SHIP

Interested in Seanergy Maritime Holdings Corp? Here are five stocks we like better. Record results: Seanergy reported second-quarter revenue of $55.7 million, adjusted EBITDA of $41.5 million and adjusted EPS of $1.32, driven by a 63% year-over-year increase in fleet TCE rates. The board also raised the quarterly dividend 75% to $0.35 per share. Fleet renewal and funding: The company is advancing a $591 million Capesize fleet-renewal program, with seven newbuildings and one 2022-built vessel scheduled for delivery from 2027 through 2029. Bond proceeds and committed financing cover approximately 90% of the program’s remaining capital expenditures, and management does not expect to require equity financing. Constructive market outlook: Seanergy expects favorable Capesize conditions, citing resilient commodity demand, limited shipyard capacity and constrained vessel supply. About 55% of its second-half 2026 ownership days are already fixed at an average rate of roughly $30,800 per day, providing earnings visibility while preserving some upside exposure. Top Shipping Firms Driving Industry-Leading Revenue Growth Seanergy Maritime (NASDAQ:SHIP) reported record second-quarter and first-half 2026 results as stronger Capesize freight rates lifted revenue, earnings and cash flow, while the company advanced a $591 million fleet-renewal program. Chairman and Chief Executive Officer Stamatis Tsantanis said the company generated second-quarter net revenue of $55.7 million, adjusted EBITDA of $41.5 million and adjusted earnings per share of $1.32. The fleet earned an average time-charter-equivalent, or TCE, rate of approximately $32,355 per day, up 63% from the year-earlier period. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now For the first six months of 2026, Seanergy reported net revenue of $97.8 million, adjusted EBITDA of $69.6 million and adjusted EPS of $1.96, compared with an adjusted loss per share in the prior-year period. The company’s first-half fleet TCE rose 69% year over year to $28,244 per day. Chief Financial Officer Stavros Gyftakis said second-quarter net revenue rose from $37.5 million a year earlier to $55.7 million. Net income was $26.2 million, while adjusted net income was $28.5 million. GAAP EPS was $1.21. → 3 Value ETFs to Consider as Growth Stocks Lag Behind For the first half, net income reached $35.9 million and adjusted net income totaled $42 million, compared with losses in the prior-year period. GAAP EPS for the six-month period was $1.67. The board declared a quarterly cash dividend of $0.35 per share, representing a 75% increase from the preceding quarter. Tsantanis said it was the company’s 19th consecutive quarterly dividend and that Seanergy has returned $108 million to shareholders since launching its dividend program in 2021, or about $3.19 per share. → 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? Gyftakis said the company’s adjusted EBITDA margin was about 70% during the first half, while its operating cash flow margin was approximately 44%. Seanergy said approximately 55% of its ownership days in the second half of 2026 have been fixed at an average daily rate of about $30,800. Tsantanis said the fixed-rate coverage is intended to provide earnings visibility and downside protection while retaining exposure to higher freight rates through index-linked employment. The company also said it has invested approximately $37.3 million since 2024 in environmental upgrades, vessel improvements and drydockings. After completing most scheduled work in recent quarters, it expects about 50 off-hire days for the remainder of 2026 related to drydockings, repairs and environmental upgrades. Seanergy has contracted for seven modern eco-designed Capesize newbuildings scheduled for delivery from 2027 through 2029, agreed to acquire a Japanese-built 2022 Capesize vessel for delivery in the first half of 2029, and sold three older vessels. Its latest commitments include a scrubber-fitted Japanese newbuild Capesize and the 2022-built vessel, both expected to join the fleet in 2029. The company also completed the sale of the 2010-built M/V Squireship. Four of the eight incoming vessels are expected to be delivered in 2027. Seanergy has secured long-term charters of four to five years for three China-built newbuildings due for delivery that year. Tsantanis said those agreements include a daily floor rate of $23,100, a premium over the BCI 5TC index up to roughly $29,750 per day, and a 50-50 sharing arrangement for earnings above that level. Seanergy ended the quarter with $59.5 million in cash and restricted cash, or approximately $3.3 million per operating vessel, after investing about $73 million in newbuild installments and other fleet-renewal initiatives during the first half, Gyftakis said. Total debt, including finance lease liabilities, stood at approximately $299 million as of June 30, corresponding to a fleet loan-to-value ratio of about 42% based on independent broker valuations. The company’s debt-to-capital ratio remained below 50%. Subsequent to quarter-end, Seanergy completed an inaugural €100 million unsecured corporate bond offering in Greece. Tsantanis said demand exceeded the offered amount by more than two times. Gyftakis said the five-year bullet structure and non-amortizing nature of the bond are suited to the company’s newbuild program, while the all-in cost was 4.9% annually. The company has also secured approximately $296.5 million in committed bilateral financing facilities for the newbuild program. Together with bond proceeds and existing liquidity, these funds cover about 90% of the program’s remaining capital expenditures, according to management. Seanergy estimated remaining installments at approximately $518 million, with payments spread through the first half of 2029. In response to an analyst question, Gyftakis said the company views its funding presentation as a contingency scenario and does not expect to need to raise equity for the program even if it were to generate no excess cash flow through 2029. He added that operating cash flow could provide additional equity funding, while amortization of debt on the existing fleet would contribute to deleveraging. Tsantanis said the Baltic Capesize Index averaged about $36,300 per day in the second quarter and approximately $29,600 per day in the first half. The July average was close to $35,000 per day, he said, while brokers reported secondhand Capesize vessel prices increased about 16% during the first half. Management cited resilient demand for iron ore, bauxite and coal, as well as constrained effective vessel supply from slower sailing speeds, drydock activity, an aging fleet and limited shipyard capacity. Tsantanis said China’s iron ore imports increased 6.3% year over year in the first half, while Chinese bauxite imports rose 18% in the January-to-May period. Looking ahead, the company said it sees a constructive Capesize outlook for the second half of 2026 and beyond. Gyftakis said the principal risk to market fundamentals would be an oversupply of newbuildings, but he characterized the Capesize order book as low and said shipyard capacity for additional Capesize and Newcastlemax vessels is limited for the next several years. