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Diana Shipping (DSX) investor relations material
Diana Shipping Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income for Q3 2025 was $7.2 million, nearly doubling year-over-year, with strong operational performance, high fleet utilization, and improved charter rates despite a smaller fleet and earlier market softness.
For the nine months ended September 30, 2025, net income was $14.7 million, compared to $3.0 million in the same period of 2024.
Declared a quarterly cash dividend of $0.01 per share for Q3 2025, with cumulative payout since 2021 reaching $2.69 per share.
Maintained a strong cash position of $133.9 million as of September 30, 2025, with net debt/market value at 54%.
Continued focus on fleet renewal, ESG initiatives, and disciplined chartering strategy to ensure earnings visibility and resilience.
Financial highlights
Q3 2025 time charter revenues were $51.9 million, down from $57.5 million year-over-year due to vessel sales; nine-month revenues were $161.5 million, down from $171.1 million.
Adjusted EBITDA was $20.3 million for Q3 2025, compared to $23.7 million in Q3 2024; for the nine months, $65.7 million versus $71.8 million year-over-year.
Diluted EPS was $0.05 for Q3 2025, up from zero in Q3 2024.
Cash reserves at quarter end were $133.9 million, down from $207.2 million at year-end 2024, reflecting strategic investments.
Long-term debt and finance liabilities stood at $651.1 million as of September 30, 2025, up from $637.5 million at year-end 2024.
Outlook and guidance
Projected 2025 revenues may not fully cover break-even, but 2026 outlook is positive with expected cash flow profitability.
Contracted revenues secured for 87% of remaining 2025 days and 50% of 2026 days, totaling $25.4 million and $118.3 million respectively as of November 12, 2025.
Only 13% of 2025 days remain unfixed, supporting earnings visibility; average contract duration is 1.17 years.
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