10-K · April 30, 2026
Genco Shipping & Trading Limited's 2025 10-K filing reflects a strong performance with a notable recovery in revenue and operating margins, especially in Q4, where revenue spiked to approximately $110 million, exceeding…
Earnings analysis · 10-Q
GNK earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Genco Shipping & Trading Limited reported a strong Q1 2026, with revenues of $72 million and diluted EPS of $0.26, both exceeding expectations. The company's voyage revenues surged by 60.6% year-over-year, driven by…
Read full summary
Genco Shipping & Trading Limited reported a strong Q1 2026, with revenues of $72 million and diluted EPS of $0.26, both exceeding expectations. The company's voyage revenues surged by 60.6% year-over-year, driven by higher charter rates and a growing fleet. Additionally, the board announced a substantial dividend increase of 133% compared to the previous year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.26
- Segment
- Major Bulk
- Segment
- Minor Bulk
What stood out
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Significant Revenue Growth
Q1 2026 revenue rose to $72 million from $71 million in Q4 2025, marking a 60.6% increase from $44.5 million in Q1 2025.
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Strong EPS Performance
EPS increased to $0.26, up from a loss of $0.28 in Q1 2025.
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Fleet Expansion Benefits
Total ownership days increased to 3,903 in Q1 2026 from 3,780 in Q1 2025 due to fleet enhancements.
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Higher Daily TCE Rates
TCE rates for major bulk vessels increased by 101.9% from $13,059 to $26,360 year-over-year.
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Increased Dividend
Announced dividend of $0.35 per share, a 133% increase compared to the previous year.
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Sufficient Liquidity
Total liquidity stands at $404.8 million, including $54.8 million in cash and $350 million in undrawn revolver availability.
What to watch
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Geopolitical Tensions
Military actions in the Middle East, notably involving Iran, have threatened global shipping routes and increased fuel costs.
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Dependence on Shipping Rates
Fluctuations in drybulk shipping rates remain a concern that could adversely affect revenues and profitability.
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Regulatory Challenges
Compliance with evolving environmental regulations may result in increased operational costs.
Management's outlook
Management indicates readiness to maintain dividends, expects challenges from geopolitical influences and changing global trade dynamics.
Earlier filings 4
10-K · February 18, 2026
Genco’s 2025 10-K emphasizes a capital-allocation strategy of steady dividends, low leverage and selective fleet renewal. Management highlights a stronger liquidity position (cash $55.5M + $400M undrawn revolver =…
10-Q · May 7, 2025
Genco reported a sharp revenue decline to $71,269,000 in Q1 2025 from $117,435,000 in Q1 2024, producing an operating loss of $9,770,000 and a net loss attributable to shareholders of $11,923,000 (diluted EPS $(0.28)).…
10-K · February 21, 2025
Genco (GNK) is a drybulk shipowner operating a 42-vessel, 4,446,000 dwt fleet (16 Capesize, 15 Ultramax, 11 Supramax; average age ~12.2 years) and emphasizes an active, short-term-weighted commercial strategy and a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.