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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Seanergy Maritime Holdings
Seanergy Maritime Holdings (SHIP) investor relations material
Seanergy Maritime Holdings Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary30 Jul, 2026
Executive summary
Achieved record Q2 and H1 2026 results, with Q2 net revenue of $55.7M, adjusted EBITDA of $41.5M, adjusted EPS of $1.32, and H1 net revenue of $97.8M, adjusted EBITDA $69.6M, and adjusted EPS $1.96, all up significantly year-over-year, driven by strong Capesize market conditions and disciplined execution.
Declared a $0.35/share dividend, a 75% increase over the previous quarter, marking the 19th consecutive quarterly dividend and $108.4M returned to shareholders since 2021.
Committed $591M to fleet renewal, including $130M for two Japanese-built Capesize vessels for 2029 delivery, and completed the sale of an older vessel.
Completed inaugural €100M unsecured corporate bond in Greece, more than 2x oversubscribed, diversifying funding sources.
Financial highlights
Q2 2026 net revenues increased to $55.7M from $37.5M year-over-year; adjusted EBITDA $41.5M; net income $26.2M, adjusted net income $28.5M; GAAP EPS $1.21, adjusted EPS $1.32.
H1 2026 net revenues $97.8M, adjusted EBITDA $69.6M (up 165% YoY), net income $35.9M, adjusted net income $42M; GAAP EPS $1.67, adjusted EPS $1.96.
TCE for Q2 2026 was $32,355/day and $28,244/day for H1 2026, up 63% and 69% YoY, respectively.
Operating cash flow margin approximately 44%; adjusted EBITDA margin about 70%.
Ended Q2 with $59.5M in cash and restricted cash, despite $73M invested in fleet renewal during H1.
Outlook and guidance
Capesize market outlook for H2 2026 remains constructive, supported by resilient commodity demand, constrained fleet supply, and forward fixed-rate charter coverage.
Approximately 55% of H2 2026 ownership days fixed at $30,800/day, providing earnings visibility and downside protection.
Q3 2026 TCE guidance is $31,000/day, with about 71% of available days already fixed.
Full-year 2026 EBITDA projected at ~$138M under current FFA scenario, with further upside in stronger markets.
Fleet renewal program is fully funded, supporting earnings capacity from 2027 onward.
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Latest events from Seanergy Maritime Holdings
- FY23 TCE beat the BCI by 7%, with $53.0m Adjusted EBITDA.SHIP
Q4 2023 - Executing a $460m fleet renewal, delivering strong returns and ESG leadership in Capesize shipping.SHIPCorporate presentation
- Q1 2026 delivered strong revenue and earnings growth, with expanded fleet renewal and dividend continuity.SHIPQ1 2026
- Modern Capesize fleet, strong financials, and ESG focus drive growth and shareholder value.SHIPCorporate presentation
- Strong 2025 results, eco fleet renewal, and robust Capesize market outlook drive value.SHIPQ4 2025
- Up to $300 million in securities, including $24.9 million ATM shares, to support fleet growth and capital needs.SHIPRegistration Filing
- Q3 profit surged, capital returns rose, and fleet growth aligns with robust Capesize market trends.SHIPQ3 2024
- Record earnings, higher dividends, and strong Capesize market drive robust 2024 performance.SHIPQ2 2024
- Record 2024 profit, fleet growth, and strong capital returns amid tight Capesize market.SHIPQ4 2024
Next Seanergy Maritime Holdings earnings date
Q3 202612 Nov, 2026
Seanergy Maritime Holdings
Next Seanergy Maritime Holdings earnings date
Q3 202612 Nov, 2026
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Frequently asked questions
Seanergy Maritime Holdings Corp. specializes in the seaborne transportation of dry bulk commodities worldwide. As the only pure-play Capesize shipping company listed in the U.S. capital markets, it operates a fleet comprising 17 vessels, including Capesize and one Newcastlemax ship. These vessels provide an essential service in global trade, primarily by transporting bulk commodities like iron ore and coal across major shipping routes. The company was formerly known as Seanergy Merger Corp. before rebranding to its current name in 2008. The company is headquartered in Glyfada, Greece, and its shares are listed on the NASDAQ.