Filing Flows › Genco Shipping & Trading (GNK) › Q1 2026
Genco Shipping & Trading (GNK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Genco Shipping & Trading (GNK) reported revenue of $114M for the first quarter 2026 (Q1 2026), +61% from a year earlier and +4% from the quarter before. Operating margin was 11.6%, net earnings $9.3M (8.1% of revenue).
Genco Shipping & Trading, Q1 2026: revenue $114M (+61% year over year), operating margin 11.6%, net earnings $9.3M, operating cash flow $15.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $114M | +4% | +61% |
| Operating profit | $13.3M | -30% | — |
| Net earnings | $9.3M | -40% | — |
| Operating cash flow | $15.7M | -1% | +441% |
| Free cash flow | $15.3M | -2% | +579% |
What changed
Revenue was $114.4M in Q1 2026, up 61% year over year and up 4% from the previous quarter.
Operating profit was $13.3M, a 11.6% margin (up 25.3 points year over year). Total costs grew 25% against revenue growth of 61%. The fastest-growing cost line was Other operating costs (+26%). Net earnings were $9.3M. The effective tax rate was 0.0%.
Operating cash flow was $15.7M (up 441% year over year), 164% of net income including minority interests. Non-cash charges added back $21.0M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items used $16.8M. Capital expenditures of $405K left free cash flow of $15.3M.
Questions
What was Genco Shipping & Trading's revenue in the first quarter 2026?
Genco Shipping & Trading (GNK) reported revenue of $114M for the first quarter 2026 (Q1 2026), +61% from a year earlier and +4% from the quarter before.
Was Genco Shipping & Trading profitable in the first quarter 2026?
Operating profit was $13.3M (11.6% of revenue) and net earnings $9.3M.