ATHENS, Greece, March 04, 2026 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $7.6 million for the fourth quarter of 2025, compared to a net income of $9.7 million for the same period in 2024. Earnings per share, basic and diluted, for the fourth quarter of...
ATHENS, Greece, March 04, 2026 (GLOBE NEWSWIRE) -- Performance Shipping Inc. (NASDAQ: PSHG) (“we” or the “Company”), a global shipping company specializing in the ownership of tanker vessels, today reported net income of $7.6 million for the fourth quarter of 2025, compared to a net income of $9.7 million for the same period in 2024. Earnings per share, basic and diluted, for the fourth quarter of 2025 were $0.57 and $0.19, respectively. Revenue was $26.2 million ($24.6 million net of voyage expenses) for the fourth quarter of 2025, compared to $21.7 million ($19.8 million net of voyage expenses) for the same period in 2024. This increase was mainly attributable to the increase in ownership days following the delivery of the newbuilding vessels P. Massport and P. Tokyo in July and September 2025, respectively. Fleetwide, the average TCE rate for the fourth quarter of 2025 was $32,221, compared with an average rate of $32,652 for the same period in 2024. During the fourth quarter of 2025, net cash provided by operating activities was $9.7 million, compared with net cash provided by operating activities of $12.1 million for the fourth quarter of 2024. Net income for the year ended December 31, 2025, amounted to $50.0 million, compared to a net income of $43.7 million for the year ended December 31, 2024. Earnings per share, basic and diluted, for the year ended December 31, 2025, were $3.87 and $1.28, respectively, while earnings per common share, basic and diluted, for the year ended December 31, 2024 were $3.39 and $1.11, respectively. Commenting on the results of the fourth quarter of 2025, Andreas Michalopoulos, the Company’s Chief Executive Officer, stated: “Fiscal year 2025 represented another solid year for our Company. We generated revenues of $84.2 million, with a daily time charter equivalent (TCE) rate of $31,246, modestly below the strong results of 2024, when revenues reached $87.4 million and the TCE rate was $32,954. We nevertheless continued to deliver...