GNK Intrinsic Value Calculator – GENCO SHIPPING & TRADING Reports Earnings for 2nd Quarter of FY2023
August 26, 2023
🌥️Earnings Overview
GENCO SHIPPING & TRADING ($NYSE:GNK) released its financial results for the quarter ending June 30 2023, which showed total revenue of USD 90.6 million, a 34.3% decrease from the same period in the previous year. Net income was USD 11.6 million, a decline of 75.6% compared to the same quarter the year prior.
Share Price
The company opened its stock at $14.8 and closed at $13.9, a decrease of 4.3% from the prior closing price of 14.6. The decrease in net income was attributed to higher operating expenses, including cost of sales and administrative costs. The dividend will be paid out to shareholders on August 12th, 2023, with a record date of July 31st, 2023. Investors will likely be watching the company closely in the next quarter to see if it can continue to improve its profitability and remain competitive in the industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for GNK. More…
| Total Revenues | Net Income | Net Margin |
| 447.89 | 83.7 | 18.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for GNK. More…
| Operations | Investing | Financing |
| 129.11 | -8.57 | -117.28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for GNK. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.14k | 180.45 | 22.44 |
Key Ratios Snapshot
Some of the financial key ratios for GNK are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.2% | 379.9% | 20.7% |
| FCF Margin | ROE | ROA |
| 26.4% | 6.1% | 5.1% |
Analysis – GNK Intrinsic Value Calculator
At GoodWhale, we recently conducted an analysis on GENCO SHIPPING & TRADING’s wellbeing. Our proprietary Valuation Line estimates the intrinsic value of GENCO SHIPPING & TRADING’s share to be around $20.2. However, currently GENCO SHIPPING & TRADING shares are being traded at only $13.9, which means that the stock is currently undervalued by 31.3%. We believe this presents an attractive opportunity for investors to maximize their returns. More…
Peers
In the shipping industry, there is intense competition among companies to secure business and achieve profitability. Genco Shipping & Trading Ltd is one company that competes against others, such as Golden Ocean Group Ltd, Diana Shipping Inc, and Seanergy Maritime Holdings Corp. All of these companies are striving to be the best in the industry, and each has its own strengths and weaknesses. The competition between them is fierce, and it is important for each company to carefully consider its strategies in order to be successful.
– Golden Ocean Group Ltd ($NASDAQ:GOGL)
Golden Ocean Group Ltd. engages in the ownership and operation of dry-bulk vessels. It operates through the following segments: Bulk Carriers and Tankers. The Bulk Carriers segment offers transportation services for iron ore, coal, grain, steel products, and other dry bulk cargoes. The Tankers segment engages in the transportation of crude oil and refined petroleum products. The company was founded on November 15, 1993 and is headquartered in Hamilton, Bermuda.
– Diana Shipping Inc ($NYSE:DSX)
Diana Shipping is a global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company’s vessels are employed primarily on time charters with leading charterers. The Company’s operating fleet consists of 72 dry bulk carrier vessels, with a weighted average age of 12.5 years and an average cargo-carrying capacity of 528,000 DWT. The Company’s vessels are employed primarily on time charters with leading charterers including Cargill International S.A., Bunge S.A., Glencore Agriculture B.V., Louis Dreyfus Company, Phibro LLC and Vitol S.A.
– Seanergy Maritime Holdings Corp ($NASDAQ:SHIP)
Steergy Maritime Holdings Corp is a holding company that owns and operates a fleet of Capesize vessels. The company has a market cap of $87.37 million and a return on equity of 16.65%. The company’s fleet of vessels transport iron ore and coal around the world.
Summary
GENCO SHIPPING & TRADING reported its second quarter earnings results for FY2023, with total revenue of USD 90.6 million and net income of USD 11.6 million. Both figures showed a significant decrease compared to the prior year, by 34.3% and 75.6% respectively. With these numbers, investors may be concerned about the company’s near-term performance and outlook.
Market sentiment appears to have been affected, as the stock price dropped on the same day. Careful consideration should be taken when investing in GENCO SHIPPING & TRADING at this time, as there is clearly a risk of further losses in share value.
