Performance Shipping Inc. Reports Financial Results for the Third Quarter and Nine-Months Ended September 30, 2024
Performance Shipping Inc. - Common Shares (PSHG)
Company Research
Source: GlobeNewswire
ATHENS, Greece, Nov. 07, 2024 (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 $12.4 million and net income attributable to common stockholders of $12.0 million for the third quarter ended September 30, 2024. These results are compared to a net income of $10.4 million and net income attributable to common stockholders of $9.9 million for the same period in 2023. Earnings per share, basic and diluted, for the third quarter of 2024 were $0.96 and $0.32, respectively. Revenue was $22.9 million ($22.1 million net of voyage expenses) for the third quarter of 2024, compared to $24.1 million ($23.4 million net of voyage expenses) for the same period in 2023. This decrease was attributable to the decrease in the ownership days following the sale of the vessel P. Kikuma in December 2023, partially offset by the increase in time-charter equivalent rates
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