Business
Toro Corp. Reports Net Income of $1.6 Million for the Three Months Ended December 31, 2025 and $5.9 Million for the Year Ended December 31, 2025
LIMASSOL, Cyprus, April 15, 2026 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO), (“Toro”, or the “Company”), a global energy transportation provider, today
About this update from Toro Corp.
[{"type":"text","content":"LIMASSOL, Cyprus, April 15, 2026 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO), (“Toro”, or the “Company”), a global energy transportation provider, today announced its results for the three months and the year ended December 31, 2025. Highlights of the Fourth Quarter Ended December 31, 2025: Total vessel revenues from continuing operations: $6.1 million, as compared to $5.2 million for the three months ended December 31, 2024, or a 17.3% increase; Net income from continuing operations: $1.4 million, as compared to $1.0 million for the three months ended December 31, 2024, or a 40% increase;Net income: $1.6 million, as compared to $1.0 million for the three months ended December 31, 2024, or a 60% increase;Earnings/(Loss) per common share, basic, from continuing operations: $0.02 per share, as compared to $(0.01) per share for the three months ended December 31, 2024;EBITDA(1) from continuing operations: $2.2 million, as compared to $0.2 million for the three months ended December 31, 2024; Cash of $87.4 million as of December 31, 2025, as compared to $37.2 million as of December 31, 2024;On October 13, 2025, we and Castor Maritime Inc. (“Castor”) agreed to the full redemption of 60,000 shares of Castor’s 8.75% Series E Cumulative Perpetual Convertible Preferred Shares issued by Castor in September 2025 (the “Series E Preferred Shares”), for a cash consideration equal to the stated amount of the Series E Preferred Shares of $60.0 million plus 0.523% thereof, including accrued and unpaid distributions; andOn December 5, 2025, we declared a one-time, special dividend of $1.75 per common share, consisting of either cash or our common shares. The dividend was payable to our shareholders of record at the close of business on December 16, 2025 and was paid on January 16, 2026 in the form of approximately $9.3 million in cash and 7,378,575 shares of our common stock. Highlights of the Year Ended December 31, 2025: Total vessel revenues from continuing operations: $21.1 million, as compared to $22.4 million for the year ended December 31, 2024, or a 5.8% decrease;Net income from continuing operations: $5.6 million, as compared to $5.5 million for the year ended December 31, 2024, or a 1.8% increase;Net income: $5.9 million, as compared to $25.2 million for the year ended December 31, 2024, or a 76.6% decrease;Earnings/(Loss) per common ...