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company's operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials. The company's core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Seanergy Maritime Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record financial performance: Q2 2026 net revenue of $55.7 million, adjusted EBITDA of $41.5 million, and adjusted EPS of $1.32, with fleet TCE up 63% year-over-year. Strong forward earnings visibility: 55% of H2 2026 ownership days fixed at an average of $30,800 per day, providing downside protection while retaining upside exposure. Disciplined fleet renewal program: $591 million committed to modern, fuel-efficient vessels, with 4 of 8 newbuilds delivering in 2027 and 3 already secured under long-term charters with downside protection. Successful capital diversification: Inaugural 100 million unsecured corporate bond in Greece was 2x oversubscribed, with a 4.9% all-in cost, enhancing financial flexibility. Consistent shareholder returns: 19th consecutive quarterly dividend declared at $0.35 per share (75% increase), with $108 million returned to shareholders since 2021. Below-index performance in Q2 due to hedging: Fixed-rate conversions capped earnings slightly below the BCI index during a quarter of significant rate spikes. Geopolitical uncertainty: Ongoing geopolitical disruptions and elevated bunker prices due to war create volatility and constrain effective vessel supply. Dependence on commodity demand resilience: While demand remains strong, any slowdown in Chinese iron ore, bauxite, or coal imports could pressure rates. Execution risk in fleet renewal: The $591 million investment program requires timely delivery of newbuilds and successful financing of remaining capital commitments. Short-term volatility in freight rates: Despite a constructive outlook, the capesize market is inherently volatile, with potential for short-term drops due to external factors like congestion or policy changes. Here are the key highlights from the Seanergy Maritime Holdings Corp (NASDAQ:SHIP) Q2 2026 earnings call, presented as Q&A pairs. Warning! GuruFocus has detected 9 Warning Signs with SHIP. Is SHIP fairly valued? Test your thesis with our free DCF calculator. Q: Given the strong cash flows and elevated rate environment, would you prefer to use more cash equity to fund the newbuild program, or continue using leverage to support dividends and further fleet growth?A: **Stamatis Santanis, Chairman and CEO**: We are not factoring in the increased operational cash flow for the program's funding; we maintain a conservative approach. Our capital allocation is evident with the dividend increase. We have room to increase it further once we have 12-month visibility later in the year. For now, we are comfortable with our order book and will continue rewarding shareholders, which is our top priority. Q: Can you walk through the financing for the $591 million newbuild program? Where would debt top out, and will unsecured financing become a larger part of the capital structure?A: **Stavros Giftakis, CFO**: The program is already fully funded without needing to raise equity, even if the company broke even through 2029. As operating cash flow increases, more equity will likely come in. Existing debt on the older fleet is amortizing quickly, which will offset the higher loan-to-value on newbuilds, so the overall leverage ratio should not change significantly from recent years. Q: How sustainable are the current strong market conditions through 2027 and 2028, and what indicators are you watching most closely?A: **Stamatis Santanis, Chairman and CEO**: The biggest potential concern is oversupply of newbuildings. However, the order book remains at very low levels through the second half of 2029. Shipyards are overbooked with other vessel types, so capacity for new Capesizes is non-existent for the next 3.5 to 4 years. Demand has been resilient for 30 years, so as long as supply is constrained, we are not worried about the downside. Q: Do you see freight rates leveling off, or is there still enough of a supply/demand disconnect for rates to strengthen further into 2027?A: **Stamatis Santanis, Chairman and CEO**: The market is always volatile due to geopolitics and congestion, but over the long-term (12-24 months), rates will average out at a healthy level. We are not worried about the downside. While there may be short-term volatility, we foresee the market averaging up quite healthily over the next few years. Q: Can you discuss the profit-sharing contract arrangements for the three 2027 newbuilds? Is this a new dynamic in the market, and what is the interest for the counterparties?A: **Stamatis Santanis, Chairman and CEO**: We offered great ships with prompt 2027 deliveries, which has strong value. We chose not to be greedy on the base rate ($23,100/day) to cover our all-in breakeven. The structure provides full upside between the floor and ceiling ($29,750), and a 50/50 profit share above that. We like operating with long-term partners, and this structure is our preferred path for future commercial arrangements. Q: With the successful 100 million bond offering, can you go back to that market right away, or are there other considerations?A: **Stamatis Santanis, Chairman and CEO**: We are very happy with the funds raised and the bond's performance. We are not looking for anything additional right now. We might consider other solutions in the Greek market, but nothing is imminent in the next six months to a year. We are comfortable with our cash flow and cash buffers to fund the existing investment program. Q: For modeling purposes, how should we forecast interest expense going forward, considering the new bond offering and other financings?A: **Stavros Giftakis, CFO**: For new financings, you can assume a margin of around 1.70% to 1.80%. For the 100 million bond, we have not hedged the coupon yet, but in dollar terms, you should model around 100 to 120 basis points over the Euro coupon. Q: The supply side of the Capesize story seems to be driving a multi-year upcycle based on tight supply. Is that the right way to think about the market beyond 2026?A: **Stamatis Santanis, Chairman and CEO**: That is an excellent way to think about it. The Capesize order book is the lowest among all vessel types (12-15% vs. 40-50% for tankers and containers). Combined with a very aging fleet, the fundamentals for the Capesize segment are unmatched for the coming years. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Delivers Record Q2 Net Income of $26.2 Million and EPS/ Adjusted EPS of $1.21/ $1.32; Declares Quarterly Dividend of $0.35 Per Share, Representing the Company’s 19th Consecutive Distribution Expands Fleet Renewal Program to $591 Million Across Eight Modern Capesize & Newcastlemax Vessels; Completes €100 Million Unsecured Bond Offering ______________________________1 Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA are non-GAAP measures. Please see the reconciliation below of Adjusted earnings / (loss) per share, Adjusted Net Income / (loss), EBITDA and Adjusted EBITDA to net income, the most directly comparable U.S. GAAP measure.2 Time Charter Equivalent (“TCE”) rate is a non-GAAP measure. Please see the reconciliation below of TCE rate to net revenues from vessels, the most directly comparable U.S. GAAP measure. Highlights and Developments: Exceptional Financial Performance & Consistent Shareholder Returns — $108.4 Million Returned Since Program Inception Record Q2 and H1 profit of $26.2 million and $35.9 million, respectively, up from $2.9 million net income and $4.0 million loss in the prior-year periods Quarterly cash dividend of $0.35 per share, the Company’s 19th consecutive cash dividend; payout of approx. 