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Pyxis Tankers (PXS) investor relations material
Pyxis Tankers Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary8 Aug, 2025
Executive summary
Q2 2025 revenues were $9.2M, down 28–34% year-over-year, with a net loss of $1.9–$2.0M ($0.19 EPS), impacted by one-off G&A expenses and softer chartering conditions.
Adjusted EBITDA was $1.2M, a decrease of $6.8M from Q2 2024, reflecting challenging market dynamics in both product tanker and dry bulk sectors.
Results were impacted by a $3.5M decline in TCE revenues and a $2.9M increase in G&A expenses, mainly due to a non-recurring long-term performance bonus.
Both product tanker and dry-bulk segments experienced lower charter rates due to subdued global economic activity.
The company maintains a solid balance sheet with significant liquidity and leverage, positioning it for opportunistic fleet expansion.
Financial highlights
Net revenues for Q2 2025 were $9.2M, down from $13.9M in Q2 2024; six-month revenues were $18.8M, down from $25.7M year-over-year.
Net loss for Q2 2025 was $1.9–$2.0M, compared to net income of $5.0–$5.3M in Q2 2024; six-month net loss was $1.4M versus $8.9M net income year-over-year.
Adjusted EBITDA for Q2 2025 was $1.2M, down from $8.0M in Q2 2024; six-month Adjusted EBITDA was $4.7M, down from $14.0M.
MR2 tankers reported an average daily TCE of $20,686, while dry bulkers averaged $12,840 in Q2 2025.
Cash and cash equivalents (including restricted and time deposits) totaled $42.8M as of June 30, 2025.
Outlook and guidance
As of August 7, 2025, 91% of MR available days for Q3 are booked at an estimated average TCE of $21,600/day; 66% of Q3 days for dry bulkers are booked at $15,250/day.
Chartering environment for both product tankers and dry-bulk carriers expected to remain challenging for the rest of 2025.
Modest growth in global seaborne cargo demand anticipated, with normalization of ton-mile activity.
Company plans to expand fleet using new $45M bank facility and cash on hand.
EU's $750B energy trade agreement and OPEC+ production cuts reversal seen as potential market tailwinds.
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Next Pyxis Tankers earnings date
2025 ThinkEquity Conference30 Oct, 2025
Next Pyxis Tankers earnings date
2025 ThinkEquity Conference30 Oct, 2025
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Frequently asked questions
Pyxis Tankers Inc. is a maritime transportation company specializing in the transport of refined petroleum products and other liquid bulk cargoes. The company operates a fleet of modern, eco-efficient tankers that primarily serve the global oil trade, transporting products such as gasoline, diesel, and jet fuel. Pyxis focuses on medium-range (MR) tankers, offering shipping solutions to a range of customers including oil majors, refiners, and commodity traders. The company is headquartered in Maroussi, Greece, and its shares are listed on the Nasdaq.
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