Filing Flows › Genco Shipping & Trading (GNK) › Q1 2025
Genco Shipping & Trading (GNK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Genco Shipping & Trading (GNK) reported revenue of $71.3M for the first quarter 2025 (Q1 2025), -39% from a year earlier and -28% from the quarter before. Operating margin was -13.7%, net loss $12.0M (16.8% of revenue).
Genco Shipping & Trading, Q1 2025: revenue $71.3M (-39% year over year), operating margin -13.7%, net loss $12.0M, operating cash flow $2.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.3M | -28% | -39% |
| Operating profit | −$9.8M | — | — |
| Net earnings | −$12.0M | — | — |
| Operating cash flow | $2.9M | -90% | -91% |
| Free cash flow | $2.2M | -92% | -93% |
What changed
Revenue was $71.3M in Q1 2025, down 39% year over year and down 28% from the previous quarter.
Operating costs exceeded revenue by $9.8M, an operating margin of -13.7%. Total costs fell 15% while revenue fell 39%. The quarter ended with a net loss of $12.0M, after a profit of $12.5M the previous quarter.
Operating cash flow was $2.9M (down 91% year over year). Non-cash charges added back $17.7M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $4.3M. Capital expenditures of $652K left free cash flow of $2.2M.
Questions
What was Genco Shipping & Trading's revenue in the first quarter 2025?
Genco Shipping & Trading (GNK) reported revenue of $71.3M for the first quarter 2025 (Q1 2025), -39% from a year earlier and -28% from the quarter before.
Was Genco Shipping & Trading profitable in the first quarter 2025?
Operating loss was $9.8M (-13.7% of revenue) and net loss $12.0M.