Seanergy Maritime Holdings (NASDAQ:SHIP) Third Quarter 2022 Results

Key Financial Results

• Revenue: US$34.0m (down 30% from 3Q 2021).
• Net income: US$7.14m (down 64% from 3Q 2021).
• Profit margin: 21% (down from 42% in 3Q 2021). The decrease in margin was driven by lower revenue.
• EPS: US$0.041 (down from US$0.12 in 3Q 2021).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Seanergy Maritime Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 7.5% decline forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Seanergy Maritime Holdings is showing 5 warning signs in our investment analysis and 1 of those is a bit unpleasant...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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