have an initial exercise price of $0.45/share. Gross proceeds estimated to be ~$15M. The Offering is expected to close on or about Aug16, 2022.
분석 기사 • Aug 12Health Check: How Prudently Does Performance Shipping (NASDAQ:PSHG) Use Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Reported Earnings • Aug 06Second quarter 2022 earnings released: EPS: US$4.37 (vs US$0.53 loss in 2Q 2021)Second quarter 2022 results: EPS: US$4.37 (up from US$0.53 loss in 2Q 2021). Revenue: US$16.7m (up 83% from 2Q 2021). Net income: US$22.9m (up US$25.5m from 2Q 2021).
Seeking Alpha • Aug 04Performance Shipping GAAP EPS of $0.10, revenue of $16.71MPerformance Shipping press release (NASDAQ:PSHG): Q2 GAAP EPS of $0.10. Revenue of $16.71M (+83.2% Y/Y). Shares -3% PM.
Seeking Alpha • Jul 28Performance Shipping charters M/T Blue Moon tanker vessel for $23K/dayPerformance Shipping (NASDAQ:PSHG) has entered into a time charter deal with Teekay Chartering for M/T Blue Moon, one of its Aframax tanker vessels. The 2011-built, 104,623 DWT vessel was chartered at $23K/day for 24 months +/-30 days at the option of the charterer. The contract commenced on July 27, 2022 and is expected to generate ~$16.8M in gross revenue. Shares have opened today's trading with a gain, currently up 13%
Seeking Alpha • Jul 18Performance receives Nasdaq notification regarding minimum bid price requirementPerformance Shipping (NASDAQ:PSHG) received Nasdaq notification dated July 13, 2022, regarding minimum bid price requirement. The company has grace period of 180 days or until January 9, 2023 to regain compliance. If the company fails to regain compliance with the minimum bid price requirement within the grace period, the company may be eligible for an additional 180 day grace period to regain compliance. The company will monitor the closing bid price of its common stock during this grace period and will consider its options to cure the deficiency. Shares +4.15% premarket
Reported Earnings • Jul 05First quarter 2022 earnings released: US$3.43 loss per share (vs US$0.57 loss in 1Q 2021)First quarter 2022 results: US$3.43 loss per share (down from US$0.57 loss in 1Q 2021). Revenue: US$8.57m (up 2.0% from 1Q 2021). Net loss: US$11.5m (loss widened 302% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings.
Seeking Alpha • Jul 05Performance Shipping takes delivery of Aframax Tanker VesselPerformance Shipping (NASDAQ:PSHG), through a separate wholly-owned subsidiary, it has taken delivery of the M/T P. Sophia, a 2009-built Aframax tanker of 105,071 dwt, that the company entered into an agreement to purchase in June 2022. This increases the fleet size to a total of six Aframax Tankers, all currently operating in the firm spot charter market.
Seeking Alpha • Jun 29Performance Shipping GAAP EPS of -$3.43, revenue of $8.57MPerformance Shipping press release (NASDAQ:PSHG): Q1 GAAP EPS of -$3.43. Revenue of $8.57M (+2.0% Y/Y).
Seeking Alpha • May 30Performance Shipping: Equity Offering Dilutes Common Shareholders At A 95% Discount To Net Asset Value - SellDiscussing onerous terms of last week's equity offering and updating net asset value estimates. Providing additional details on the company's recent exchange offer. Friday's sell-off will likely result in the requirement to conduct another reverse stock split next year. Expect the company to announce a new second-hand vessel acquisition soon. Going forward, Performance Shipping's common shares might still provide some decent trading opportunities from time to time but long-term investors shouldn't touch the stock with a ten-foot pole.
Price Target Changed • Apr 27Price target decreased to US$6.00Down from US$11.00, the current price target is provided by 1 analyst. New target price is 123% above last closing price of US$2.69. Stock is down 44% over the past year. The company posted a net loss per share of US$2.01 last year.
Board Change • Apr 27High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Board Change • Apr 01High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Mar 16Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: US$1.93 loss per share (down from US$0.76 profit in FY 2020). Revenue: US$36.5m (down 13% from FY 2020). Net loss: US$9.71m (down 362% from profit in FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 3.0%. Over the next year, revenue is expected to shrink by 20% compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings.
