Earnings ·
Performance Shipping Inc. reported net income of $22.1 million for the six months ended June 30, 2026, a decline from…
PSHGPerformance Shipping Inc.
Performance Shipping Inc. reported net income of $22.1 million for the six months ended June 30, 2026, a decline from $38.5 million in the prior year period which included a $19.5 million gain on vessel sales. Revenue increased 73.2% to $68.4 million, driven by fleet expansion through newbuilding deliveries and secondhand acquisitions. The company paid $0.9 million in cash dividends on Series B and C preferred shares during the period. Aggregate outstanding debt rose to $316.1 million following a bond tap issue and loan proceeds, resulting in higher interest expenses of $11.6 million. In July 2026, Performance Shipping extended a Nordea loan maturity to July 2030, delivered vessel P. Sophia to new owners, and prepaid $12.8 million on Alpha Bank debt related to the upcoming sale of vessel P. Aliki. The company operates in the tanker shipping industry.