Business
Castor Maritime Inc. Reports Net Income of $17.6 Million for the Three Months Ended December 31, 2025 and Net Income of $21.5 Million for the Year Ended December 31, 2025
LIMASSOL, Cyprus, April 15, 2026 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM) (“Castor” or the “Company”), a diversified global shipping and energy
About this update from Castor Maritime Inc.
[{"type":"text","content":"LIMASSOL, Cyprus, April 15, 2026 (GLOBE NEWSWIRE) -- Castor Maritime Inc. (NASDAQ: CTRM) (“Castor” or the “Company”), a diversified global shipping and energy company, today announced its results for the three months and year ended December 31, 2025. Highlights of the Fourth Quarter Ended December 31, 2025: Total vessel revenues: $13.3 million for the three months ended December 31, 2025, as compared to $15.0 million for the three months ended December 31, 2024, or an 11.3% decrease;Revenue from services: $9.2 million for the three months ended December 31, 2025; Net income of $17.6 million for the three months ended December 31, 2025, as compared to a $32.7 million loss for the three months ended December 31, 2024, or a 153.8% increase;Adjusted net income(1) of $5.2 million for the three months ended December 31, 2025, as compared to a $7.7 million loss for the three months ended December 31, 2024;Earnings / (loss) per common share, basic: $1.21 per share for the three months ended December 31, 2025, as compared to ($1.24) per share for the three months ended December 31, 2024;EBITDA(1): $23.5 million for the three months ended December 31, 2025, as compared to $(28.7) million for the three months ended December 31, 2024; Adjusted EBITDA(1): $11.2 million for the three months ended December 31, 2025, as compared to $3.4 million for the three months ended December 31, 2024; Cash and restricted cash of $152.8 million as of December 31, 2025, as compared to $87.9 million as of December 31, 2024;On October 13, 2025, we and Toro Corp. (“Toro”) agreed to the full redemption of 60,000 shares of our 8.75% Series E Cumulative Perpetual Convertible Preferred Shares issued by us in September 2025 (the “Series E Preferred Shares”), for cash consideration equal to its stated amount of $60.0 million plus 0.523% thereof, including accrued and unpaid distributions; andOn October 13, 2025, we secured a $50.0 million sustainability-linked senior term loan facility with a five-year tenor. Highlights of the Year Ended December 31, 2025: Total vessel revenues: $46.2 million for the year ended December 31, 2025, as compared to $65.1 million for the year ended December 31, 2024, or a 29.0% decrease;Revenue from services: $35.6 million for the year ended December 31, 2025;Net income of $21.5 million for the year ended December 31, 2025, as compared to...