Earnings ·
Toro Corp. reports $0.6M net income for Q2, completes spin-off of LPG carrier business
TOROToro Corp.
Toro Corp. reported net income of $0.6 million for the three months ended June 30, 2026, a 60.9% decrease from $1.4 million in the prior-year period, driven by higher general and administrative expenses including stock-based compensation. Total vessel revenues rose 71.3% to $7.0 million, while EBITDA increased to $1.7 million. The company also completed the spin-off of its LPG carrier business into AI OKTO CORP., distributing shares on a one-for-eight basis. Additionally, Toro acquired two MR tanker vessels for $83.4 million and entered into new credit facilities.