Overview

* Performance Shipping Q2 2025 revenue falls 12% yr/yr due to fleet reduction

* Net income for Q2 2025 declines 11% yr/yr amid geopolitical tensions

* Co achieves higher TCE rates despite operating a smaller fleet

Outlook

* Performance Shipping ( PSHG ) aims to acquire a younger, competitive fleet

* Company raised $100 mln for fleet expansion

* Crude tanker demand supported by increased OPEC+ exports

* Product tanker demand expected to decline in 2025

Result Drivers

* FLEET REDUCTION - Revenue decline attributed to fewer ownership days following vessel sale

* HIGHER TCE RATES - Achieved average TCE rate of $32,295, up from $30,970 in prior year

* GEOPOLITICAL TENSIONS - Market volatility in June due to Middle East tensions, per CEO Andreas Michalopoulos

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $18.14

Revenue mln

Q2 EPS $0.23

Q2 Net $9.07

Income mln

Q2 Basic $0.69

EPS

Q2 $4.57

Vessel mln

Operatin

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Performance Shipping Inc ( PSHG ) is $5.75, about 69.3% above its July 29 closing price of $1.77

* The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 2 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)