Overview
Performance Shipping Q3 revenue fell to $18.5 mln, down from $22.9 mln in 2024
Net income for Q3 2025 decreased to $3.9 mln from $12.4 mln in 2024
Company attributes revenue decline to lower TCE rates and drydock activities
Outlook
Company expects strong market fundamentals to support Aframax tanker rates
Performance Shipping to acquire two Suezmax tankers for delivery in early 2026
Company's secured revenue backlog increased to $330 mln for 2026
Result Drivers
TCE RATE DECLINE - Co attributes revenue decrease to lower time-charter equivalent rates
DRYDOCK IMPACT - Reduced available days due to drydock of P. Aliki affected revenue
HIGHER EXPENSES - Increased financing and administrative costs due to bond issuance and sale-leaseback transactions
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $18.54 mln | ||
Q3 EPS | $0.10 | ||
Q3 Net Income | $3.91 mln | ||
Q3 Basic EPS | $0.28 | ||
Q3 Vessel Operating Expenses | $6.13 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for Performance Shipping Inc is $5.25, about 57.5% above its November 24 closing price of $2.23
The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 1 three months ago
Press Release: ID:nGNXGFLmf
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)