Board Change • Mar 09High number of new and inexperienced directorsThere are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Chairperson Aliki Paliou is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Seeking Alpha • Jan 27Assessing Performance Shipping's Extended Tender OfferPerformance Shipping launched and recently updated a tender offer to convert 80% of the common ultimately to preferred C shares. The offer shifts value from the common share to the preferred shares. Shareholders should consider the terms when deciding whether or not to tender.
Seeking Alpha • Jan 07Performance Shipping - Assessing Recent Common Share Exchange OfferCompany offers to exchange 80% of outstanding common shares into newly issued Series B Preferred Shares. Exchange value amounts to $7 per common share. Annual dividend yield would calculate to approximately 8% at prevailing common share prices. Each Series B Preferred Share will be convertible into two supervoting Series C Preferred Shares for additional cash consideration of $7.50 per converted Series B Share. The company's largest shareholder has indicated its intent to ultimately convert its 46.3% stake into supervoting Series C Preferred shares thus resulting in approximately $5 million in cash proceeds to the company. Highly speculative investors might consider the common shares given heavily discounted valuation and prospects for a recovery of the crude tanker markets later this year.
Reported Earnings • Nov 12Third quarter 2021 earnings released: US$0.43 loss per share (vs US$0.079 profit in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$9.33m (down 2.2% from 3Q 2020). Net loss: US$2.16m (down US$2.55m from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.
Reported Earnings • Sep 11Second quarter 2021 earnings released: US$0.53 loss per share (vs US$0.94 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$9.12m (down 43% from 2Q 2020). Net loss: US$2.65m (down 157% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 139% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.
Reported Earnings • Jul 31Second quarter 2021 earnings released: US$0.53 loss per share (vs US$0.94 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$9.12m (down 43% from 2Q 2020). Net loss: US$2.65m (down 157% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings.
Reported Earnings • May 23First quarter 2021 earnings released: US$0.57 loss per share (vs US$0.59 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$8.40m (down 38% from 1Q 2020). Net loss: US$2.85m (down 202% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • May 22Investor sentiment improved over the past weekAfter last week's 16% share price gain to US$4.93, the stock trades at a trailing P/E ratio of 6.5x. Average forward P/E is 7x in the Shipping industry in the US. Total loss to shareholders of 69% over the past three years.
분석 기사 • May 06Performance Shipping (NASDAQ:PSHG) Shareholders Will Want The ROCE Trajectory To ContinueIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Valuation Update With 7 Day Price Move • Apr 17Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to US$4.80, the stock trades at a trailing P/E ratio of 6.3x. Average forward P/E is 6x in the Shipping industry in the US. Total loss to shareholders of 67% over the past three years.
Valuation Update With 7 Day Price Move • Mar 16Investor sentiment improved over the past weekAfter last week's 15% share price gain to US$5.66, the stock trades at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.5x. Average P/E is 16x in the Shipping industry in the US. Total return to shareholders over the past three years was a loss of 71%.
분석 기사 • Mar 12We Think That There Are Issues Underlying Performance Shipping's (NASDAQ:PSHG) EarningsDespite posting some strong earnings, the market for Performance Shipping Inc.'s ( NASDAQ:PSHG ) stock hasn't moved...
Is New 90 Day High Low • Feb 06New 90-day high: US$5.85The company is up 32% from its price of US$4.44 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 48% over the same period.
분석 기사 • Feb 02Is Performance Shipping (NASDAQ:PSHG) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • Dec 11Can Performance Shipping (NASDAQ:PSHG) Continue To Grow Its Returns On Capital?What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...
Reported Earnings • Nov 20Third quarter 2020 earnings released: EPS US$0.079The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$9.54m (up 53% from 3Q 2019). Net income: US$389.0k (up US$18.5m from 3Q 2019). Profit margin: 4.1% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Oct 16New 90-day low: US$0.54The company is down 13% from its price of US$0.62 on 17 July 2020. The American market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 11% over the same period.