United Maritime (USEA) Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, March 12, 2026 astatine 10:06 AM CDT 14 min read

Image source: The Motley Fool.

Thursday, March 12, 2026 astatine 10 a.m. ET

• Chief Executive Officer — Stamatios Tsantanis

• Chief Financial Officer — Stavros Gyftakis

Need a punctuation from a Motley Fool analyst? Email [email protected]

Stamatios Tsantanis: Hello, everybody. Welcome to United Maritime Corporation’s league telephone to sermon our fiscal results for the 4th fourth and afloat twelvemonth play ended 12/31/2025. During the 4th quarter, United Maritime Corporation generated nett revenues of $6,600,000 and EBITDA of $1,500,000. More importantly, since our past update, we person executed a bid of strategical initiatives aimed astatine enhancing the company's net profile, strengthening our equilibrium sheet, and expanding our escaped currency travel procreation capacity. In addition, we are pleased to state our 13th consecutive quarterly dividend, a milestone that reflects our committedness for superior returns. Since initiating our dividend programme successful November 2022, United Maritime Corporation has declared cumulative currency dividends of astir $1.84 per share.

With stronger currency procreation present secured done precocious fleet employment, we are assured successful our quality to prolong a competitory level of distributions portion preserving the fiscal flexibility to prosecute accretive maturation opportunities. A cardinal pillar of our 2025, 2026 strategy has been disciplined superior reallocation, divesting little returning assets and redeploying proceeds into higher earning Capesize exposure. In aboriginal 2026, we agreed to merchantability the 2009-built Kamsarmax Cretan c for a nett terms of $14,700,000, generating astir $6,000,000 successful nett currency proceeds aft indebtedness repayment.

We besides agreed to exit our concern successful the offshore vigor operation vessel, realizing proceeds of astir €30,000,000, a nett of astir €1,700,000, and a instrumentality connected invested superior of astir 15% successful a precise constricted play of time. These 2 agreed income combined are expected to merchandise astir $21,000,000 successful nett liquidity. Moving into the concern from now. In February, took transportation of the 2010 Capesize Dukeship nether an eighteen-month verbal charter for a regular complaint of $9,450. While the vas volition beryllium earning an mean fixed gross regular complaint of astir $29,300 done twelvemonth extremity of 2026, providing contiguous contracted currency travel visibility.

In addition, we precocious agreed to get the 2010-built scrubber-fitted Capesize Squareship from Synergy Maritime Holdings for astir $29,500,000 with transportation successful May 2026, financed done a operation of indebtedness and internally generated liquidity, including the aforementioned sales. Similar to the dukeship, the regular net of the Squareship person besides been converted to a complaint of $28,250 until the 2026. The implied concern successful the 2 Capesizes is astir $62,000,000. Operationally, our 4th fourth TCE of $14,129 was successful enactment with the aforesaid play of 2024, a coagulated effect that reflects United Maritime Corporation’s modulation to a axenic Panamax fleet during the 2025. Fleet utilization remained precocious astatine 97.6% and OpEx regular of astir $6,404 was good controlled.