NASDAQ$SHIP
Seanergy Maritime Holdings Corp · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Seanergy Maritime Q1 2025: $24.2M revenue, $6.8M net loss as seasonal dry-bulk slowdown offsets fleet expansion
Seanergy Maritime reported Q1 2025 net revenues of $24.2 million versus $38.3 million a year earlier, reflecting a seasonally weak Capesize market after record 2024 results. The company posted a net loss of $6.8 million ($0.34 per share basic and diluted) compared with net income of $10.2 million in Q1 2024; adjusted net loss was $5.2 million ($0.27 per share). Fleet daily TCE of $13,403 outperformed the Baltic Capesize Index by 3%, and the 21-vessel fleet grew with deliveries of Newcastlemax Meiship and bareboat Capesize Blueship. Seanergy closed $88.1 million in new financings and refinancings, kept estimated loan-to-value below 50%, and declared a $0.05 quarterly cash dividend—its 14th consecutive payout. Management guided Q2 blended fleet TCE above $19,000 with roughly 39% of Q2 days fixed near $22,700.
- Net revenues fell to $24.2M from $38.3M YoY; net loss was $6.8M ($0.34/share) versus $10.2M profit a year ago
- Fleet TCE averaged $13,403/day in Q1, 3% above the Baltic Capesize Index despite seasonal market weakness
- Fleet expanded to 21 Capesize/Newcastlemax vessels; $88.1M in new financings addressed near-term maturities
- Board declared a $0.05/share quarterly dividend, the 14th consecutive payout under the capital return policy
- Q2 guidance: ~79% of operating days fixed at ~$19,660 TCE with blended fleet TCE projected above $19,000
Headline financials
Revenue & EPS history
Seanergy · Revenue · Quarterly
$24.2M
Forward guidance
Management expects meaningful Q2 earnings improvement with ~79% of Q2 operating days fixed at ~$19,660 TCE and blended fleet TCE above $19,000 assuming remaining index-linked days at ~$17,400 FFA.
Tailwinds
- Roughly one-third of 2025 operating days secured at average daily rates exceeding $22,000
- Market recovery began late February with improving Capesize fundamentals and constrained supply
Headwinds
- Q1 results pressured by typical seasonal dry-bulk slowdown and lower rates versus record Q1 2024
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q1 2025
+0.1%
Avg return
Earnings day
-3.9%
Avg return
5 days after
-11.4%
Avg return
30 days after
48%
30 / 63 earnings
Positive
+62.5%
Q1 2015
Best reaction
-42.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -4.7% | +6.0% | — | |
| Q1 2026 | +0.6% | +1.9% | — | |
| Q4 2026 | +9.5% | +20.0% | +10.9% | |
| Q3 2025 | +4.7% | +8.1% | +11.6% | |
| Q2 2025 | +4.5% | +6.9% | +18.7% | |
| Q1 2025 | +4.8% | +3.5% | +9.0% | |
| Q3 2024 | +1.5% | +3.0% | -16.7% | |
| Q2 2024 | +13.5% | +17.0% | +21.0% | |
| Q4 2023 | +5.1% | +2.7% | -0.3% | |
| Q3 2023 | +5.7% | +7.8% | +40.1% | |
| Q2 2023 | -0.9% | +0.7% | +0.7% | |
| Q1 2023 | -4.0% | -5.3% | -2.9% | |
| Q4 2022 | -9.5% | -10.8% | -20.7% | |
| Q3 2022 | +2.0% | +4.0% | +0.0% | |
| Q2 2022 | -0.4% | +2.8% | -26.4% | |
| Q1 2022 | -2.4% | -1.7% | -32.5% | |
| Q4 2021 | +0.8% | -13.4% | -11.8% | |
| Q3 2021 | -2.7% | -3.5% | -20.4% | |
| Q2 2021 | -1.9% | -2.9% | +21.2% | |
| Q1 2021 | -4.7% | -6.5% | +16.7% | |
| Q4 2020 | +1.8% | -9.0% | -15.3% | |
| Q3 2020 | -10.4% | -4.1% | -2.0% | |
| Q2 2020 | -7.5% | -8.2% | -72.8% | |
| Q1 2020 | -42.5% | -6.7% | -68.5% | |
| Q4 2019 | -3.0% | -13.3% | -20.0% | |
| Q3 2019 | -32.5% | -34.9% | -37.3% | |
| Q2 2019 | -7.3% | -11.9% | +5.1% | |
| Q1 2019 | -14.0% | -15.2% | -10.6% | |
| Q4 2018 | -35.6% | -36.5% | -38.3% | |
| Q3 2018 | -1.5% | -4.3% | -24.6% | |
| Q2 2018 | -3.0% | -8.1% | -10.1% | |
| Q1 2018 | +7.6% | +8.0% | +9.2% | |
| Q4 2017 | -15.5% | -14.8% | -37.4% | |
| Q3 2017 | +0.9% | -8.5% | -10.3% | |
| Q2 2017 | +2.6% | -2.6% | +3.5% | |
| Q1 2017 | -6.5% | -27.1% | -29.9% | |
| Q4 2016 | +34.1% | +7.3% | -8.5% | |
| Q3 2016 | +2.2% | -4.3% | -50.0% | |
| Q2 2016 | -3.1% | -7.2% | -31.0% | |
| Q1 2016 | +3.8% | +5.2% | -3.3% | |
| Q4 2015 | +0.3% | — | — | |
| Q3 2015 | -4.5% | — | — | |
| Q2 2015 | +5.2% | — | — | |
| Q1 2015 | +62.5% | — | — | |
| Q4 2014 | -1.5% | — | — | |
| Q3 2014 | +9.3% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | +10.0% | — | — | |
| Q4 2013 | +11.2% | — | — | |
| Q3 2013 | +6.2% | — | — | |
| Q2 2013 | -18.5% | — | — | |
| Q1 2013 | -2.2% | — | — | |
| Q4 2012 | -13.5% | — | — | |
| Q3 2012 | -8.7% | — | — | |
| Q2 2012 | +0.5% | — | — | |
| Q4 2011 | +26.9% | — | — | |
| Q4 2010 | +26.9% | — | — | |
| Q4 2009 | +26.9% | — | — | |
| Q1 2012 | -3.3% | — | — | |
| Q3 2011 | -10.9% | — | — | |
| Q2 2011 | -4.1% | — | — | |
| Q1 2011 | -4.2% | — | — | |
| Q2 2010 | +1.8% | — | — |
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