United Maritime Corp

United Maritime Corp. engages in worldwide seaborne transportation of bulk commodities. It owns Capesize dry bulk vessel. The company was founded on January 20, 2022 and is headquartered in Glyfada, Greece.

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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United Maritime Corp. is an international shipping company, which engages in specializing in worldwide seaborne transportation services. It owns Capesize dry bulk vessel. The company was founded by Stamatios N. Tsantanis on January 20, 2022 and is headquartered in Glyfada, Greece.

__________________________ 1 Adjusted (loss) / earnings per share, Adjusted Net (loss) / income, EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted (loss) / earnings per share, Adjusted Net (loss) / Income, EBITDA and Adjusted EBITDA to net (loss)/ income, the most directly comparable U.S. GAAP measure.

United Maritime Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2024 and Declares Cash Dividend of $0.075 Per Share

Earnings Release: Tuesday, November 26, 2024, Before Market Open in New York Earnings Release: Tuesday, November 26, 2024, Before Market Open in New York

United Maritime Announces the Date for the Third Quarter and Nine Months Ended September 30, 2024, Financial Results

United Maritime Corporation (NASDAQ:USEA ) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman and Chief Executive Officer Stavros Gyftakis - Chief Financial Officer Conference Call Participants Tate Sullivan - Maxim Group Operator Thank you for standing by ladies and gentlemen. And welcome to the United Maritime Corporation Conference Call on the Second Quarter and Six Months Ended the 30th of June 2024, Financial Results.

United Maritime Corporation (USEA) Q2 2024 Earnings Call Transcript

Earnings Release: Tuesday, August 6, 2024, Before Market Open in New York Conference Call and Webcast: Tuesday, August 6, 2024, at 12:00 p.m. Eastern Time

United Maritime Announces the Date for the Second Quarter and Six Months Ended June 30, 2024, Financial Results, Conference Call and Webcast

Highlights     (in million USD except LPS)   Q1 2024 Q1 2023 Net Revenues   $10.6 $2.8 Net Loss   ($1.3) ($4.9) Adjusted Net Loss1   ($1.1) ($3.7) EBITDA1   $3.5 ($2.7) Adjusted EBITDA1   $3.7 ($1.5)         Loss per share Basic & Diluted   ($0.15) ($0.64) Adjusted Loss per share Basic1 & Diluted1   ($0.13) ($0.48) Other Highlights and Developments: Quarterly cash dividend of $0.075 per share declared for Q1 2024 Total cash dividends of $11.4 million, or $1.45 per share, declared since November 2022, representing approximately 46% of United's market capitalization 2 Agreement to acquire a 2016-built Japanese Kamsarmax 3 Agreement to sell a 2010-built Chinese Kamsarmax at a profit A new $18.0 million sale and leaseback arrangement – aggregate financings of $31.8 million year-to-date GLYFADA, Greece, May 24, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the first quarter ended March 31, 2024 and declared a quarterly dividend of $0.075 per share for the first quarter of 2024. For the quarter ended March 31, 2024, the Company generated Net Revenues of $10.6 million compared to $2.8 million in the first quarter of 2023.

United Maritime Reports First Quarter 2024 Financial Results and Declares Quarterly Cash Dividend of $0.075 Per Share

Earnings Release: Friday, May 24, 2024, Before Market Open in New York Earnings Release: Friday, May 24, 2024, Before Market Open in New York

United Maritime Announces the Date for the First Quarter Ended March 31, 2024, Financial Results

Seanergy Maritime Hlds

GLYFADA, GREECE / ACCESSWIRE / April 9, 2024 / Seanergy Maritime Holdings Corp. (NASDAQ:SHIP), a leading player in the global shipping industry, reported a fourth-quarter net profit of $10.8 million, a significant increase from $0.5 million in the previous year. The company's revenue also grew to $39.4 million compared to $28.5 million for the same quarter last year.

