Seanergy Maritime Holdings Corp (SHIP)
NASDAQ:SHIP
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.94Last Year’s EPS
0.18Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance for Q1 2026 with sizable YoY revenue (+≈77.7%) and adjusted EBITDA (+253%) gains, robust TCEs, ongoing shareholder returns (18th consecutive dividend), active fleet renewal (6 newbuilds contracted) and substantial financing progress (≈$237M secured for 4 ships). Management emphasizes disciplined capital allocation and manageable remaining CapEx (~$19M equity need for 2026), while acknowledging external risks: geopolitical uncertainty, concentration in the Capesize sector, remaining financing for 2 newbuilds, pending vessel disposals, and dry-docking/opex pressures. Overall, the positive operational results, balance sheet liquidity, and concrete progress on newbuild financing and commercial coverage outweigh the noted execution and market risks.Company Guidance
Strong Revenue Growth
Net revenues rose to $43.0M from $24.2M year-over-year, an increase of approximately 77.7%, driven by a robust Capesize market and commercial strategy.
Material Adjusted EBITDA and EPS Improvement
Adjusted EBITDA totaled $28.2M (up 253% YoY). Adjusted EPS was $0.63 per share, described as one of the strongest among listed dry bulk peers.
Consistent Shareholder Returns
Declared the 18th consecutive quarterly cash dividend of $0.20 per share; cumulative shareholder distributions of about $2.84 per share (≈$55.6M) since inception.
Commercial Outperformance and Forward Coverage
Fleet time charter equivalent (TCE) averaged $24,200/day in Q1, ~6% above the BCI-180 index. Q2 TCE expectation ~ $31,430/day. Approximately 45% of available operating days from Q2 to year-end are fixed at average gross rates > $29,000/day; management also noted ~50% coverage in FFAs until year-end around $29,000/day, providing strong earnings visibility while preserving upside exposure.
Fleet Renewal Progress and Modernization
Contracted 3 additional vessels during the quarter (6 modern eco-design newbuilds contracted in total) and agreed to dispose of three older vessels (one sold at firm secondhand pricing). Company has invested ≈$69M of equity from internal funds into the program.
Financing and Balance Sheet Strength
Secured approximately $237M of financing for 4 of the 6 newbuildings (including predelivery financing). Cash and restricted cash totaled $68.8M despite $31M invested in newbuilds during the quarter. Total assets $640M; shareholders' equity $289.3M; total debt $319.7M and reported loan-to-value of ~43% (based on fleet market value).
Positive Capesize Market Fundamentals
Management cited strong demand drivers (bauxite, iron ore, coal restocking, grains), constrained effective supply due to slower speeds, port waiting times and extensive dry-docking needs (noting >20% of certain vintages due for surveys), and a relatively modest newbuilding orderbook (~13%-14% of fleet), supporting near-term rate strength.
Controlled Capital Expenditure Cadence
Remaining newbuilding CapEx for Q2–Q4 2026 is approximately $72M: $36M already paid in Q2, $17M to be covered by predelivery debt, leaving ~$19M to be covered by cash/sales/operating cash flow — presented as comfortably manageable given liquidity.
SHIP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SHIP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 28, 2026 | $14.86 | $14.15 | -4.78% |
Feb 17, 2026 | $11.32 | $12.46 | +9.99% |
Nov 13, 2025 | $8.54 | $8.96 | +4.90% |
Aug 05, 2025 | $6.70 | $7.02 | +4.68% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Seanergy Maritime Holdings Corp (SHIP) report earnings?
Seanergy Maritime Holdings Corp (SHIP) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Seanergy Maritime Holdings Corp (SHIP) earnings time?
Seanergy Maritime Holdings Corp (SHIP) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is SHIP EPS forecast?
SHIP EPS forecast for the fiscal quarter 2026 (Q2) is 0.94.