Diana Shipping Inc. reported fourth‑quarter 2025 results that included a net income of $3.1 million and earnings per share of $0.02, while time‑charter revenue fell to $52.1 million. The company’s full‑year 2025 net income rose to $17.8 million and EPS climbed to $0.11, reflecting a 40% increase in year‑to‑year earnings.
The quarter’s revenue miss—$52.1 million versus analyst consensus of $52.85 million to $54 million—was driven by the sale of two vessels and an increase in dry‑docking days that reduced charter capacity. The company’s EPS beat expectations by $0.02, outperforming the consensus estimate of a $0.0051 loss, largely due to disciplined cost management and a favorable mix of charter contracts that offset the revenue shortfall.
Comparing to the prior year, Q4 2024 net income was $9.7 million and EPS was $0.07 basic, indicating a 68% decline in earnings for the quarter. However, the full‑year 2025 net income and EPS outperformed the 2024 figures of $12.7 million and $0.06, respectively, showing that the company’s overall profitability improved despite the quarterly dip.
Management highlighted that the fleet reduction and maintenance schedule were intentional steps toward a more efficient, modernized fleet, which should support higher charter rates in the medium term. The company also confirmed a $0.01 per share cash dividend to be paid on March 18, 2026, with a record date of March 11.
Market reaction to the results was cautiously negative, with analysts noting that the revenue miss outweighed the EPS beat. Investors expressed concern about the company’s top‑line performance and the broader dry‑bulk shipping market’s demand uncertainty, leading to a modest decline in market sentiment.
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