27% of Q2 Adjusted EPS $108.4 million of total capital returned to shareholders, comprising $63.2 million of cash dividends ($3.19 per share) and $45.2 million of share, warrant and convertible note repurchases Disciplined Fleet Growth and Renewal – $591 million Aggregate Investment Plan Entered into an agreement to acquire two Japanese-built Capesize vessels – a newbuilding and a modern 2022-built vessel – for aggregate consideration of approximately $130 million, both scheduled to join the fleet in early 2029 Expanded fleet renewal and growth program from six to eight modern vessels comprising seven newbuildings and one 2022-built Capesize, for an aggregate investment of approximately $591 million; four vessels to be delivered in 2027 Completed the profitable sale of the 2010-built M/V Squireship, generating approximately $13.8 million of net liquidity and a gain on sale of approximately $4.6 million, while continuing to provide technical and management services to the vessel Secured long-term time charters with leading counterparties for the three China-built 2027 newbuildings with floor rates covering expected cash breakeven, as well as potentially significant index-linked market upside Diversified Capital Resources — €100 Million Bond and $296.5 Million of Facilities Secured Successfully completed a €100 million 5-year unsecured corporate bond offering in Greece, further diversifying the Company’s capital resources and supporting its fleet growth and renewal program Fleet renewal program substantially funded: $72.6 million advanced from own funds and approximately $296.5 million of pre- and post-delivery facilities secured, alongside the €100 million bond Strong Commercial Performance Q2 2026 fleet TCE of $32,355 per day, an increase of 63% year over year Estimated Q3 2026 TCE of approximately $31,0003 per day - increased H2 earnings visibility ATHENS, Greece, July 30, 2026 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (“Seanergy” or the “Company”) (NASDAQ: SHIP), a leading pure-play Capesize owner and operator, today reported its financial results for the second quarter and six months ended June 30, 2026, and declared a quarterly cash dividend of $0.35 per common share. This marks Seanergy’s 19th consecutive quarterly dividend under its capital return policy and reflects the Company’s strong earnings generation and disciplined approach to capital allocation. For the quarter ended June 30, 2026, the Company generated Net Revenues of $55.7 million, compared to $37.5 million in the second quarter of 2025. Net Income and Adjusted Net Income for the quarter increased to $26.2 million and $28.5 million, respectively, compared to $2.9 million and $3.8 million, respectively, in the prior-year period. EBITDA and Adjusted EBITDA for the quarter reached $39.3 million and $41.5 million, respectively, compared to $17.4 million and $18.3 million, respectively, for the same period of 2025. The fleet achieved a daily TCE of $32,355 for the second quarter of 2026, representing a 63% year-over-year increase. For the six months ended June 30, 2026, Seanergy generated Net Revenues of $97.8 million, Net Income of $35.9 million and Adjusted Net Income of $42.0 million, compared to Net Revenues of $61.7 million, a Net Loss of $4.0 million and Adjusted Net Loss of $1.7 million in the first half of 2025. Adjusted EBITDA increased by 165% to $69.6 million, while Adjusted EPS reached $1.96, compared to an adjusted loss per share of $0.09 in the prior-year period. Fleet TCE increased by 69% to $28,244 per day. Cash and cash-equivalents and restricted cash, as of June 30, 2026, stood at $59.5 million. Long-term debt (senior loans and other financial liabilities) net of deferred charges amounted to $294.9 million, compared with a fleet book value of $542.3 million, including advances paid for vessels under construction and a vessel under sales-type lease, resulting in a fleet loan-to-book value ratio of approximately 55%. Stockholders' equity increased by $31.7 million, or 11% to $313.1 million, over the six-month period. ______________________________3 Blended Q3 TCE estimated on approx. 71% of Q3 available days already fixed and FFA rates as of July 28, 2026. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “Seanergy delivered record results in the second quarter with Net Income of $26.2 million and Adjusted EPS of $1.32, bringing first-half Adjusted EPS to $1.96, and underscoring the strong earnings power and operating leverage of our pure-play Capesize platform.” “Building on our solid performance, we continued to execute on our disciplined capital return policy. Our board of directors declared a quarterly cash dividend of $0.35 per share, our 19th consecutive distribution, bringing cumulative dividends to $3.19 per share, or approximately $63.2 million in aggregate. In total, we have returned $108.4 million to shareholders since program inception, through dividends and the repurchases of shares, warrants and convertible notes.” “We further advanced our fleet renewal strategy by agreeing to acquire two additional high-quality Japanese Capesize vessels for an aggregate consideration of approximately $130 million. These transactions consist of a scrubber-fitted newbuilding and a modern 2022-built vessel, both expected to join our fleet in 2029. These acquisitions lock in modern, fuel-efficient tonnage and scarce 2029 delivery slots ahead of an anticipated tightening in Capesize supply.” “Our fleet renewal and growth program now comprises eight modern vessels, including seven newbuildings and one 2022-built Capesize, and represents an aggregate investment of approximately $591 million. Four of the eight vessels are scheduled to deliver in 2027, accelerating fleet renewal and earnings contribution from 2027 onward. We continue to execute selectively, pairing scarce delivery slots with disposals of older tonnage at firm valuations, while maintaining a disciplined balance sheet.” “We have also secured multi-year employment for our three Chinese-built 2027 newbuildings with leading global counterparties, at floor rates covering expected cash breakeven plus a premium index-linked formula and profit sharing above an upper threshold. This approach materially de-risks the first phase of the program from day one of delivery while maintaining the upside potential central to our investment thesis.” “Our successful issuance of a €100 million unsecured corporate bond in Greece diversifies our capital base and complements our existing secured financings. Its five-year non-amortizing structure provides non-dilutive, long-term capital precisely matched to the construction phase of our program, before the new vessels begin generating revenues.” “The Capesize market continued to perform strongly during the second quarter, supported by record quarterly China iron ore imports and continued growth in bauxite trade against low fleet supply growth. Looking ahead, the market outlook remains constructive: a low orderbook against a rapidly ageing fleet, strong iron ore export growth, and resilient coal and bauxite volumes. In this context, we have fixed about 55% of our ownership days for the second half of the year at a daily rate of $30,800, providing significant earnings visibility while preserving meaningful index-linked exposure in a strong Capesize market. Additionally, based on the current FFA curve, our estimated 3Q 2026 daily TCE of approximately $31,000 further reinforces our positive earnings outlook and our ability to continue generating attractive returns in the quarters ahead.” “Our strategic direction remains clear: deliver consistent shareholder distributions, invest strategically in modern tonnage, and preserve financial flexibility. We believe this balanced approach positions Seanergy to create meaningful long-term shareholder value.” Company Fleet: Fleet Data: (U.S. Dollars in thousands) (In thousands of U.S. Dollars, except operating days and TCE rate) (In thousands of U.S. Dollars, except ownership days and Daily Vessel Operating Expenses) Net income / (loss) to EBITDA and Adjusted EBITDA Reconciliation: (In thousands of U.S. Dollars) Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") represents the sum of net income / (loss), net interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA and Adjusted EBITDA are not recognized measurements under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock-based compensation, (gain) / loss on forward freight agreements, net, loss on extinguishment of debt, and (gain) / loss on FX derivatives. which the Company believes are not indicative of the ongoing performance of its core operations. EBITDA and adjusted EBITDA are presented as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability from period to period. