Quarterly ResultMay 28, 2026, 09:22 AM
Toro Corp. Q1 Net Income $0.5M, Revenue $6.0M; Declares $0.90 Special Dividend
AI Summary
Toro Corp. reported net income of $0.5 million for the three months ended March 31, 2026, representing a 68.8% decrease compared to $1.6 million in the same period of 2025. Total vessel revenues from continuing operations increased by 9.1% to $6.0 million. The company also declared a 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
- Net income for Q1 2026 was $0.5 million, a 68.8% decrease from $1.6 million in Q1 2025.
- Total vessel revenues from continuing operations increased 9.1% to $6.0 million in Q1 2026 from $5.5 million in Q1 2025.
- (Loss)/Earnings per common share, basic, from continuing operations was $(0.023) in Q1 2026, down from $0.019 in Q1 2025.
- EBITDA from continuing operations increased to $1.3 million in Q1 2026 from $1.0 million in Q1 2025.
- Cash decreased to $81.6 million as of March 31, 2026, from $87.4 million as of December 31, 2025.
- Declared a special dividend of $0.90 per common share on April 22, 2026, payable June 5, 2026.
- Entered into an up to $60.0 million revolving credit facility on March 30, 2026.
- Paid a special dividend of $1.75 per common share on January 16, 2026, totaling $9.3 million cash and 7,378,575 shares.
Price Impact
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