Quarterly ResultMay 28, 2026, 09:02 AM
Toro Corp. Declares $0.90 Special Dividend; Q1 Revenue Up 9.1% to $6.0M
AI Summary
Toro Corp. announced its first quarter 2026 results, reporting a 9.1% increase in total vessel revenues from continuing operations to $6.0 million. However, net income from continuing operations significantly decreased by 66.7% to $0.5 million, resulting in a basic loss per common share of $(0.023). The company also declared a new special dividend of $0.90 per common share, payable on June 5, 2026, and secured an up to $60.0 million revolving credit facility.
Key Highlights
- Toro Corp. declared a special dividend of $0.90 per common share, payable June 5, 2026.
- Entered into a new $60.0 million revolving credit facility on March 30, 2026.
- Q1 2026 total vessel revenues from continuing operations increased 9.1% to $6.0 million.
- Q1 2026 net income from continuing operations decreased 66.7% to $0.5 million.
- Q1 2026 basic EPS from continuing operations was $(0.023) vs $0.019 in Q1 2025.
- EBITDA from continuing operations increased to $1.3 million from $1.0 million YoY.
- Cash position decreased to $81.6 million as of March 31, 2026, from $87.4 million.
- Daily TCE Rate increased to $15,531 in Q1 2026 from $11,480 in Q1 2025.
Price Impact
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