SHIP PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d ⚠ clustered

SHIP ▲ +10.04% at T+5d

LONG call ✓ call won +10.04% · α vs SPY +10.08% · entry $14.15 → $15.57

Next anchor: T+20d in 16d

Last close $15.41 (close Jun 8) · +8.90% from $14.15 entry

Entry anchored
May 27, 03:59 PM ET
via Databento tick

T+1d

+9.54%

call +9.54% · α +9.30%

$15.50

settled 12d ago

T+5d

+10.04%

call +10.04% · α +10.08%

$15.57

settled 6d ago

T+20d

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call — · α —

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in 16d

T+60d

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call — · α —

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in 2mo

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Executive Summary

Seanergy Maritime reported a strong Q1 2026 beat with GAAP EPS of $0.45 (vs $0.39 consensus) and net revenues of $42.9M (+77% YoY), driven by a 81% jump in fleet TCE to $24,219/day. The company also declared its 18th consecutive $0.20 quarterly dividend, guided Q2 TCE to ~$31,430/day (83% fixed), and expanded its fleet renewal program to six newbuildings with $237M in new debt financing already arranged.

Actionable Insight

The Q2 TCE guidance of ~$31,430/day implies a significant sequential acceleration from Q1's $24,219, providing strong near-term earnings visibility. With 83% of Q2 days already fixed and a $460M fleet renewal program funded by $237M in new debt, watch for continued chartering momentum and potential upside from the remaining 17% of spot-exposed days. The 18th consecutive dividend signals management confidence in cash flow sustainability.

Key Facts

GAAP EPS of $0.45 beat consensus of $0.39 by 15.4%; adjusted EPS of $0.63
Net revenues of $42.9M (+77% YoY) vs consensus $42.6M
Adjusted EBITDA of $28.1M, up 251% YoY
Fleet TCE of $24,219/day, 81% higher YoY and 6% above BCI-180 average
Q2 2026 TCE guidance of ~$31,430/day (83% of days already fixed)
18th consecutive quarterly dividend of $0.20/share declared
Fleet renewal program expanded to six newbuildings ($460M total); $237M in new debt financing agreed
Sale of M/V Squireship for $29.5M expected to generate ~$13.4M net liquidity
Cash and restricted cash of $68.8M; stockholders' equity of $289.3M

Financial Impact

EPS beat of $0.06 (15.4%) on consensus $0.39; revenue beat of $0.3M (0.7%); adjusted EBITDA up 251% YoY to $28.1M

revenueepsebitdatcedividend

Risk Factors

Dry bulk shipping rates are cyclical and sensitive to global trade volumes, iron ore demand, and geopolitical disruptions
Fleet renewal program requires $460M in total capex; any cost overruns or delays at shipyards could pressure liquidity
Approximately 17% of Q2 days remain exposed to spot rates, creating guidance uncertainty
Related-party vessel sale (Squireship to United) may raise governance concerns despite special committee approval

Market Snapshot

Exchange

Nasdaq

Sector

Deep Sea Foreign Transportation of Freight

Analyst Consensus

90% bullish (10 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3302901

5 reports for SHIP

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for SHIP — sortable, filterable
	Type				Now
May 28, 2026 12d ago	Press Release BULLISH ★ 7/10	$14.15 $15.57	▲ +10.04%	▲ +10.08%	$15.41 (+8.90%)
May 26, 2026 14d ago	Press Release BULLISH ★ 6/10	$15.21 $16.39	▲ +7.76%	▲ +6.67%	$15.41 (+1.31%)
Apr 1, 2026 9w ago	6-K NEUTRAL ★ 2/10	$14.00 $14.34	▲ +2.43%	▼ −1.19%	$15.41 (+10.07%)
Apr 1, 2026 9w ago	Press Release NEUTRAL ★ 3/10	$13.55 $13.95	▲ +2.95%	▼ −0.81%	$15.41 (+13.73%)
Mar 12, 2026 12w ago	Press Release MIXED ★ 6/10	$12.48 $12.56	▲ +0.71%	▲ +1.69%	$15.41 (+23.52%)

US Market Status

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