Genco Shipping & Trading Full Year 2024 Earnings: In Line With Expectations

Genco Shipping & Trading (NYSE:GNK) Full Year 2024 Results

Key Financial Results

• Revenue: US$423.0m (up 10% from FY 2023).
• Net income: US$76.4m (up from US$12.9m loss in FY 2023).
• Profit margin: 18% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$1.78 (up from US$0.30 loss in FY 2023).

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

Genco Shipping & Trading Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is expected to fall by 25% p.a. on average during the next 2 years compared to a 2.1% decline forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Genco Shipping & Trading has 2 warning signs (and 1 which is a bit concerning) we think you should know about.

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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.