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company’s performance. EBITDA and adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to, financial measures prepared in accordance with U.S. GAAP. Adjusted Net Income / (Loss) Reconciliation and calculation of Adjusted Earnings / (Loss) Per Share (In thousands of U.S. Dollars, except for share and per share data) To derive Adjusted Net Income and Adjusted Earnings / (loss) Per Share, a non-GAAP financial measure, from Net Income / (loss), we adjust for dividends and undistributed earnings to non-vested participating securities and exclude non-cash items, as provided in the table above. We believe that Adjusted Net Income / (loss) and Adjusted Earnings / (loss) Per Share assist our management and investors by increasing the comparability of our performance from period to period since each such measure eliminates the effects of such non-cash items as loss on extinguishment of debt, stock based compensation, (gain) / loss on FX derivatives and other items which may vary from year to year, for reasons unrelated to overall operating performance. In addition, we believe that the presentation of the respective measure provides investors with supplemental data relating to our results of operations, and therefore, with a more complete understanding of factors affecting our business than with GAAP measures alone. Our method of computing Adjusted Net Income / (loss) and Adjusted Earnings / (loss) Per Share may not necessarily be comparable to other similarly titled captions of other companies due to differences in methods of calculation. Third Quarter 2026 TCE Rate Guidance: As of the date hereof, approximately 71% of the Company fleet’s expected operating days in the third quarter of 2026 have been fixed at an estimated TCE rate of approximately $30,112. Assuming that for the remaining operating days of our index-linked time charters, the BCI-180 rate will be equal to $33,980 (based on the FFA curve as of July 28, 2026), our estimated TCE rate for the third quarter of 2026 will be approximately $30,9984. The following table provides the breakdown of index-linked charters and fixed-rate charters in the third quarter of 2026: ______________________________4 This guidance is based on certain assumptions and the Company cannot provide assurance that these TCE rate estimates, or projected utilization rates will be realized. TCE estimates include certain floating (index) to fixed rate conversions concluded in previous periods. For vessels on index-linked T/Cs, the TCE rate realized will vary with the underlying index, and for the purposes of this guidance, the BCI 5TC 180 rate assumed for the remaining operating days of the quarter for an index-linked T/C is equal to $33,980 (based on the FFA curve as of July 28, 2026). Spot estimates are provided using the load-to-discharge method of accounting. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE rate will be reduced accordingly. Second Quarter and Recent Developments: Dividend Distribution for Q1 2026 and Declaration of Q2 2026 Dividend On July 10, 2026, the Company paid a quarterly cash dividend of $0.20 per common share for the first quarter of 2026 to all shareholders of record as of June 29, 2026. The Company has declared a quarterly cash dividend of $0.35 per common share for the second quarter of 2026 payable on or about October 9, 2026, to all shareholders of record as of September 25, 2026. Vessel Improvements - Environmental Investments - Dry-Dockings The Company is renewing its fleet through the addition of advanced eco-design newbuildings and modern secondhand tonnage, while selectively divesting older vessels. The seven newbuildings under the Company's fleet renewal and growth program are designed to meet International Maritime Organization requirements for Phase 3 greenhouse gas emissions reduction ("IMO GHG Phase 3") and Tier III nitrogen oxide emissions ("IMO NOx Tier III") and are scrubber-fitted. In parallel, the Company continues to implement the environmental upgrade program across its existing fleet, having invested approximately $37.3 million since 2024 in environmental upgrades, vessel improvements and dry-dockings. Together, the fleet renewal and environmental upgrade initiatives are expected to improve fuel efficiency and reduce greenhouse gas emissions. Having completed the majority of the scheduled upgrades in prior quarters, the Company expects approximately 50 off-hire days for the remainder of 2026 in connection with scheduled dry-dockings, vessel repairs and environmental upgrades. Fleet Update Acquisition of Two Japanese-Built Capesize Vessels for 2029 Delivery The Company has entered into an agreement with unaffiliated third parties to acquire two Japanese Capesize vessels for aggregate consideration of approximately $130.0 million. The acquisitions comprise: a 181,000 dwt scrubber-fitted Capesize newbuilding, expected to be delivered between the first and second quarters of 2029; and a 182,162 dwt Capesize vessel built in 2022, with forward delivery expected between the fourth quarter of 2028 and the second quarter of 2029. The Company has already paid a deposit of 5% of the purchase price for the Capesize newbuilding. The remaining balance of the purchase price shall be payable as follows: 35% in three instalments by November 2028, and the remaining 60% upon delivery of the vessel. Concerning the 2022-built Capesize vessel, the agreement involves a 10% advance payment, while the remaining 90% of the purchase price will be payable upon the vessel’s delivery. The newbuilding vessel will incorporate advanced eco-design features, intended to enhance fuel efficiency and reduce emissions. Together, the two acquisitions will add modern high-quality tonnage at a delivery point, which is aligned with the next phase of the Company’s fleet renewal strategy and expected requirements. To date, the Company has already paid $72.6 million for its newbuilding and fleet renewal program while maintaining a strong liquidity position. Sale of M/V Squireship In June 2026, the Company delivered to United Maritime Corporation, a related party, the 170,018 dwt M/V Squireship, built in 2010. The gross sale price was approximately $29.5 million, generating net proceeds of about $13.8 million. Seanergy continues to provide technical and management services to the vessel, facilitating the continuation of the vessel’s existing commercial employment. Commercial Updates Long-Term Time Charters for Three 2027-Delivery Newbuildings In July 2026, the Company entered into multi-year time charter agreements