DIANA SHIPPING Reports Q3 FY2023 Earnings Results on September 30th, 2023
November 20, 2023
🌥️Earnings Overview
On September 30 2023, DIANA SHIPPING ($NYSE:DSX) announced its earnings results for the third quarter of FY2023. Total revenue stood at USD 62.1 million, a decline of 15.9% from the same time period in the previous year. Net income was recorded at USD 7.4 million, indicating a 76.7% decrease from the same quarter of the prior year.
Price History
On Wednesday, September 30th, 2023, DIANA SHIPPING reported their third quarter Fiscal Year 2023 earnings results. The stock opened the day at $3.1 and closed at $3.3, a 5.8% increase from the prior closing price of $3.1. Overall, the company reported positive results for the quarter. The positive results were driven by strong demand for DIANA SHIPPING’s services and products.
Overall, DIANA SHIPPING’s earnings report for the third quarter of Fiscal Year 2023 was very positive and in-line with expectations. The company’s stock rose by 5.8% from the prior closing price and investors are optimistic about the future prospects of the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Diana Shipping. More…
| Total Revenues | Net Income | Net Margin |
| 277.79 | 60.38 | 21.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Diana Shipping. More…
| Operations | Investing | Financing |
| 130.58 | -273.1 | 84.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Diana Shipping. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.17k | 687.9 | 4.54 |
Key Ratios Snapshot
Some of the financial key ratios for Diana Shipping are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | 55.2% | 39.6% |
| FCF Margin | ROE | ROA |
| -38.5% | 14.1% | 5.9% |
Analysis
GoodWhale has conducted an analysis of DIANA SHIPPING‘s financials and based on Star Chart DIANA SHIPPING is classified as a ‘rhino’, indicating moderate revenue or earnings growth. This suggests that investors looking for moderate growth may be interested in this company. Based on our analysis, DIANA SHIPPING has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it may be able to sustain future operations in times of crisis. In addition, they are strong in growth, and medium in asset, dividend, and profitability. This paints a positive picture for potential investors, as the company is able to consistently generate cashflows and is not overly reliant on debt. More…
Peers
Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership of dry bulk vessels, today announced its unaudited results for the three months ended March 31, 2020. The Company recorded a net loss of $24.0 million, or $0.23 per share (basic and diluted), for the first quarter of 2020, compared to a net loss of $0.4 million, or $0.00 per share (basic and diluted), in the first quarter of 2019. Diana Shipping Inc.’s operating revenues and net income for the first quarter of 2020 were $74.1 million and $4.6 million, respectively. The Company’s operating revenues and net income for the first quarter of 2019 were $87.3 million and $5.0 million, respectively. Diana Shipping Inc. is one of the largest global shipping companies specializing in the ownership of dry bulk vessels. The Company’s vessels are employed primarily on charter contracts with major charterers, including Cargill International S.A., Glencore Agriculture B.V., Bunge S.A., and Noble Group Limited, among others. Diana Shipping Inc.’s competitors include Globus Maritime Ltd (NASDAQ: GLBS), Star Bulk Carriers Corp (NASDAQ: SBLK), and U-Ming Marine Transpost Corp (NYSE: UMS).
– Globus Maritime Ltd ($NASDAQ:GLBS)
Globus Maritime Ltd is a provider of dry bulk ocean transportation services. The Company’s operating segments include the ownership and operation of dry bulk carriers that transport iron ore, coal, grain, steel products and other dry bulk cargoes; and the provision of maritime transportation-related services. As of December 31, 2020, the Company’s fleet consisted of 18 dry bulk vessels with a combined deadweight tonnage (DWT) of approximately 1.8 million DWT.
– Star Bulk Carriers Corp ($NASDAQ:SBLK)
Star Bulk Carriers Corp. is a Marshall Islands-based company engaged in the business of seaborne transportation of dry bulk cargoes. The Company’s vessels transport a range of dry bulk commodities, including iron ore, coal, grain, bauxite, fertilizers and steel products. As of December 31, 2020, the Company’s operating fleet consisted of 133 dry bulk vessels with an aggregate capacity of approximately 16.1 million deadweight tons.
– U-Ming Marine Transpost Corp ($TWSE:2606)
Formosa Chemicals & Fibre Corp is a Taiwan-based company principally engaged in the manufacture and sales of chemicals. The Company’s main products include ethylene oxide (EO), propylene oxide (PO), epoxy resins, polyvinyl chloride (PVC) resins, polystyrene (PS) resins, synthetic fibers and other products. The Company operates its businesses in Taiwan, Mainland China, Southeast Asia, the United States, Europe and other regions.
Summary
DIANA SHIPPING experienced a significant decline in earnings in the third quarter of FY2023. Revenues dropped 15.9%, while net income was down 76.7% year over year. Despite this disappointing performance, the stock price of DIANA SHIPPING still moved up on the day of the earnings announcement.
This indicates that investors may be optimistic about the company’s future prospects or believe there are hidden value opportunities in the stock. Investors should thoroughly research DIANA SHIPPING and consider analyzing their financial trends, risk factors, and management strategies to better assess the company’s potential for growth.
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