Genco Shipping & Trading (GNK) Q3 FY2026 earnings: revenue $152 million, up 90.0% on the year

Genco Shipping & Trading Ltd. (GNK) reported revenue of $152 million for Q3 FY2026, the quarter ended 30 September 2026, up 90.0% on the same quarter a year earlier. Net income was $38 million, and diluted earnings per share $0.85. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$152 million

+90.0% on the year · +11.3% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

29.1%

3.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

$38 million

+128.3% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.85

+129.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 lowered, 3 new, 4 kept.

Quarterly net income rose to $38.0 million: The company reported diluted EPS of $0.85 on net income of $38.0 million, against a net loss of $1.1 million a year earlier. Adjusted net income was $39.2 million, or $0.88 diluted EPS.
Adjusted EBITDA up 214% year on year: Adjusted EBITDA was $68.1 million, up from $21.7 million. Management attributed the higher voyage revenues of $151.9 million to higher rates on major and minor bulk vessels, a larger fleet and fewer drydocking days.
Q4 TCE to date at $30,102: Estimated net TCE for fourth-quarter fixtures to date is $30,102 per day, covering 66% of owned fleet available days. Newcastlemax and Capesize is $40,187, with 64% fixed; Ultramax and Supramax is $22,145, with 67% fixed.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	152	136	79.9	+11.3%	+90.0%
Operating income	44.3	21.8	2.5	+103.4%	+1,693.7%
Operating margin	29.1%	15.9%	3.1%
Interest expense	6.4	5.8	3.2	+10.9%	+102.4%
Net income	38.0	16.6	-1.1	+128.3%
Net margin	25.0%	12.2%	-1.3%
Diluted EPS	$0.85	$0.37	-$0.02	+129.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	66.5	33.2	7.7	+100.0%	+764.7%
Capital expenditure	1.1	0.7	1.2	+47.6%	-9.1%
Free cash flow	65.4	32.5	6.5	+101.2%	+902.2%
Free cash flow margin	43.1%	23.8%	8.2%
Cash from investing	-59.9	1.1	-11.1
Cash from financing	14.4	-15.5	57.6		-75.0%
Depreciation and amortisation	23.4	22.4	19.3	+4.4%	+21.0%
Share-based compensation	2.2	2.2	1.9	-2.6%	+14.0%
Dividends paid	34.9	15.3	6.4	+128.6%	+441.0%
Dividend per share	$0.80	$0.35	$0.15	+128.6%	+433.3%
Diluted shares, weighted	45m	45m	43m	+0.1%	+2.8%
Shares outstanding at period end	44m	44m	43m	0.0%	+0.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	893	889	886	+0.5%	+0.8%
Non-controlling interest	1.0	1.7	1.4	-39.3%	-27.4%
Debt	370	320	158	+15.9%	+133.6%
Operating lease liabilities	5.8	5.7	5.5	+1.4%	+5.7%
Other liabilities	62.6	45.9	56.4	+36.3%	+11.0%
Total liabilities and equity	1,333	1,261	1,108	+5.6%	+20.3%
Fixed assets	7.6	7.1	8.0	+6.3%	-4.9%
Cash and equivalents	94.6	73.6	90.0	+28.6%	+5.2%
Receivables	24.0	26.7	13.9	-10.2%	+72.0%
Inventory	29.0	25.5	21.5	+13.4%	+34.5%
Other assets	1,177	1,128	974	+4.4%	+20.9%
Total assets	1,333	1,261	1,108	+5.6%	+20.3%

Questions

What was Genco Shipping & Trading's revenue in Q3 FY2026?

Genco Shipping & Trading (GNK) reported revenue of $152 million for Q3 FY2026, the quarter ended 30 September 2026, up 90.0% on the same quarter a year earlier.

How much did Genco Shipping & Trading earn in Q3 FY2026?

Net income for Q3 FY2026 was $38 million, and diluted earnings per share $0.85.

When did Genco Shipping & Trading report Q3 FY2026 results?

Genco Shipping & Trading filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	183	136	138	136	127	94.4	90.6	83.4	116	117	107	99.3	99.2	71.3	80.9	79.9	110	114	136	152
Operating income	93.2	42.1	49.2	45.2	30.8	4.4	13.0	-30.4	7.0	22.1	26.3	24.0	14.6	-9.8	-4.3	2.5	19.0	13.3	21.8	44.3
Operating margin	51%	31%	36%	33%	24%	5%	14%	-36%	6%	19%	25%	24%	15%	-14%	-5%	3%	17%	12%	16%	29%
Interest expense	2.4	2.2	2.4	2.3	2.2	2.0	2.1	2.0	2.6	4.0	3.5	3.0	2.8	2.5	2.6	3.2	4.0	4.5	5.8	6.4
Net income	90.9	41.7	47.4	40.8	28.7	2.6	11.6	-32.0	4.9	18.8	23.5	21.5	12.7	-11.9	-6.8	-1.1	15.4	9.3	16.6	38.0
Net margin	50%	31%	34%	30%	23%	3%	13%	-38%	4%	16%	22%	22%	13%	-17%	-8%	-1%	14%	8%	12%	25%
Diluted EPS	$2.13	$0.97	$1.10	$0.95	$0.67	$0.06	$0.27	-$0.75	$0.11	$0.43	$0.54	$0.49	$0.29	-$0.28	-$0.16	-$0.02	$0.35	$0.21	$0.37	$0.85
Operating cash flow	96.1	52.6	46.6	54.3	35.9	19.6	19.4	13.2	39.6	32.3	29.0	35.6	30.0	2.9	5.4	7.7	15.9	15.7	33.2	66.5
Capital expenditure	0.7	1.5	0.4	1.0	0.6	1.1	0.7	0.4	0.5	0.2	1.1	0.9	0.7	0.7	1.1	1.2	0.3	0.4	0.7	1.1
Free cash flow	95.4	51.1	46.2	53.3	35.2	18.5	18.7	12.9	39.1	32.0	27.9	34.7	29.3	2.2	4.3	6.5	15.6	15.3	32.5	65.4
Dividends paid	6.3	28.3	33.3	21.1	33.0	21.7	6.5	6.4	6.4	17.9	18.0	14.5	17.1	13.4	6.4	6.4	6.5	22.6	15.3	34.9
Shares outstanding	42m	42m	42m	42m	42m	43m	43m	43m	43m	43m	43m	43m	43m	43m	43m	43m	43m	44m	44m	44m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.