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Pyxis Tankers (PXS) - 2020 Q4 - Annual Report
2021-04-12 13:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 PYXIS TANKERS INC. (Exact name of Registrant as specified in its charter and translation of Registrant's name into English) Marshall Islands (Jurisdiction of incorporation or organizat ...
Pyxis Tankers (PXS) - 2020 Q4 - Earnings Call Presentation
2021-03-25 23:28
Q4 & FY 2020 Financial Results March 24, 2021 DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 applicable securities laws. The words "expected'', "estimated", "scheduled", "could", "should", "anticipated", "long-term", "opportunities", "potential", "continue", "likely", "may", "will", "positioned", "possible", "believe", "expand" and variations o ...
Pyxis Tankers (PXS) - 2020 Q4 - Earnings Call Transcript
2021-03-25 01:54
Financial Data and Key Metrics Changes - Time charter equivalent revenues for Q4 2020 were $3.6 million, down 42% from the same period in 2019 due to fewer operating days, lower rates, and special surveys for two ships [5][20] - The net loss for Q4 2020 was $2.7 million or $0.12 per share, an improvement compared to a net loss of $3.6 million in the same period of the prior year [5][21] - Adjusted EBITDA for Q4 2020 declined significantly to a negative $200,000 [6][21] Business Line Data and Key Metrics Changes - The average daily time charter equivalent for medium-range product tankers was approximately $12,300, which was better than potential spot market results [7] - The daily TCE rate fleet-wide was less than $10,300, a decline of $2,100 per day from the comparable 2019 period [20] Market Data and Key Metrics Changes - Chinese gasoline exports increased by 30% in the first two months of 2021 to over 3.5 million tons, while U.S. gasoline inventories are now 12% below the April 2020 peak [8][9] - The indicative one-year time charter rate for an eco-efficient MR has declined to $14,400 per day, approximating the 10-year average [15] Company Strategy and Development Direction - The company has maintained a strategy of six-month time charters, most of which have options at higher rates, to navigate the challenging chartering environment [7] - Recent financing activities have strengthened the balance sheet, enhanced liquidity, and provided capital for debt repayment and potential vessel acquisitions [10][11][26] Management's Comments on Operating Environment and Future Outlook - Management expects tough chartering conditions to persist until fall but remains positive on the long-term outlook for the product tanker sector [8][26] - The IMF revised its forecast for global economic growth in 2021 to 5.5%, which could support the product tanker sector [16] Other Important Information - The company completed special surveys for two small tankers in Q4 2020 and has no major dry dockings until 2023 [10] - The consolidated leverage ratio at quarter close was less than 62% of total capitalization, but recent financing activities indicate a lower ratio of 27% [24] Q&A Session Summary - The call concluded without any questions from participants [27]
Pyxis Tankers (PXS) - 2020 Q3 - Earnings Call Transcript
2020-11-16 15:43
Pyxis Tankers Inc. (NASDAQ:PXS) Q3 2020 Results Earnings Conference Call November 13, 2020 4:30 PM ET Company Participants Eddie Valentis - Chairman & Chief Executive Officer Henry Williams - Chief Financial Officer Conference Call Participants Operator Good day and welcome to the Pyxis Tankers Conference Call to discuss the Financial Results for the Third Quarter 2020. As a reminder, today's call is being recorded. Additionally, a live webcast of today's conference call and an accompanying presentation is ...
Pyxis Tankers (PXS) - 2020 Q3 - Earnings Call Presentation
2020-11-16 15:36
November 13, 2020 Q3 & 9 Months Ended September 30, 2020 Financial Results DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 applicable securities laws. The words "expected'', "estimated", "scheduled", "could", "should", "anticipated", "long-term", "opportunities", "potential", "continue", "likely", "may", "will", "positioned", "possible", "believ ...
Pyxis Tankers (PXS) - 2020 Q2 - Earnings Call Presentation
2020-08-11 08:43
August 10, 2020 Q2 & 6 Months Ended June 30, 2020 Financial Results DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 applicable securities laws. The words "expected'', "estimated", "scheduled", "could", "should", "anticipated", "long-term", "opportunities", "potential", "continue", "likely", "may", "will", "positioned", "possible", "believe", "ex ...
Pyxis Tankers (PXS) - 2019 Q4 - Annual Report
2020-03-31 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [ ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...
Pyxis Tankers (PXS) - 2018 Q4 - Annual Report
2019-03-29 12:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [ ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...