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GNK

Genco Shipping & Trading Limited

GNK

Genco Shipping & Trading Limited • NYSE
$18.92 ▲ 0.42% (+0.08)
Market Cap $818.16 M
52w High $19.60
52w Low $11.20
Dividend Yield 0.75%
P/E -111.29
Volume 477.05K
Outstanding Shares 43.24M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $79.921M ▼ $28.147M ▲ $-1.053M ▲ -1.318% ▲ $-0.02 ▲ $21.371M ▲
Q2-2025 $80.939M ▲ $9.281M ▲ $-6.801M ▲ -8.403% ▲ $-0.16 ▲ $14.217M ▲
Q1-2025 $71.269M ▼ $8.819M ▼ $-11.923M ▼ -16.73% ▼ $-0.28 ▼ $8.586M ▼
Q4-2024 $99.202M ▼ $9.893M ▲ $12.677M ▼ 12.779% ▼ $0.29 ▼ $33.374M ▼
Q3-2024 $99.332M $4.332M $21.459M 21.603% $0.5 $41.537M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $89.951M ▲ $1.108B ▲ $220.298M ▲ $885.89M ▼
Q2-2025 $35.439M ▲ $1.04B ▲ $147.208M ▲ $891.604M ▼
Q1-2025 $30.243M ▼ $1.039B ▼ $133.879M ▲ $903.205M ▼
Q4-2024 $43.69M ▼ $1.057B ▲ $128.374M ▲ $926.743M ▼
Q3-2024 $46.665M $1.044B $112.879M $929.943M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.078M ▲ $7.69M ▲ $-11.095M ▼ $57.602M ▲ $54.197M ▲ $-3.405M ▼
Q2-2025 $-6.809M ▲ $5.401M ▲ $-3.745M ▼ $3.54M ▲ $5.196M ▲ $7.172M ▲
Q1-2025 $-11.923M ▼ $2.902M ▼ $-2.916M ▲ $-13.433M ▼ $-13.447M ▼ $-594.999K ▲
Q4-2024 $12.677M ▼ $29.994M ▼ $-25.868M ▼ $-7.101M ▲ $-2.66M ▼ $-20.448M ▼
Q3-2024 $21.574M $35.572M $8.598M $-39.538M $4.632M $32.121M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cargo and Freight
Cargo and Freight
 $320.00M ▲$70.00M ▼$80.00M ▲$80.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the past five years, with a strong upswing during the recent shipping boom and then a cooling off afterward. Even with that cooling, the latest year shows higher sales than most of the earlier years, suggesting the business is still benefiting from a relatively firm market. Profitability has improved meaningfully from the pandemic downturn. After a small loss in the prior year, Genco returned to solid profit in the most recent period, with healthier margins than it had in the weak years. Earnings per share have swung widely over time, which reflects the strong cyclicality of dry bulk shipping rather than a smooth growth story. Overall, the income statement paints a picture of a cyclical company that has learned to convert decent market conditions into solid profits, but whose results can still change quickly with freight rates and global trade activity.

Balance Sheet

Balance Sheet The balance sheet looks conservative and focused on resilience. Total assets have drifted slightly lower in recent years, which likely reflects selective vessel sales and disciplined investment rather than aggressive expansion. Debt has come down sharply from earlier years and now sits at a much more modest level. Equity has stayed strong and high relative to debt, which points to low financial leverage. Cash balances are lower than during the pandemic, but that coincides with reduced debt and ongoing investment in the fleet. In short, Genco appears to have prioritized a “fortress” balance sheet, giving it more room to manage through downturns and to act opportunistically when vessel prices or market conditions are attractive.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive over the last five years, even in weaker market conditions. The company has been able to turn its earnings into cash rather than just accounting profits, which is a healthy sign. After funding investments in its fleet, free cash flow has generally remained positive, though it dipped to roughly break-even in one of the more challenging years. Capital spending has been meaningful, in line with a strategy of modernizing and upgrading vessels, but not so aggressive that it drains the company’s finances. Overall, the cash flow profile suggests a business that can self-fund most of its renewal and improvement plans while still maintaining financial flexibility, assuming freight markets do not deteriorate sharply for an extended period.

Competitive Edge

Competitive Edge Genco has carved out a differentiated position as the largest U.S.-based dry bulk shipowner with a deliberately balanced fleet structure. Its “barbell” strategy—combining large, higher-earning vessels with a broad base of smaller, more stable ships—helps smooth out some of the natural volatility in dry bulk shipping. The company’s in-house commercial platform is another key strength. By handling chartering and operations internally, Genco keeps closer ties to customers, responds faster to market moves, and avoids relying on third-party managers. This can translate into better utilization, stronger relationships, and higher service quality. A relatively low-debt balance sheet and strong ESG standing further support its competitive position. In an industry where many players are highly levered and face tightening environmental rules, Genco’s financial discipline and sustainability credentials can make it a preferred partner for cargo owners and lenders, though it still operates in a highly competitive, commodity-like market.

Innovation and R&D

Innovation and R&D Genco’s main innovation focus is not on traditional lab-style R&D, but on technology that makes its fleet more efficient, compliant, and cost-effective. It has steadily renewed its ships, adding modern vessels and phasing out older ones, which reduces fuel use and improves reliability. The company has invested in energy-saving devices, advanced hull coatings, and scrubbers on its largest ships. These steps lower fuel consumption and allow it to use cheaper fuels while staying within environmental regulations, giving it a cost advantage when markets are tight. Genco is also leaning into digital tools for voyage planning and data analysis, and it is exploring future-facing areas like alternative fuels (such as ammonia) and autonomous hull-cleaning robots. These are early-stage efforts, but they show a willingness to adapt to decarbonization and automation trends that could reshape the shipping sector over time.

Summary

Genco’s recent financial performance shows a cyclical shipping company that has bounced back well from earlier losses, converting decent freight markets into solid profitability. The income statement highlights both the upside of strong years and the risk of volatility when markets soften. Its balance sheet and cash flow are clear strengths: low leverage, steady operating cash generation, and disciplined capital spending support the firm’s ability to withstand downturns and fund ongoing fleet improvements. This financial prudence is a key part of its strategy and helps differentiate it from more heavily indebted peers. Strategically, Genco has built a notable competitive position through its barbell fleet mix, in-house commercial platform, and emphasis on ESG leadership. Its operational and environmental technology investments, along with exploration of alternative fuels and digital tools, suggest it is positioning for a more regulated, greener, and more data-driven shipping industry. The main risks remain those typical of dry bulk shipping: sensitivity to global trade, freight rate swings, and vessel values. Within that context, Genco appears to be managing the cycle with a focus on efficiency, balance sheet strength, and gradual innovation rather than rapid expansion, which may help it navigate both upturns and downturns more steadily than in the past.

NEWS

November 24, 2025 · 4:15 PM UTC

Genco Shipping & Trading Confirms Receipt of a Non-Binding Indicative Proposal from Diana Shipping Inc.

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November 19, 2025 · 4:15 PM UTC

Genco Shipping & Trading to Acquire Two High-Specification Newcastlemax Vessels

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November 10, 2025 · 4:53 PM UTC

Genco Shipping & Trading Limited Adopts Amendment to Limited Duration Shareholder Rights Plan to Protect the Best Interests of Shareholders

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November 5, 2025 · 4:20 PM UTC

Genco Shipping & Trading Limited Announces Q3 2025 Financial Results

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October 17, 2025 · 6:55 AM UTC

Genco Shipping & Trading Limited Announces Third Quarter 2025 Conference Call and Webcast

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