Genco Shipping reports Q4 EPS 67c, consensus 64c

Reports Q4 revenue $126.97M, consensus $77.78M. John Wobensmith, CEO, commented, "During 2022, we advanced our strategy of creating a unique drybulk vehicle with an attractive risk-reward profile, while generating sizeable earnings and returning significant capital to shareholders. Dividends under our value strategy have been robust, highlighted by the $2.57 per share that we declared in 2022. Importantly, we have also stayed true to our value strategy’s three pillars of dividends, deleveraging, and growth, continuing to invest in our fleet and paying down debt, which has enabled us to further lower our cash flow break-even levels and strengthen our position to pay sizable dividends over the long-term and through diverse rate environments."