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
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