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Pyxis Tankers (PXS) investor relations material
Pyxis Tankers Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strongest quarterly performance in seven quarters, driven by high fleet utilization and improved rates across both product tankers and dry bulk segments.
Net income for Q2 2026 was $2.8M, reversing a net loss of $2.0M in Q2 2025.
Revenues for Q2 2026 rose 32.6% year-over-year to $12.1M, driven by higher charter rates and utilization.
Adjusted EBITDA for Q2 2026 increased to $6.5M from $1.2M in Q2 2025, up 443% year-over-year.
Founder-led platform with 58.7% CEO ownership, emphasizing alignment and disciplined capital allocation.
Financial highlights
Q2 2026 net income of $2.8M and EPS of $0.27, compared to a loss of $2.0M and $(0.19) in Q2 2025.
Q2 2026 revenues: $12.1M, up from $9.2M in Q2 2025.
Adjusted EBITDA for six months ended June 30, 2026: $11.9M, up from $4.7M in 2025.
Total liquidity reached ~$103M as of June 30, 2026, including $58.2M cash and $45M undrawn facility.
Net leverage remains low; total funded debt at $83.2M as of June 30, 2026.
Outlook and guidance
87% of Q3 available days already fixed at higher rates, with total fleet days fixed at $22,250/day (+5.6% vs Q2 average).
MR tanker fleet fully contracted for Q3 at $22,000/day; dry-bulk fleet 75% contracted at $22,600/day.
Management expects some moderation in freight premiums but sees continued support from refinery margins, trade dislocation, and inventory replenishment.
Disciplined capital allocation and focus on long-term shareholder value remain priorities.
- 7% Series B preferred shares combine high yield, asset protection, and conversion upside.PXS
Company presentation - Offering 800,000 Series B Preferred Shares at $25 each, convertible, 7% yield, for fleet growth.PXS
Registration filing - Offering 800,000 Series B Preferred Shares at $25.00 each, convertible, with a 7% yield and proceeds for fleet growth.PXS
Registration filing - Offering 800,000 shares of 7% convertible preferred stock to support disciplined fleet growth.PXS
Registration filing - Q1 2026 net income surged 216% to $2.4M, with robust liquidity and high fleet utilization.PXS
Q1 2026 - Q4 2025 saw strong results, high utilization, and robust liquidity supporting expansion plans.PXS
Q4 2025 - Disciplined growth, strong liquidity, and a modern fleet support expansion amid resilient markets.PXS
Company presentation - Q3 2024 revenue and net income rose, with strong tanker markets and expanded fleet.PXS
Q3 2024 - Q2 net income rose to $5.3M on strong TCE rates, expanded fleet, and positive sector outlook.PXS
Q2 2024
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