Seanergy Maritime (NASDAQ: SHIP) And United Maritime (NASDAQ: USEA) Provide Financial Update To Shareholders

GLYFADA, Greece, April 03, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA) announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (the “Annual Report”) has been filed with U.S. Securities and Exchange Commission. The Annual Report may also be accessed through United's website, www.unitedmaritime.gr, at the “Investors” section under “Annual Reports”.

United Maritime Announces Availability of its 2023 Annual Report on Form 20-F

United Maritime Corporation (USEA) Q4 2023 Earnings Call Transcript

Highlights   Quarterly   Full Year (in million USD except EPS)   Q4 2023 Q4 2022   FY 2023 FY 2022 1 Net Revenues   $11.6  $14.9   $36.1 $22.8 Net (Loss) / Income   ($0.7) $36.5   $0.2 $37.5 Adjusted Net (Loss) / Income2   ($0.6) $39.8   $2.8 $40.9 EBITDA2   $4.4  $38.9   $16.3 $41.8 Adjusted EBITDA2   $4.6  $42.3   $18.9 $45.2               (Loss) / Earnings per Share (EPS) Basic   ($0.08) $4.86    $0.02 $7.79 (Loss) / Earnings per Share (EPS) Diluted   ($0.08) $3.55   $0.02 $4.92  Adjusted (Loss) / Earnings per share Basic2   ($0.07) $5.36   $0.33 $8.54  Adjusted (Loss) / Earnings per share Diluted2   ($0.07) $3.90   $0.33 $5.39    Other Highlights and Developments: Quarterly cash dividend of $0.075 per share declared for Q4 2023, an 11% annualized dividend yield 3 Total cash dividends of $10.7 million, or $1.375 per share, declared since November 2022 representing approximately 45% of United's market capitalization 3 Total buybacks of approximately $6.7 million in common shares at an average price of $1.87 per share since Q3 2022 Total investments of $144 million 4 in 2023 for the acquisition of seven dry bulk vessels and $37.5 million proceeds from the sale of our last tanker vessel $30.0 million in refinancings completed in Q4 2023 adding $6.8 million in extra liquidity, with another $13.8 million sale and leaseback agreed in Q1 2024 Agreement to acquire a modern Japanese Kamsarmax, through an 18-month bareboat charter with purchase option GLYFADA, Greece, Feb. 20, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the fourth quarter and twelve months ended December 31, 2023. The Company also declared a quarterly cash dividend of $0.075 per common share for the fourth quarter of 2023.

United Maritime Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2023 and Declares Cash Dividend of $0.075 Per Share

Earnings Release: Tuesday, February 20, 2024, Before Market Open in New York Conference Call and Webcast: Tuesday, February 20, 2024, at 10:00 a.m. Eastern Time

United Maritime Announces the Date for the Fourth Quarter and Year Ended December 31, 2023, Financial Results, Conference Call and Webcast

GLYFADA, GREECE / ACCESSWIRE / December 19, 2023 / In the third quarter, Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) faced challenges, reporting Net Revenues of $24.5 million and an Adjusted Net Loss of $2.6 million, primarily due to the underperformance of the dry bulk Capesize market. Market conditions were influenced by historically low port congestion and the efficient utilization of the Capesize fleet, leading to an excess supply of vessels.

Seanergy Maritime (NASDAQ: SHIP) Is Optimistic About The Future; United Maritime (NASDAQ: USEA) Posts Profit Surge for 3Q23, Both Companies Extend Shareholder Rewards

United Maritime Corporation (NASDAQ:USEA ) Q3 2023 Results Conference Call November 15, 2023 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman and Chief Executive Officer Stavros Gyftakis - Chief Financial Officer Conference Call Participants Tate Sullivan - Maxim Group Operator Thank you for standing by ladies and gentlemen. And welcome to the United Maritime Corporation Conference Call on the Third Quarter Ended September 30, 2023, Financial Results.

