Genco Shipping & Trading Limited (GNK) Financial Statements (2026 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)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments55,54043,69046,54258,142114,573143,872
Cash and cash equivalent55,54043,69046,54258,142114,573143,872
Restricted cash and investments  315 5,6435,64335,492
Receivables15,22722,07319,21726,51322,46514,908
Inventory, net of allowances, customer advances and progress billings25,18722,23426,74921,60124,56321,583
Inventory25,18722,23426,74921,60124,56321,583
Prepaid expense 7,7836,3774,8083,0983,1092,998
Capitalized contract cost 2,1701,0771,9382,4741,9831,669
Derivative instruments and hedges, assets   5726,312  
Asset, held-for-sale, not part of disposal group  55,440  22,408
Other current assets 1,7881,6466711,0421,3702,305
Other undisclosed current assets1,3695781,3356051,1241,967
Total current assets:109,06497,990157,272125,430174,830247,202
Noncurrent Assets
Operating lease, right-of-use asset5,2516,3582,6284,0785,4956,882
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization7,4927,1847,0718,5567,2376,393
Derivative instruments and hedges    4231,166 
Deposits noncurrent assets     18,543 
Restricted cash and investments   315315315315
Other undisclosed noncurrent assets1,016,301945,070974,6161,035,064995,416972,017
Total noncurrent assets:1,029,044958,612984,6301,048,4361,028,172985,607
TOTAL ASSETS:1,138,1081,056,6021,141,9021,173,8661,203,0021,232,809
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:36,84334,49224,24529,47529,95622,793
Accounts payable18,64217,48010,65016,1629,39911,864
Other undisclosed accounts payable and accrued liabilities18,20117,01213,59513,31320,55710,929
Deferred revenue8,8264,6658,7464,95810,0818,421
Debt      82,407
Other undisclosed current liabilities  1,5032,2952,1071,858 
Total current liabilities:45,66940,66035,28636,54041,895113,621
Noncurrent Liabilities
Long-term debt and lease obligation189,08082,175190,169164,921244,432366,994
Long-term debt, excluding current maturities189,08082,175190,169164,921238,229358,933
Liabilities, other than long-term debt5,5395,5391,8014,096 7,200
Deferred revenue      7,200
Operating lease, liability5,5395,5391,8014,0966,2038,061
Other undisclosed noncurrent liabilities     (6,203) 
Total noncurrent liabilities:194,61987,714191,970169,017244,432374,194
Total liabilities:240,288128,374227,256205,557286,327487,815
Equity
Equity, attributable to parent896,484926,743913,256967,433916,587744,994
Common stock432427425423419418
Additional paid in capital1,465,1341,491,0321,553,4211,588,7771,702,1661,713,406
Accumulated other comprehensive income   5276,480825 
Accumulated deficit(569,082)(564,716)(641,117)(628,247)(786,823)(968,830)
Equity, attributable to noncontrolling interest1,3361,4851,39087688 
Total equity:897,820928,228914,646968,309916,675744,994
TOTAL LIABILITIES AND EQUITY:1,138,1081,056,6021,141,9021,173,8661,203,0021,232,809

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues342,054423,016383,825536,934547,129355,560
Cost of revenue(301,899)(317,571)(361,404)(343,988)(326,484)(535,776)
Cost of product and service sold(98,541)(101,638)(97,093)(99,469)(82,089)(87,420)
Gross profit:40,155105,44522,421192,946220,645(180,216)
Operating expenses(32,685)(18,396)(28,268)(25,708)(19,530)(23,121)
Operating income (loss):7,47087,049(5,847)167,238201,115(203,337)
Nonoperating expense(11,985)(10,553)(6,509)(7,874)(19,070)(22,236)
Investment income, nonoperating1,4842,9782,6671,0421541,028
Interest and debt expense(678)(13,297)(8,780)(9,094)(19,765)(22,413)
Income (loss) from continuing operations:(5,193)63,199(21,136)150,270162,280(247,986)
Income (loss) before gain (loss) on sale of properties:✕✕✕✕✕162,280(247,986)
Other undisclosed net income67813,2978,7809,09419,76522,413
Net income (loss):(4,515)76,496(12,356)159,364182,045(225,573)
Net income (loss) attributable to noncontrolling interest149(95)(514)(788)(38) 
Net income (loss) available to common stockholders, diluted:(4,366)76,401(12,870)158,576182,007(225,573)

Comprehensive Income ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):(4,515)76,496(12,356)159,364182,045(225,573)
Other comprehensive income (loss)  (527)(5,953)5,655825 
Comprehensive income (loss):(4,515)75,969(18,309)165,019182,870(225,573)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest149(95)(514)(788)(38) 
Comprehensive income (loss), net of tax, attributable to parent:(4,366)75,874(18,823)164,231182,832(225,573)

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.

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