Business
Seanergy Maritime Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2022 and Declares Cash Dividend of $0.025 Per Share
Highlights of the Third Quarter of 2022: Net revenues: $34.0 million in Q3 2022, as compared to $48.2 million in Q3 2021Net Income: $7.1 million in Q3 2022,
About this update from Seanergy Maritime Holdings Corp.
[{"type":"text","content":"Highlights of the Third Quarter of 2022: Net revenues: $34.0 million in Q3 2022, as compared to $48.2 million in Q3 2021Net Income: $7.1 million in Q3 2022, as compared to $20.1 million in Q3 2021Adjusted Net Income1: $7.6 million in Q3 2022, as compared to $22.8 million in Q3 2021EBITDA1: $18.6 million in Q3 2022, as compared to $30.1 million in Q3 2021Adjusted EBITDA1: $19.0 million in Q3 2022, as compared to $32.2 million in Q3 2021Earnings per share (“EPS”) (basic & diluted): $0.04Adjusted EPS1 (basic & diluted): $0.04 Highlights of the Nine Months ended September 30, 2022: Net revenues: $96.5 million in 9M 2022, as compared to $96.4 million in 9M 2021Net Income: $16.7 million in 9M 2022, as compared to $20.7 million in 9M 2021Adjusted Net Income1: $22.4 million in 9M 2022, as compared to $25.4 million in 9M 2021EBITDA1: $47.5 million in 9M 2022, as compared to $47.4 million in 9M 2021Adjusted EBITDA1: $53.1 million in 9M 2022, as compared to $51.4 million in 9M 2021Earnings per share (“EPS”) (basic & diluted): $0.10 and $0.09 respectively Adjusted EPS1 (basic & diluted): $0.13 Other Developments: Quarterly dividend of $0.025 per share for Q3 2022 - total cash dividends of $0.125 per share in 2022 to date Dividends represent 25% yield based on our closing price on November 29, 2022 Total buybacks of convertible notes, warrants and shares of $26.7 million completed since Q4 2021 New financing and refinancing transactions totaling $108.3 million within 2022 with improved pricing and overall loan terms - no remaining loan maturities until Q4 2023 ATHENS, Greece, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (“Seanergy” or the “Company”) (NASDAQ: SHIP), announced today its financial results for the third quarter and nine months ended September 30, 2022. The Company also declared a quarterly dividend of $0.025 per share for the third quarter of 2022. For the quarter ended September 30, 2022, the Company generated Net Revenues of $34.0 million, compared to $48.2 million in the third quarter of 2021. Adjusted EBITDA for the quarter was $19.0 million, compared to $32.2 million in the same period of 2021. Net Income and Adjusted Net Income for the quarter were $7.1 million and $7.6 million, respectively, compared to Net Income of $20.1 million and Adjusted Net Income of $22.8 million in the third quarter of 2021....