Quarterly ResultMay 28, 2026, 09:02 AM
Seanergy Q1 Net Income $9.7M, Adj. EPS $0.63; Declares $0.20 Dividend
AI Summary
Seanergy Maritime Holdings Corp. reported strong Q1 2026 financial results, with net income of $9.7 million and adjusted EPS of $0.63, a significant improvement from a net loss in Q1 2025. The company also declared its 18th consecutive quarterly cash dividend of $0.20 per share. Seanergy is advancing its $460 million fleet renewal program, contracting three additional eco-design newbuilding vessels and agreeing to sell an older Capesize vessel for $29.5 million, generating $13.4 million in net liquidity. The company secured approximately $237 million in new debt financings for the newbuilding program and refinanced existing debt at attractive terms.
Key Highlights
- Declared 18th consecutive quarterly cash dividend of $0.20 per share.
- Q1 2026 Net Revenues increased 77% YoY to $42.9 million.
- Q1 2026 Net Income was $9.7 million, compared to a $6.8 million loss in Q1 2025.
- Q1 2026 Adjusted EPS was $0.63, up from a $0.27 adjusted loss per share YoY.
- Q1 2026 Adjusted EBITDA rose 251% YoY to $28.1 million.
- Expanded fleet renewal program to $460 million for six modern eco-design Capesizes/Newcastlemax vessels.
- Agreed to sell a 2010-built Capesize vessel for $29.5 million, generating $13.4 million net liquidity.
- Secured approximately $237 million in new debt financings for the newbuilding program.
Price Impact
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