for three scrubber-fitted Capesize newbuildings scheduled for delivery between the second and fourth quarters of 2027. Two of our vessels to be delivered in 2027, to be named M/V Primeship and M/V Chrysship, have each been chartered for a period of five years to a leading European operator, with three optional extension periods of minimum 10 to maximum 14 months each. The third vessel, a 181,000 dwt Capesize vessel scheduled for delivery in the fourth quarter of 2027 has been chartered for four years to a major mining company, with two optional extension periods of about 11 to about 13 months. The charters are expected to commence upon the respective delivery of each vessel. The agreements provide for average floor rates of approximately $23,100 per day, designed to cover the vessels’ estimated cash breakeven levels. Above the floor, hire is calculated at a significant premium over the BCI-180 up to an average upper threshold of approximately $29,750 per day. Above the upper threshold, incremental earnings based on the same premium over the BCI-180 are shared equally between Seanergy and the respective charterer. M/V Kaizenship – New Time Charter agreement In July 2026, the Company entered into a new time charter agreement with Oldendorff Carriers GmbH & Co. KG (“Oldendorff”) for the M/V Kaizenship, for a period of about 18 to about 28 months. The new time charter agreement with Oldendorff is expected to commence in August 2026. The daily hire is based on the 5 T/C routes of the BCI, with an option for the Company to fix the rate for 1 to 16 months based on the prevailing Capesize FFA curve. M/V Blueship – New Time Charter agreement In June 2026, the Company entered into a new time charter agreement with Nippon Yusen Kabushiki Kaisha (“NYK”) for the M/V Blueship, for a period of about minimum 14 to about maximum 17 months. The new time charter agreement with NYK is expected to commence in November 2026, in direct continuation of the maximum period of the current charter. The daily hire is based on the 5 T/C routes of the BCI along with a fixed daily premium, with an option for the Company to fix the rate for 2 to 12 months based on the prevailing Capesize FFA curve. M/V Fellowship – Time Charter Extension In July 2026, the existing charterer exercised its option to extend the time charter agreement for the M/V Fellowship until a minimum of January 2028 and a maximum of March 2028, with the extension commencing immediately upon the expiration of the current charter period. M/V Friendship – Time Charter Extension In June 2026, the existing charterer of the vessel exercised its option to extend the time charter agreement for M/V Friendship by six months beyond the current minimum/maximum charter period, in direct continuation from the previous agreement. Financing Updates Successful Completion of €100 Million Five-Year Unsecured Corporate Bond Offering In July 2026, Seanergy successfully completed a €100 million unsecured bond offering to investors in Greece (ATHEX: SHIPB1). The bonds were admitted to trading on the Fixed Income Securities Segment of Euronext Athens Holding S.A. on July 13, 2026. The bonds were issued at par, mature in July 2031 and carry a coupon of 4.90% per annum, payable semi-annually. The five-year bullet structure involves no scheduled principal amortization before maturity, preserving liquidity during the construction phase of the Company’s newbuilding program. Newbuilding Capesize vessel – Sale and Leaseback agreement The Company has agreed to enter into a $60.0 million sale and leaseback agreement to partially finance the acquisition of the Capesize vessel scheduled for delivery in the fourth quarter of 2027. The agreement also provides pre-delivery financing for certain instalments under the shipbuilding contract. Upon delivery, the vessel will be sold and chartered back for a period of 84 months. The Company will have continuous purchase options at predetermined prices as set forth in the agreement, commencing two years after the charter commencement date. The charterhire principal will amortize in 28 quarterly instalments of $0.7 million along with a purchase option of $40.0 million at the expiry of the bareboat charter. The pre-delivery financing amounts will accrue interest, payable quarterly in arrears. Conference Call: The Company’s management will host a conference call to discuss financial results on July 30, 2026, at 10:00 a.m. Eastern Time. Audio Webcast and Earnings Presentation: There will be a live, and then archived, webcast of the conference call and accompanying presentation available through the Company’s website. To access the presentation and listen to the archived audio file, visit our website, following the Webcast & Presentations section under our Investor Relations page. Participants to the live webcast should register on Seanergy’s website approximately 10 minutes prior to the start of the webcast, following this link. Conference Call Details: Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. * Derived from the audited consolidated financial statements as of that date About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company owns or operates under finance leases 19 vessels (2 Newcastlemax and 17 Capesize) with an average age of approximately 15.1 years and an aggregate cargo carrying capacity of 3,463,843 dwt. Upon the sale of the M/V Dukeship and the delivery of the seven newbuilding vessels and one secondhand Capesize vessel, the Company will own or operates under finance lease 26 vessels (3 Newcastlemax and 23 Capesize), with an aggregate cargo carrying capacity of approximately 4,763,552 dwt. The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “SHIP”. Please visit our Company website at: www.seanergymaritime.com. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to declaration of dividends, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Israel and Iran, the U.S. and Venezuela, China and Taiwan and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: Seanergy Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc.Paul Lampoutis230 Park Avenue Suite 1540New York, NY 10169Tel: +1 212 661 7566E-mail: [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4e1f170b-2bb8-4229-946a-e1063cd8f000

Seanergy Maritime Holdings Corp (SHIP) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +23.36%. A quarter ago, it was expected that this company would post earnings of $0.39 per share when it actually produced earnings of $0.63, delivering a surprise of +61.54%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Seanergy Maritime Holdings, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $55.69 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.51%. This compares to year-ago revenues of $37.48 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Seanergy Maritime Holdings shares have added about 74.3% since the beginning of the year versus the S&P 500's gain of 6.9%. While Seanergy Maritime Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Seanergy Maritime Holdings was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.71 on $50.25 million in revenues for the coming quarter and $3.20 on $200.72 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, ZIM Integrated Shipping Services (ZIM), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 19. This container shipping company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -152.6%. The consensus EPS estimate for the quarter has been revised 230.6% higher over the last 30 days to the current level. ZIM Integrated Shipping Services' revenues are expected to be $1.63 billion, down 0.