United Maritime Corporation (USEA) Q3 2023 Earnings Call Transcript

Highlights (in million USD, except EPS) Q3 2023 Q3 2022 9M 2023 From January 20, 2022 (date of inception) to September 30, 2022 Net Revenues $11.7 $7.9 $24.5 $7.9 Net income $8.9 $1.0 $0.9 $1.0 Adjusted net income1 $9.2 $1.0 $3.4 $1.0 EBITDA1 $13.5 $2.9 $11.9 $2.9 Adjusted EBITDA1 $13.8 $2.9 $14.4 $2.9           Earnings per share Basic1 $1.00 $0.12 $0.10 $0.24 Earnings per share Diluted1 $0.91 $0.09 $0.09 $0.14 Adjusted earnings per share Basic1 $1.03 $0.12 $0.40 $0.24 Adjusted earnings per share Diluted1 $0.95 $0.08 $0.35 $0.13 Other Highlights and Developments: Quarterly cash dividend of $0.075 per share for Q3 2023 Total cash dividends of $10.0 million, or $1.30 per share, declared since November 2022 reflecting a cash yield of 63% 2 Sale of the Company's remaining LR2 tanker vessel at a premium of more than 85% over the vessel's acquisition price, recording an accounting gain of $11.8 million Delivery of two Panamax vessels and commencement of time-charter (“T/C”) contracts Share buybacks worth about $0.4 million since the beginning of Q3 2023, nearly maximizing possible amount given share liquidity   Total buybacks of approximately 3.5 million common shares at an average price of $1.87 since Q3 2022 Secured $30.0 million sale and leaseback financing from a new lender to proactively address upcoming loan maturities and enhance liquidity position GLYFADA, Greece, Nov. 15, 2023 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the third quarter and nine months ended September 30, 2023. The Company also declared a quarterly dividend of $0.075 per common share for the third quarter of 2023.

United Maritime Reports Strong Profit for the Third Quarter, Financial Results for the Nine Months Ended September 30, 2023 and Declares Dividend of $0.075 Per Share

Earnings Release: Wednesday, November 15, 2023, Before Market Open in New York Conference Call and Webcast: Wednesday, November 15, 2023, at 10:00 a.m. Eastern Time

United Maritime Announces the Date for the Third Quarter and Nine Months Ended September 30, 2023, Financial Results, Conference Call and Webcast

Over the past twelve months, United Maritime has sold all of the tanker vessels acquired in July 2022 at an aggregate gain of $48 million. The company has shifted its focus back to the larger dry bulk vessel classes. Currently, the fleet consists of eight dry bulk carriers with an average age of 14.5 years. The recent rally in dry bulk charter rates should benefit United Maritime's Q4 results quite meaningfully thus providing support for the company's generous quarterly cash dividend of $0.075 per share.

United Maritime: Upgrading To Buy On Vastly Improved Charter Rates And Generous Dividend

United Maritime Corporation (NASDAQ:USEA ) Q2 2023 Earnings Call Transcript August 3, 2023 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman, CEO and Founder Stavros Gyftakis - CFO Conference Call Participants Tate Sullivan - Maxim Group Operator Thank you for standing by ladies and gentlemen. And welcome to the United Maritime Corporation Conference Call on the Second Quarter Ended June 30, 2023, Financial Results.

United Maritime Corporation (USEA) Q2 2023 Earnings Call Transcript

Highlights       (in million USD, except for per share data)   Q2 2023 6M 2023 Net Revenues   $10.0 $12.8 Net loss   ($3.0) ($7.9) Adjusted net loss1   ($2.1) ($5.7) EBITDA1   $1.0 ($1.7) Adjusted EBITDA1   $2.0 $0.5         Loss per share Basic & Diluted   ($0.37) ($1.00) Adjusted loss per share Basic1& Diluted1   ($0.25) ($0.72) Other Highlights and Developments: Successful completion of the first investment cycle: Sale of our remaining LR2 tanker vessel for a gross sale price of $37.5 million, realizing a return on equity of approximately 400% $48 million combined profit from the sale and purchase transactions of four tanker vessels in less than one year Expansion through the second investment cycle, focusing on larger size dry bulk vessels: Agreements to acquire two more Japan built Panamax dry bulk vessels including a bareboat-in charter with purchase option $143.6 million 2 investment for two Capesize, two Kamsarmax and three Panamax vessels with no dilution for our shareholders Quarterly cash dividend of $0.075 per share for Q2 2023 - total cash dividends of $1.225 per share or $9.4 million declared since November 2022 Executed buybacks of about $0.2 million common shares in Q2 2023 - total repurchases of approximately $3.4 million common shares at an average price of $1.84 during the last 12 months GLYFADA, Greece, Aug. 03, 2023 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the second quarter and six months ended June 30, 2023. The Company also declared a quarterly dividend of $0.075 per common share for the second quarter of 2023.

