Pyxis Tankers Inc. (PXS) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and welcome to the Pixis Tankers conference call to discuss the financial results for the first quarter 2024. I must advise you that the conference call is being recorded. Additionally, a live webcast of today's conference call and accompanying presentation is available on Pixis Tankers' website, which is www.pixistankers.com. Hosting the call is Mr. Eddie Valentis, Chairman and Chief Executive Officer of Pixis Tankers. and Mr. Henry Williams, Chief Financial Officer of the company. I would like to pass the floor to one of your speakers today, Mr. Eddie Valentin. Please go ahead, sir. Hello, everyone, and thank you for joining our call for results of the three months ended March 31st, 2024. The effects on global seaborne trade from the Russian-Ukraine war have been further compounded by the conflict in the Red Sea. Overall, Global economic activity has been resilient, including the OECD, despite the tight monetary policies by many central banks. Inflation is persisting and the prospects of interest rate cuts have been lowered to later this year. However, the fundamentals for our two markets, product tankers and rival carriers, are positive, characterized by healthy charter rates and rising asset values. While market conditions are dynamic and beyond our control, we expect to continue to successfully manage our operations through this volatile time. Before commenting on our solid operating and financial results for the most recent period, please let me draw your attention to some important legal notifications on slide 2 that we recommend you read, including our presentation today, which will include forward-looking statements. Thank you. Turning to slide 3, our most recent quarterly results reflected healthy financial performance in revenues and profitabilit...