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Seanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report ZIM Integrated Shipping Services Ltd. (ZIM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Earnings Release: Thursday, July 30, 2026, Before Market Open in New York Conference Call and Webcast: Thursday, July 30, 2026, at 10:00 a.m. Eastern Time GLYFADA, Greece, July 27, 2026 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it will release its financial results for the second quarter and six months ended June 30, 2026, prior to the open of the market in New York on Thursday, July 30, 2026. Seanergy’s senior management will conduct a conference call and simultaneous webcast to review these results on Thursday, July 30, 2026, at 10:00 a.m. Eastern Time. Audio Webcast and Earnings Presentation:There will be a live, and then archived, webcast of the conference call and accompanying presentation available through the Company’s website. To access the presentation and listen to the archived audio file, visit our website, following the Webcast & Presentations section under our Investor Relations page. Participants to the live webcast should register on Seanergy’s website approximately 10 minutes prior to the start of the webcast, by following this link. Conference Call Details:Participants have the option to register for the call using the following link. You can use any number from the list or add your phone number and let the system call you right away. About Seanergy Maritime Holdings Corp.Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company owns or finance leases 19 vessels (2 Newcastlemax and 17 Capesize) with an average age of approximately 15.0 years and an aggregate cargo carrying capacity of approximately 3,463,843 dwt. Upon completion of the sale of the M/V Dukeship and the delivery of the newbuilding vessels, the Company is expected to own or finance lease 24 vessels (3 Newcastlemax and 21 Capesize), with an aggregate cargo carrying capacity of approximately 4,400,390 dwt. The Company is incorporated in the Republic of the Marshall Islands and has executive offices in Glyfada, Greece. The Company's common shares trade on the Nasdaq Capital Market under the symbol “SHIP”. Please visit our Company website at: www.seanergymaritime.com. Forward-Looking StatementsThis press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including with respect to declaration of dividends, market trends and shareholder returns. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, impacts of litigation, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks arising from trade disputes between the U.S. and China, including the re-imposition of reciprocal port fees; broader market impacts arising from trade disputes or war (or threatened war) or international hostilities, such as between the U.S. and Israel and Iran, the U.S. and Venezuela, China and Taiwan and Russia and Ukraine; risks associated with the length and severity of pandemics; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For further information please contact: Seanergy Investor RelationsTel: +30 213 0181 522E-mail: [email protected] Capital Link, Inc. Paul Lampoutis230 Park Avenue Suite 1540 New York, NY 10169Tel: (212) 661-7566Email: [email protected]

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Seanergy Maritime Holdings Corp (SHIP). This company, which is in the Zacks Transportation - Shipping industry, shows potential for another earnings beat. This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 41.48%. For the last reported quarter, Seanergy Maritime Holdings came out with earnings of $0.63 per share versus the Zacks Consensus Estimate of $0.39 per share, representing a surprise of 61.54%. For the previous quarter, the company was expected to post earnings of $0.56 per share and it actually produced earnings of $0.68 per share, delivering a surprise of 21.43%. With this earnings history in mind, recent estimates have been moving higher for Seanergy Maritime Holdings. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Seanergy Maritime Holdings has an Earnings ESP of +22.34% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric. Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate. Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Seanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by the operating leverage of a pure-play Capesize platform, achieving significant year-over-year growth despite the seasonally weak first quarter. Management attributes market strength to exceptionally high bauxite volumes and counter-seasonal iron ore export strength from Brazil and West Africa. The fleet renewal strategy involves contracting six modern eco-design newbuildings while opportunistically selling older vessels at firm secondhand prices to enhance long-term earnings capacity. Index-linked chartering strategy outperformed the BCI-180 benchmark by approximately 6%, reflecting effective commercial management and vessel positioning. Operational efficiency is being impacted by slower sailing speeds due to high bunker prices and increased port congestion, which effectively reduces available vessel supply. Strategic positioning focuses on a 'supply-driven growth' narrative, where an aging global fleet and limited newbuilding order book are expected to create a structural dearth of tonnage. Second quarter 2026 TCE is expected to reach approximately $31,430 per day, with 45% of remaining 2026 days already fixed above $29,000. Management expects to secure multi-year time charters for newbuildings with downside protection above cash breakeven levels and profit-sharing structures to preserve upside. The 2027 to 2029 market environment is viewed as structurally supportive due to the rapid aging of the global Capesize fleet and efficiency losses of older vessels. Future dividend distributions are intended to remain consistent with the established formula, prioritizing shareholder rewards alongside fleet renewal commitments. Guidance assumes continued energy security demand driving seaborne coal volumes and restocking in the Far East ahead of summer months. The company has already secured $237 million in financing for four of the six newbuildings, including critical pre-delivery funding. Approximately $19 million in remaining 2026 newbuilding equity CapEx is expected to be covered by existing cash reserves and operating cash flows. Management flagged geopolitical uncertainty as a primary risk factor, though they remain optimistic about underlying cargo demand resilience. Vessel operating expenses are projected to remain between $7,000 and $7,200 per day, reflecting a commitment to high maintenance standards for a middle-aged fleet. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects stable demand but emphasizes that the 'scale tips' due to reducing effective supply from congestion and an aging global fleet. Noted that hundreds of ships will turn 20 years old between 2026 and 2029, with the current order book insufficient to compensate for the loss of tonnage. The company is negotiating 4-to-5-year charters that provide a base rate above cash breakeven plus a 50-50 profit split above a certain ceiling. Management is willing to trade some upside on newbuildings to ensure the $0.5 billion investment is sustainable and de-risked. Targeting 70% to 75% leverage on newbuilding contracts, requiring 25% to 30% equity participation per vessel. The company expects to maintain a 50% loan-to-value ratio at the corporate level by aggressively repaying debt on the existing fleet.

