NASDAQ$USEA
United Maritime Corp · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
United Maritime returned to Q3 profit on $11M net revenue and declared a $0.09 dividend
United Maritime Corporation reported third quarter 2025 net revenues of $11.0 million versus $11.6 million a year earlier, with net income of $1.1 million compared to a $0.9 million loss in Q3 2024. Adjusted net income was $1.6 million and adjusted EBITDA was $5.4 million as fleet TCE averaged $15,093 per day. The company declared a $0.09 quarterly cash dividend, its 12th consecutive payout, and completed the sale of two older Capesize vessels that released roughly $18.8 million in liquidity after debt repayment. Cash and restricted cash totaled $20.1 million at September 30 while shareholders' equity stood at $61.1 million.
- Q3 net revenues were $11.0 million with net income of $1.1 million versus a $0.9 million loss in Q3 2024.
- Adjusted EBITDA was $5.4 million and fleet TCE averaged $15,093 per day with 99.1% utilization.
- Board declared a $0.09 quarterly dividend payable in January 2026, the 12th consecutive distribution.
- Sale of M/V Tradership and M/V Goodship released approximately $18.8 million in net liquidity after debt repayment.
- Management guided Q4 TCE to approximately $15,038 with about 62% of operating days fixed at $14,881 per day.
Headline financials
Revenue & EPS history
United Maritime · Revenue · Quarterly
$11M
Forward guidance
For Q4 2025, United guided overall TCE to approximately $15,038 assuming index-linked charters track the November 7 FFA curve, with about 62% of expected operating days already fixed at roughly $14,881 per day.
Tailwinds
- Panamax/Kamsarmax market outlook remains favorable with modest orderbook and aging fleet supply constraints
- Three new index-linked time charters secured with leading counterparties
Headwinds
- Nine-month net loss of $2.4 million reflects weaker year-to-date TCE versus 2024
- Fleet transition away from Capesize reduced average TCE versus prior-year mix
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 14 quarterly earnings reports · overlaid with Q3 2025
-0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+4.2%
Avg return
30 days after
64%
9 / 14 earnings
Positive
+8.4%
Q4 2022
Best reaction
-12.8%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +3.0% | -2.5% | +3.4% | |
| Q3 2025 | +2.9% | +1.6% | +20.3% | |
| Q2 2025 | +0.8% | -1.3% | +5.7% | |
| Q1 2025 | +2.4% | -3.9% | +18.1% | |
| Q4 2024 | -12.8% | -20.2% | -36.7% | |
| Q3 2024 | -5.3% | -2.9% | -11.0% | |
| Q2 2024 | +0.8% | +0.8% | +5.6% | |
| Q1 2024 | +2.2% | -2.0% | -4.0% | |
| Q4 2023 | -9.5% | -4.9% | -1.1% | |
| Q3 2023 | +8.3% | +14.6% | +26.3% | |
| Q2 2023 | -3.1% | -1.2% | -7.2% | |
| Q1 2023 | -0.7% | +11.1% | +1.5% | |
| Q4 2022 | +8.4% | +12.1% | -1.7% | |
| Q3 2022 | +0.3% | +3.8% | +39.8% |
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