Diana Shipping(US:DSX)2025-11-20 21:42Financial Performance - Net income for Q3 2025 was $7.2 million, up from $3.7 million in Q3 2024, representing a 94.6% increase[1] - Net income attributable to common stockholders for Q3 2025 was $5.7 million, compared to $2.3 million in Q3 2024, a 147.8% increase[1] - Earnings per share for Q3 2025 were $0.05, compared to $0.02 in Q3 2024, reflecting a 150% increase[1] - Net income for the nine months ended September 30, 2025, was $14.7 million, compared to $3.0 million for the same period in 2024, a 390% increase[3] - Earnings per share for the nine months ended September 30, 2025, were $0.09, compared to a loss per share of $0.01 in 2024[3] - Net income for Q3 2025 was $7,158,000, compared to $3,715,000 in Q3 2024, representing an increase of 92.5%[15] - Net income attributable to common stockholders for Q3 2025 was $5,715,000, up from $2,272,000 in Q3 2024, marking a 151.5% increase[15] - The company reported a comprehensive income of $7.313 million for Q3 2025, up from $3.715 million in Q3 2024[26] Revenue and Charter Performance - Time charter revenues for Q3 2025 were $51.9 million, down from $57.5 million in Q3 2024, a decrease of 9.8%[2] - Time charter revenues for the nine months ended September 30, 2025, were $161.5 million, down from $171.1 million in 2024, a decrease of 5.5%[3] - Time charter revenues for Q3 2025 were $51,861,000, a decrease of 9.3% from $57,488,000 in Q3 2024[15] - Time charter revenues for Q3 2025 were $51.861 million, a decrease of 9% from $57.488 million in Q3 2024[26] - The company has ongoing charters with various charterers, including Cargill and Bunge, with gross rates ranging from $12,250 to $16,500 per day[5] Operational Metrics - Average daily time charter equivalent (TCE) rate for Q3 2025 was $15,178, a slight decrease from $15,333 in Q3 2024[15] - Fleet utilization for Q3 2025 was 99.4%, compared to 99.9% in Q3 2024[15] - The average number of vessels in the fleet decreased to 36.2 in Q3 2025 from 38.7 in Q3 2024[15] - Vessel operating expenses for Q3 2025 were $20,002,000, down from $21,239,000 in Q3 2024, a reduction of 5.8%[15] - Ownership days for Q3 2025 were 3,326, compared to 3,561 in Q3 2024, indicating a decrease in operational capacity[15] Cash Flow and Assets - Total assets as of September 30, 2025, were $1.184 billion, a slight increase from $1.171 billion as of December 31, 2024[27] - Long-term debt as of September 30, 2025, was $651.113 million, an increase from $637.525 million at the end of 2024[27] - Cash and cash equivalents decreased to $133.859 million from $207.166 million as of December 31, 2024[27] - Net cash provided by operating activities for Q3 2025 was $14.363 million, compared to $19.203 million in Q3 2024[29] Dividends and Future Plans - The company declared a cash dividend of $0.01 per common share for Q3 2025, payable on December 17, 2025[4] - The management plans to conduct a conference call on November 20, 2025, to discuss these results and future strategies[17] - The company has not provided specific guidance for future performance but acknowledges various market risks that could impact results[24]