United Maritime Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2023 and Declares Dividend of $0.075 Per Share

Earnings Release: Thursday, August 3, 2023, Before Market Open in New York Conference Call and Webcast: Thursday, August 3, 2023, at 10:00 a.m. Eastern Time

United Maritime Announces the Date for the Second Quarter Ended June 30, 2023, Financial Results, Conference Call and Webcast

United Maritime Corporation (NASDAQ:USEA ) Q1 2023 Earnings Conference Call May 17, 2023 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman, CEO and Founder Stavros Gyftakis - CFO Conference Call Participants Operator Thank you for standing by ladies and gentlemen. And welcome to the United Maritime Corporation Conference Call on the First Quarter Ended March 31, 2023.

United Maritime Corporation (USEA) Q1 2023 Earnings Call Transcript

Financial Highlights of the First Quarter of 2023: Net Loss of $4.9 million and loss per share (basic & diluted) of $0.64 Adjusted net loss 1 of $3.7 million and adjusted loss per share 1 of $0.48 Other Highlights and Developments: Quarterly cash dividend of $0.075 per share for Q1 2023 - resulting in total cash dividends of $1.15 per share or $8.7 million declared since November 2022 Agreements to acquire six vessels of total $126 million, consisting of two Capesize and two Kamsarmax vessels, as well as two Panamax vessels through bareboat charter agreements with purchase options New financing transaction of $24.5 million GLYFADA, Greece, May 18, 2023 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the first quarter ended March 31, 2023 and declared a quarterly dividend of $0.075 per share for the first quarter of 2023. For the quarter ended March 31, 2023, the Company generated net revenues of $2.8 million and recorded a negative Adjusted EBITDA1 of $1.5 million.

United Maritime Reports First Quarter 2023 Financial Results and Declares Quarterly Dividend of $0.075 Per Share

Earnings Release: Thursday, May 18, 2023, Before Market Open in New York  Conference Call and Webcast: Thursday, May 18, 2023, at 10:00 a.m. Eastern Time

United Maritime Announces the Date for the First Quarter Ended March 31, 2023 Financial Results, Conference Call and Webcast

GLYFADA, Greece, May 10, 2023 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA), announced today that it has entered into a twelve-month bareboat charter agreement for a Japanese-built modern Panamax dry bulk vessel with an unaffiliated third party in Japan. The bareboat charter agreement will commence in the third quarter of 2023 and includes a purchase option for United.

United Maritime Announces Agreement to Acquire a Modern Panamax Vessel through a Bareboat-in Charter and Delivery of Two Kamsarmax Vessels with Immediate Period Employment

GLYFADA, Greece, April 06, 2023 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA) announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2022 (the “Annual Report”) has been filed with U.S. Securities and Exchange Commission. The Annual Report may also be accessed through United's website, www.unitedmaritime.gr, at the “Investors” section under “Annual Reports”.

United Maritime Announces Availability of its 2022 Annual Report on Form 20-F

United Maritime Corporation (NASDAQ:USEA ) Q4 2022 Earnings Conference Call February 22, 2023 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman, CEO and Founder Stavros Gyftakis - CFO Conference Call Participants Tate Sullivan - Maxim Operator This call may contain forward-looking statements. Good day and thank you for standing by.

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