United Maritime reported strong financial results for Q1 2024 and announced strategic fleet developments

From GlobeNewswire: 2024-05-24 09:00:00

United Maritime Corporation (“United”) reported strong financial results for Q1 2024. Net Revenues increased to $10.6 million from $2.8 million in Q1 2023. Net Loss decreased to $1.3 million from $4.9 million in the same period. Adjusted EBITDA improved to $3.7 million from a negative $1.5 million. A dividend of $0.075 per share was declared.

In addition to its financial performance, United announced several key developments. The company agreed to acquire a 2016-built Japanese Kamsarmax and sell a 2010-built Chinese Kamsarmax at a profit. United also secured a new $18.0 million sale and leaseback arrangement, reflecting total financings of $31.8 million year-to-date. The Company’s fleet stood at 8 dry bulk vessels with a total carrying capacity of approximately 1 million dwt.

Stamatis Tsantanis, United’s Chairman & CEO, highlighted a strong start in the dry bulk market for Q1, with positive results particularly in the Capesize segment. The Company’s focus on larger vessels and favorable capital structure is expected to capitalize on the positive market conditions. United remains optimistic about rewarding shareholders in the future due to the encouraging market outlook and strategic fleet development decisions.



Read more at GlobeNewswire:: United Maritime Reports First Quarter 2024 Financial