Nov. 14 at 5:04 PM
Noble Capital Markets Research Report: Seanergy Maritime (
$SHIP) – Third Quarter Results Exceed Expectations; Increasing Estimates
Third quarter results. Seanergy generated third quarter net revenue of
$47.0 million compared to
$44.4 million during the prior year period and above our
$45.1 million estimate. Relative to the third quarter of 2024, revenue growth was driven by an expanded fleet, an increase in operating days, and higher fleet utilization. Third quarter time charter equivalent (TCE) rates and fees from related parties were above our estimates. Operating expenses were in line with expectations, resulting in adjusted EBITDA of
$26.6 million and EPS of
$0.67, respectively, both ahead of our
$25.0 million and
$0.50 estimates, respectively.
Read more: https://www.channelchek.com/news-channel/seanergy-maritime-ship-third-quarter-results-exceed-expectations-increasing-estimates