Castor Maritime Inc. reports net income for first quarter

Earnings Highlights of the First Quarter Ended 31 March 2024:

• Total vessel revenues from continuing operations: US$20.4 million for the three months ended 31 March 2024, as compared to US$24.5 million for the three months ended 31 March 2023, or a 16.7% decrease.
• Net income from continuing operations of US$22.3 million for the three months ended 31 March 2024, as compared to net loss from continuing operations of US$6.5 million for the three months ended 31 March 2023, or a 443.1% increase.
• Net income of US$22.3 million for the three months ended 31 March 2024, as compared to net income of US$10.8 million for the three months ended 31 March 2023, or a 106.5% increase.
• Earnings / (loss) per common share, basic from continuing operations: US$2.23 per share for the three months ended 31 March 2024, as compared to US$(0.69) per share for the three months ended 31 March 2023.
• EBITDA from continuing operations: US$26.8 million for the three months ended 31 March 2024, as compared to US$1.6 million for the three months ended 31 March 2023.
• Adjusted EBITDA from continuing operations: US$16.9 million for the three months ended 31 March 2024, as compared to US$9.3 million for the three months ended 31 March 2023.
• Cash and restricted cash from continuing operations of US$165.2 million as of 31 March 2024, as compared to US$120.9 million as of 31 December 2023.

For the full breakdown of the quarterly results follow this link here.