Castor Maritime reports Q2 EPS $2.29 vs. 86c last year

Reports Q2 revenue $16.3M vs. $25.3M last year. Petros Panagiotidis, Chief Executive Officer of Castor, commented: “In the second quarter of 2024, we enjoyed robust cash flows from operations and from the sale of a number of our dry cargo vessels. This allowed us to reduce our debt and strengthen our balance sheet further. In May, we completed our tender offer for the vast majority of our outstanding warrants, aiming to provide greater clarity in our capital structure. During the second quarter, we repaid a significant portion of our debt, reducing our finance costs further and utilizing part of our substantial liquidity. Importantly, we have recently announced our entry into the dry cargo Ultramax sector. We remain committed to our growth trajectory by seeking further opportunities in the shipping space, including opportunities to modernize our fleet.”