Interested in Seanergy Maritime Holdings Corp? Here are five stocks we like better. Seanergy Maritime delivered a much stronger Q1, with net revenue rising to $43 million from $24.2 million a year ago and adjusted EBITDA jumping 253% to $28.2 million. Adjusted EPS came in at $0.63, helped by a stronger Capesize market and better chartering performance. The company declared its 18th consecutive quarterly dividend of $0.20 per share, bringing cumulative shareholder returns since inception to about $2.84 per share, or $55.6 million. Management said it remains focused on rewarding shareholders while preserving market exposure. Seanergy is advancing a fleet renewal program, having ordered six eco-design newbuildings and agreed to sell three older vessels, with financing secured for four of the six ships. Management said the program is meant to improve fleet quality and long-term earnings capacity while maintaining a manageable leverage profile. Top Shipping Firms Driving Industry-Leading Revenue Growth Seanergy Maritime (NASDAQ:SHIP) reported sharply higher first-quarter results and said it remains focused on shareholder returns while advancing a multi-vessel fleet renewal program, according to management comments on the company’s earnings call for the quarter ended March 31, 2026. Chairman and CEO Stamatis Tsantanis said Seanergy delivered a “very strong first quarter” despite the period typically being the weakest seasonally for dry bulk shipping. Net revenue rose to $43 million from $24.2 million in the same quarter last year. Adjusted EBITDA increased 253% year over year to $28.2 million, while adjusted earnings per share were $0.63. → Rocket Lab Keeps Making Headlines and Highs—Here's What's Driving the Latest Move The company declared its 18th consecutive quarterly cash dividend of $0.20 per share. Tsantanis said cumulative shareholder distributions since inception total approximately $2.84 per share, or $55.6 million. Chief Financial Officer Stavros Gyftakis said the first-quarter results reflected both a stronger Capesize market and the company’s commercial strategy. Seanergy’s time charter equivalent, or TCE, was $24,200 per day, compared with $13,400 per day in the prior-year period. Adjusted net income was $13.4 million, compared with an adjusted net loss a year earlier. → Quantum Stocks Just Got a Lifeline—Who Benefits Most? Tsantanis said Seanergy’s index-linked chartering strategy outperformed during the quarter, with fleet TCE exceeding the BCI 180 index by an average of about 6%. Looking ahead, he said the company expects second-quarter 2026 TCE to be approximately $31,430 per day. Management also said 45% of available operating days from the second quarter through year-end have been fixed at average gross rates above $29,000 per day. Tsantanis said this provides “meaningful earnings visibility” while preserving market exposure. → 5 Stocks Winning the AI Race While Everyone Watches NVIDIA Seanergy continued to move ahead with its fleet renewal strategy during the quarter. Tsantanis said the company contracted three additional vessels at shipyards in China and Japan, with the latest orders placed at Hengli Shipbuilding in April, and agreed to sell one older Capesize vessel. Since the program began, Seanergy has contracted six modern eco-design newbuildings across Capesize and Newcastlemax vessels and agreed to dispose of three older vessels. Tsantanis said the moves are intended to improve fleet quality, efficiency and long-term earnings capacity. The company has secured financing for four of the six newbuildings. Gyftakis said Seanergy has agreed to approximately $237 million of financing for those vessels, including pre-delivery financing, and that discussions for the remaining vessels are progressing. Gyftakis said Seanergy had $68.8 million in cash and restricted cash at quarter-end, despite investing $31 million in the newbuilding program during the quarter. Total assets stood at $640 million, including vessels under construction, while shareholders’ equity was $289.3 million. Total debt, including finance lease liabilities, was $319.7 million, corresponding to a loan-to-value ratio of about 43% based on the market value of the fleet. For the remaining 2026 newbuilding capital expenditures, Gyftakis said $72 million was scheduled for the second through fourth quarters. Of that amount, $36 million had already been paid during the second quarter, $17 million is expected to be funded through pre-delivery debt arrangements, and $19 million is expected to be funded through equity. He said the remaining equity requirement can be covered by cash reserves, upcoming sale proceeds and operating cash flow. Tsantanis said the Capesize market started 2026 strongly, helped by bauxite volumes, iron ore exports and growth in grain trading. He said the strength carried into the second quarter, supported by slower vessel speeds amid high bunker prices and higher port waiting times, which are limiting available vessel supply during a period of strong cargo demand. While acknowledging geopolitical uncertainty, Tsantanis said management remains optimistic about cargo demand. He cited coal demand tied to energy security and stockpiling, particularly ahead of warmer summer months, as well as support for seaborne iron ore trade from high-quality production in Brazil and West Africa. On the supply side, Tsantanis said extensive dry-docking requirements are curtailing availability. He noted that more than 20% of Capesize vessels built in 2011 and 2012 are due for scheduled surveys in 2026 and 2027. He also said the Capesize order book is approximately 13% to 14% of the existing fleet, compared with about 9% of the fleet being 20 years or older. During the question-and-answer session, B. Riley Securities analyst Liam Burke asked about the sustainability of bauxite, iron ore and coal volumes. Tsantanis said bauxite has increased and that management expects further increases. He also said coal has become a factor due to restocking in the Far East, especially China, and that the company does not see demand slowing “anytime soon.” Noble Capital Markets analyst Mark Riechman asked about multi-year charter agreements for the newbuildings. Tsantanis said Seanergy is negotiating structures with base rates above cash breakeven levels, a band of upside retained fully by the company up to a ceiling, and a 50/50 profit-sharing split above that level. He said the goal is to provide downside protection for at least four or five years. Asked about balancing locked-in rates with market upside, Tsantanis said the company’s existing fleet of 20 vessels remains substantially exposed to upside. For the newbuildings, he said Seanergy does not want to take unnecessary risk, citing its close to $1 billion order book. He said the company is willing to give up some upside to ensure the investment is sustainable. Gyftakis said Seanergy is targeting leverage of 70% to 75% on the newbuilding contracts, with equity participation of 25% to 30% for each ship. He said the company expects to maintain a loan-to-value threshold of about 50% at the corporate and fleet level. Riechman also asked about vessel operating expenses. Tsantanis said the company expects operating costs of approximately $7,000 to $7,200 per ship per day, broadly in line with 2025. In response to a question from Justin Smith of Maxim Group about the dividend, Tsantanis said the company intends to continue rewarding shareholders, subject to its formula and cash flow. