Diana Shipping's Q1 net income surges on equity gains

Diana Shipping

28/05/2026 13:45

Overview
Greece-based dry bulk shipper's Q1 net income surged yr/yr, driven by gains on equity securities
Time charter revenue was nearly flat yr/yr, reflecting fewer ownership days after vessel sale
Company declared a $0.01 per share dividend for Q1 2026

Outlook
Company did not provide specific guidance or outlook for the current or future periods

Result Drivers
HIGHER CHARTER RATES - Co said higher average charter rates partially offset revenue lost from fewer ownership days
IMPROVED FLEET UTILIZATION - Co said improved fleet utilization helped support revenue
HIGHER OPERATING EXPENSES - Daily vessel operating expenses rose to $6,009 from $5,866 a year earlier

Company press release: ID:nGNX2QwY2x

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Time Charter Revenue
 
$54.74 mln
 
Q1 Net Income
Beat
$29.15 mln
$3.38 mln (1 Analyst)
Q1 Basic EPS
 
$0.25
 
Q1 Operating Income
 
$11.30 mln
 
Q1 Vessel Operating Expenses
 
$19.47 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy"
Wall Street's median 12-month price target for Diana Shipping Inc is $2.85, about 13.1% above its May 27 closing price of $2.52
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 10 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)