Genco Shipping & Trading Limited (GNK) Financial Statements (2025 and earlier)

Company Profile

Business Address 299 PARK AVENUE
NEW YORK, NY 10171
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 4412 - Deep Sea Foreign Transportation of Freight (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments43,69046,54258,142114,573143,872155,889
Cash and cash equivalent43,69046,54258,142114,573143,872155,889
Restricted cash and investments315 5,6435,64335,4926,045
Receivables22,07319,21726,51322,46514,90815,740
Inventory, net of allowances, customer advances and progress billings22,23426,74921,60124,56321,58327,208
Inventory22,23426,74921,60124,56321,58327,208
Prepaid expense 6,3774,8083,0983,1092,9982,870
Capitalized contract cost 1,0771,9382,4741,9831,6691,952
Derivative instruments and hedges, assets  5726,312   
Asset, held-for-sale, not part of disposal group  55,440  22,40810,303
Other current assets 1,6466711,0421,3702,3051,388
Other undisclosed current assets5781,3356051,1241,9671,800
Total current assets:97,990157,272125,430174,830247,202223,195
Noncurrent Assets
Operating lease, right-of-use asset6,3582,6284,0785,4956,882 
Property, plant and equipment7,1847,0718,5567,2376,3935,976
Derivative instruments and hedges   4231,166  
Deposits noncurrent assets    18,543  
Restricted cash and investments  315315315315315
Other undisclosed noncurrent assets945,070974,6161,035,064995,416972,0171,299,406
Total noncurrent assets:958,612984,6301,048,4361,028,172985,6071,305,697
TOTAL ASSETS:1,056,6021,141,9021,173,8661,203,0021,232,8091,528,892
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:34,49224,24529,47529,95622,79349,604
Accounts payable17,48010,65016,1629,39911,86426,040
Other undisclosed accounts payable and accrued liabilities17,01213,59513,31320,55710,92923,564
Deferred revenue4,6658,7464,95810,0818,421 
Debt     82,40769,747
Contract with customer, liability6,627
Other undisclosed current liabilities1,5032,2952,1071,858 1,677
Total current liabilities:40,66035,28636,54041,895113,621127,655
Noncurrent Liabilities
Long-term debt and lease obligation82,175190,169164,921244,432366,994412,983
Long-term debt, excluding current maturities82,175190,169164,921238,229358,933412,983
Liabilities, other than long-term debt5,5391,8014,096 7,200 
Deferred revenue     7,200 
Operating lease, liability5,5391,8014,0966,2038,061 
Other undisclosed noncurrent liabilities    (6,203) 9,826
Total noncurrent liabilities:87,714191,970169,017244,432374,194422,809
Total liabilities:128,374227,256205,557286,327487,815550,464
Equity
Equity, attributable to parent926,743913,256967,433916,587744,994978,428
Common stock427425423419418417
Additional paid in capital1,491,0321,553,4211,588,7771,702,1661,713,4061,721,268
Accumulated other comprehensive income  5276,480825  
Accumulated deficit(564,716)(641,117)(628,247)(786,823)(968,830)(743,257)
Equity, attributable to noncontrolling interest1,4851,39087688  
Total equity:928,228914,646968,309916,675744,994978,428
TOTAL LIABILITIES AND EQUITY:1,056,6021,141,9021,173,8661,203,0021,232,8091,528,892

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues423,016383,825536,934547,129355,560389,496
Cost of revenue(317,571)(361,404)(343,988)(326,484)(535,776)(365,822)
Cost of product and service sold(101,638)(97,093)(99,469)(82,089)(87,420)(96,209)
Gross profit:105,44522,421192,946220,645(180,216)23,674
Operating expenses(18,396)(28,268)(25,708)(19,530)(23,121)(52,077)
Operating income (loss):87,049(5,847)167,238201,115(203,337)(28,403)
Nonoperating expense(10,553)(6,509)(7,874)(19,070)(22,236)(27,582)
Investment income, nonoperating2,9782,6671,0421541,0284,095
Interest and debt expense(13,297)(8,780)(9,094)(19,765)(22,413)(31,955)
Income (loss) from continuing operations:63,199(21,136)150,270162,280(247,986)(87,940)
Income (loss) before gain (loss) on sale of properties:162,280(247,986)(87,940)
Other undisclosed net income13,2978,7809,09419,76522,41331,955
Net income (loss):76,496(12,356)159,364182,045(225,573)(55,985)
Net income (loss) attributable to noncontrolling interest(95)(514)(788)(38)  
Net income (loss) available to common stockholders, diluted:76,401(12,870)158,576182,007(225,573)(55,985)

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):76,496(12,356)159,364182,045(225,573)(55,985)
Other comprehensive income (loss) (527)(5,953)5,655825  
Comprehensive income (loss):75,969(18,309)165,019182,870(225,573)(55,985)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(95)(514)(788)(38)  
Comprehensive income (loss), net of tax, attributable to parent:75,874(18,823)164,231182,832(225,573)(55,985)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: