Start here if you're new
what it is
Genco moves iron ore, coal, grain, steel, and other bulk cargo on ships.
how it gets paid
Last year Genco Shipping made $342M in revenue. Iron ore cargo was the main engine at $136M, or 40% of sales.
why growth slowed
Revenue fell 19.1% last year. EPS of -$0.46 matters because it shows the company still lost money even after revenue jumped 190%.
what just happened
Revenue hit $232M, but EPS was -$0.46 and the quarter still lost money.
At a glance
B balance sheet — gets the job done, barely
15/100 earnings predictability — expect surprises
8.2% return on capital — nothing to write home about
$1.75 fy2024 eps est
$423M fy2024 rev est
xvary composite: 52/100 — below average
What they do
Genco moves iron ore, coal, grain, steel, and other bulk cargo on ships.
You are buying 42 ships, not a brand. 16 Capesize ships, the biggest cargo haulers, move the heavy loads, while 26 smaller ships handle the rest. The fleet averages 12.8 years old, so your steel still works before it starts acting like a repair bill.
How they make money
$342M
annual revenue · their business grew -19.1% last year
Iron ore cargo
$136M
Coal cargo
$92M
Grain cargo
$63M
Steel and other dry cargo
$51M
The products that matter
iron ore and coal transport
Major Bulk Fleet
$342M disclosed fleet revenue
it carries the heavy cargoes that produced $342M in annual revenue. if this fleet is under-earning, the whole story sags with it.
core earnings driver
grain and steel transport
Minor Bulk Fleet
reported inside one combined segment
the company tells you this fleet matters operationally but does not break out a clean revenue line for it. that limits how precisely you can underwrite the standalone business.
reporting is thin
Key numbers
$1.75
fy2024 eps est
$423M
fy2024 rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 30 / 100
- long-term debt $164M (16% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for GNK right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $232M, but EPS was -$0.46 and the quarter still lost money.
Revenue was up 190% from a weak prior-year base. The annual picture is softer: TTM revenue is $342M, down 19.1% vs. prior year. Yahoo Finance lists trailing EPS at -$0.08, while the latest EDGAR quarter shows -$0.46, so the earnings picture is noisy.
$232M
revenue
-$0.46
eps
190.0%
revenue vs. last year
the number that mattered
EPS of -$0.46 matters because it shows the company still lost money even after revenue jumped 190%.
source: EDGAR quarterly filing
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What could go wrong
the #1 risk is diana shipping's $24.05 bid going nowhere. if that premium disappears, you are left judging GNK on standalone shipping economics.
med
takeover spread collapse
Diana's $24.05 offer is 13% above the current $21.33 share price. If the board rejects it without a better alternative, the spread disappears fast.
The standalone reference in this snapshot is roughly $19. That is the downside math the market keeps in the room.
med
dry-bulk rate whiplash
This business lives on freight rates. Genco's own recent history shows how sharp the swings get: an EPS loss of $0.16 in Q2 2025 despite a revenue beat, then a Q4 EPS beat at $0.39.
When pricing moves against you, a 35.74% gross margin can still turn into a -1.28% net margin.
med
governance distraction during a strategic review
The disclosed proxy-battle risk matters more when a company is fielding an unsolicited bid. Management attention can drift from operations to boardroom defense.
That does not create the rate volatility, but it can make a bad market harder to handle.
Most of your upside is the gap between $21.33 and $24.05. Most of your downside is what the standalone business looks like if that gap closes the wrong way.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deal
board response to the $24.05 offer
This is the main catalyst. A formal rejection, engagement, or competing bid will decide whether GNK trades like a merger spread or a shipping stock again.
calendar
q1 2026 dividend declaration
Management signaled a higher Q1 dividend as rates jumped more than 50%. If that cash payout shows up, it supports the case that the market improved faster than trailing margins suggest.
rates
capesize and newcastlemax pricing
These rate moves feed directly into voyage economics. If freight rolls over, the takeover floor matters more because the operating story gets weaker.
profitability
whether gross margin turns into net profit
A 35.74% gross margin paired with a -1.28% net margin tells you overhead, financing, and rate volatility are doing real damage. You want to see that gap close.
Analyst rankings
earnings predictability
15 / 100
in human-speak, analysts think the next quarter is hard to forecast and the stock can surprise you in either direction.
risk rank
3
That lands GNK around the middle of the pack on overall risk. Safer than the weakest balance sheets, still nowhere near defensive.
price stability
30 / 100
The stock does not move like a utility. It moves like a small shipping name with a live bid attached.
source: institutional data
Institutional activity
institutional ownership data for GNK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$21
current price
n/a
target midpoint · n/a from current
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