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is a dry bulk shipping company that provides seaborne transportation services for major commodities, including iron ore, coal and grain. The company's operations encompass both time charter and voyage charter contracts, enabling customers to secure vessel capacity on either a fixed-rate or spot basis. Its client base includes commodity producers, trading houses and industrial end users seeking global logistics solutions for bulk materials. The company's core assets consist of a fleet of modern dry bulk carriers, spanning Capesize, Panamax and Supramax classes. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Seanergy Maritime Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Seanergy Maritime Holdings Corp (SHIP) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to a loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +61.54%. A quarter ago, it was expected that this company would post earnings of $0.56 per share when it actually produced earnings of $0.68, delivering a surprise of +21.43%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Seanergy Maritime Holdings, which belongs to the Zacks Transportation - Shipping industry, posted revenues of $42.85 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.34%. This compares to year-ago revenues of $24.21 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Seanergy Maritime Holdings shares have added about 61% since the beginning of the year versus the S&P 500's gain of 9.9%. While Seanergy Maritime Holdings has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Seanergy Maritime Holdings was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.58 on $44.66 million in revenues for the coming quarter and $2.09 on $182.43 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Shipping is currently in the top 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Seanergy Maritime Holdings Corp (SHIP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: May 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Seanergy Maritime Holdings Corp (NASDAQ:SHIP) reported a significant increase in net revenues to $43 million, up from $24.2 million in the same quarter last year. Adjusted EBITDA rose by 253% year-over-year to $28.2 million, showcasing strong financial performance. The company declared its 18th consecutive quarterly cash dividend of $0.20 per share, emphasizing its commitment to shareholder returns. Seanergy advanced its fleet renewal strategy by contracting three additional vessels and securing financing for four of the six new buildings at attractive terms. The company has already fixed 45% of its available operating days for the remainder of the year at average gross rates exceeding $29,000 per day, providing earnings visibility. The company faces a complicated geopolitical picture, which introduces uncertainty into future operations. Despite strong performance, the company acknowledges the need for extensive maintenance due to the aging fleet, which could increase operating costs. Seanergy's fleet renewal strategy involves significant capital commitments, with $72 million in remaining new building CapEx for 2026. The company is exposed to potential market volatility, as it balances locking in strong forward rates with maintaining exposure to market upside. Operating cost inflation, particularly in crewing, maintenance, and regulatory compliance, could impact future profitability. Warning! GuruFocus has detected 5 Warning Signs with SHIP. Is SHIP fairly valued? Test your thesis with our free DCF calculator. Q: Can you discuss the sustainability of bauxite and iron ore volumes and the impact of increased coal consumption on the rate environment? A: (CEO) The increased iron ore cargoes are stable year-on-year, and bauxite volumes are expected to continue rising. Coal has significantly contributed due to restocking in China and other regions. We anticipate stable demand, with effective vessel supply reducing due to congestion and an aging fleet, supporting a sustainable freight rate environment. Q: Could you provide the CapEx cadence for the rest of the year and any insights into 2027-2028 delivery timings? A: (CFO) We've paid the majority of the CapEx for 2026, with $72 million remaining. Of this, $36 million has been paid in Q2, and $17 million will be covered by pre-delivery financing, leaving $19 million to be financed through equity, comfortably covered by cash reserves and operating cash flow. Q: How advanced are discussions with charterers for multi-year agreements with downside protection and profit-sharing mechanisms for new builds? A: (CEO) We aim for rates above cash flow break-even, with profit-sharing structures. Discussions are advanced, and we expect significant coverage before vessel delivery, ensuring sustainable investment. Q: How do you balance locking in strong forward rates versus maintaining market upside exposure? A: (CEO) Our current fleet is exposed to market upside, and we are content with that. For new builds, we prioritize sustainability over potential upside, ensuring investment security. We have 50% of our fleet covered at $29,000/day, balancing downside protection and market exposure. Q: What are your expectations for operating cost inflation over the next 12 to 24 months? A: (CEO) We expect operating expenses to be around $7,000 to $7,200 per ship per day. Despite our ships being middle-aged, we maintain them well, and our low acquisition costs offset higher maintenance expenses. For the complete transcript of the earnings call, please refer to the full earnings call transcript.