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Earnings Call Summary | Diana Shipping(DSX.US) Q1 2024 Earnings Conference

Futu News ·  May 29 03:02  · Conference Call

The following is a summary of the Diana Shipping Inc. (DSX) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Diana Shipping reported Q1 2024 time charter revenues of approximately $58 million, up from $52.6 million in Q1 2023.

  • EBITDA for Q1 2024 was down to $27.8 million from $45.9 million in the same quarter of the previous year.

  • The company's net income was substantially lower at $2.1 million compared to $22 million in Q1 2023.

Business Progress:

  • The company executed a contract for the acquisition of two new-building Kamsarmax dry bulk vessels in Q1 2024, each for a purchase price of $46 million.

  • They sold the Motor Vessel Houston to an independent third party, and increased investments in its joint venture entity, Windward Offshore.

  • Diana Shipping also declared a Q1 2024 cash dividend of $0.075 per common share, totaling roughly $9.1 million.

More details: Diana Shipping IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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