Greece's Pyxis Tankers Q1 net income rises on higher dry-bulk charter rates

Pyxis Tankers

18/05/2026 21:18

Overview

Greece shipping firm's Q1 revenue grew 3.9% yr/yr, net income rose sharply

Adjusted EBITDA for Q1 increased yr/yr, driven by improved utilization and lower operating expenses

Company continued share repurchases, reducing common shares outstanding

Outlook

Company says shipping market fundamentals remain constructive, supported by longer-haul trade patterns

Company has 100% of MR tanker days booked for Q2 2026 at about $21,850/day TCE rate

Company has about 46% of dry-bulk days booked for Q2 2026 at about $19,130/day TCE rate

Result Drivers

DRY-BULK GAINS - Higher charter rates, improved utilization, and bunker price differentials drove dry-bulk fleet revenue growth

MR TANKER UTILIZATION - Higher utilization offset lower charter rates for MR tankers

LOWER OPERATING EXPENSES - Vessel operating expenses per day fell due to timing of maintenance and spares

Company press release: ID:nGNX8P78v1

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$10 mln
$11.05 mln (1 Analyst)
Q1 Net Income
$2.40 mln
Q1 Adjusted EBITDA
Beat
$5.40 mln
$4.85 mln (1 Analyst)
Q1 Vessel Operating Expenses
$3.30 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the marine freight & logistics peer group is "buy"

Wall Street's median 12-month price target for Pyxis Tankers Inc is $10.00, about 129.9% above its May 15 closing price of $4.35

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)