Seanergy Maritime Holdings Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St

November 06, 2024

Seanergy Maritime Holdings (NASDAQ:SHIP) Third Quarter 2024 Results

Key Financial Results

Revenue: US$44.4m (up 81% from 3Q 2023).
Net income: US$12.5m (up from US$5.08m loss in 3Q 2023).
Profit margin: 28% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
EPS: US$0.64 (up from US$0.28 loss in 3Q 2023).

earnings-and-revenue-growth — NasdaqCM:SHIP Earnings and Revenue Growth November 6th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Seanergy Maritime Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%.

Looking ahead, revenue is forecast to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are up 1.0% from a week ago.

Valuation

Seanergy Maritime Holdings' financial results now indicate the company's shares could present an opportunity based on 6 important indicators. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

New: Manage All Your Stock Portfolios in One Place

We've created the ultimate portfolio companion for stock investors, and it's free.

• Connect an unlimited number of Portfolios and see your total in one currency
• Be alerted to new Warning Signs or Risks via email or mobile
• Track the Fair Value of your stocks

Try a Demo Portfolio for Free

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.