Performance Shipping Reports $3.9M Net Income in Q3 2025, Down from $12.4M YoY
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2025
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Source: Newsfilter
- Revenue Decline: In Q3 2025, Performance Shipping reported revenue of $18.5 million, down from $22.9 million in Q3 2024, primarily due to decreased time-charter equivalent rates and reduced available days from drydock, negatively impacting overall profitability.
- Net Income Shift: The net income for Q3 2025 was $3.9 million, significantly lower than $12.4 million in the same period of 2024, reflecting increased financing and administrative expenses alongside rising operating costs, indicating pressure on the company's cost management.
- Cash Flow Status: The net cash provided by operating activities in Q3 2025 was $13.5 million, a decrease from $16.1 million in Q3 2024, suggesting challenges in cash flow management that could affect future investment capabilities.
- Expansion Plans: The company plans to take delivery of two 2019-built Suezmax tankers in early 2026, having secured three-year time-charter contracts, which is expected to enhance cash flow visibility and revenue backlog, supporting future growth strategies.
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Analyst Views on PSHG
Wall Street analysts forecast PSHG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSHG is 5.25 USD with a low forecast of 4.00 USD and a high forecast of 6.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 2.120
Low
4.00
Averages
5.25
High
6.50
Current: 2.120
Low
4.00
Averages
5.25
High
6.50
No data
About PSHG
Performance Shipping Inc is a Greece-based global provider of shipping transportation services. It owns containerships and focuses on providing sourcing opportunities for vessel purchases and sales, newbuilding acquisitions, chartering and financing arrangements. The Company’s vessels are employed primarily on charters with liner companies carrying containerized cargo along worldwide shipping routes. The Company owns and operates vessels such as Panamax container vessel and Aframax tanker vessel. The Company’s fleet is managed by Unitized Ocean Transport Limited, a wholly owned subsidiary. The Company's customers include national, regional and international companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Performance Shipping Inc. Secures $31,000/Day Charter with PBF Holding for Three Years
- Charter Agreement: Performance Shipping has entered into a three-year charter agreement with PBF Holding through a wholly-owned subsidiary, at a rate of $31,000 per day, expected to commence in mid-February, generating approximately $33 million in revenue, significantly enhancing the company's cash flow visibility.
- Revenue Growth: This charter will increase the company's fleetwide backlog to a record level of approximately $349 million, indicating success in stabilizing revenue and executing long-term strategies.
- Strategic Partnership: The collaboration with PBF Holding not only secures three years of stable income but also demonstrates the company's ability to forge new relationships with energy firms, further solidifying its market position.
- Future Outlook: The CEO emphasized a continued focus on medium to long-term charter strategies, highlighting the importance of staggered contract maturities to achieve steady revenues and renewal opportunities, which is expected to support future growth prospects.
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Performance Shipping Inc. Successfully Places $50 Million Bond Tap Issue at 9.875% Interest Rate
- Successful Bond Issue: Performance Shipping Inc. successfully placed a $50 million tap issue of bonds with a fixed annual interest rate of 9.875%, expected to close on January 26, 2026, enhancing the company's financing capacity for future growth.
- Increased Total Debt: Following this tap issue, the total outstanding amount of the bonds rises to $150 million, indicating the company's active engagement in capital markets and confidence in future business expansion.
- Market Pricing Advantage: The tap issue was priced at 103.00% of par value, reflecting market recognition of the company's creditworthiness while providing a relatively low-cost financing avenue to meet operational needs.
- Compliance and Restrictions: The bonds are offered only to qualified institutional buyers under Rule 144A of the U.S. Securities Act, ensuring compliance and mitigating potential legal risks.
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