Welcome to our dedicated page for Pyxis Tankers news (Ticker: PXS), a resource for investors and traders seeking the latest updates and insights on Pyxis Tankers stock.
Pyxis Tankers Inc. (PXS) is an international shipping company active in the transportation of refined petroleum products and dry-bulk commodities through a fleet of mid-sized eco-vessels. Its news flow reflects developments in both the product tanker and dry-bulk markets, as well as corporate and capital structure decisions. Investors following PXS news can see how chartering conditions, fleet deployment and financing decisions are described directly by the company.
Company press releases frequently cover quarterly and annual financial results, where Pyxis Tankers reports revenues, time charter equivalent (TCE) performance, utilization, Adjusted EBITDA and segment data for its MR tanker fleet and dry-bulk vessels. Management commentary in these releases links results to charter rate trends, fleet employment under short-term time charters or spot voyages, and changes in vessel supply and demand in the markets where it operates.
News items also highlight fleet and financing initiatives, such as the acquisition of mid-sized dry-bulk vessels, the use of a “hunting license” loan facility to finance potential vessel purchases, and the company’s description of its fleet as six modern mid-sized eco-vessels including MR product tankers and Kamsarmax and Ultramax bulkers. In addition, the company has announced common share repurchase programs and the full redemption of its Series A Cumulative Convertible Preferred Stock, which affected its capital structure and the trading of related securities on Nasdaq.
Regulatory and reporting updates appear in the form of announcements about the filing of the Annual Report on Form 20-F, the engagement of a new independent registered accounting firm, and the scheduled release dates for quarterly results. Together, these news items provide a view into Pyxis Tankers’ operating performance, fleet composition, financing arrangements and corporate actions. Readers interested in PXS can use this news stream to monitor how the company describes market conditions in the product tanker and dry-bulk sectors and how it responds through chartering, fleet and capital decisions.
Pyxis Tankers (PXS) reported Q4 2024 financial results with revenues of $12.0 million, a 9.2% decrease from Q4 2023. Time charter equivalent (TCE) revenues were $7.9 million, down 33.6% year-over-year. The company posted Adjusted net income of $0.3 million ($0.03 per share) and Adjusted EBITDA of $3.3 million.
The company's MR tankers generated an average TCE rate of $22,084 per day in Q4 2024, down 27.6% from $30,484 in Q4 2023. The dry-bulk carriers averaged $11,582 per day, a 31.6% decrease from $16,932. For Q1 2025, MRs are booked at an estimated TCE of $25,079 per day (85% of available days), while bulkers are at $15,028 per day (78% of available days).
Notable corporate actions included:
- Full redemption of 303,171 Series A Preferred Shares for $7.6 million
- Completion of $3.0 million share buyback program at average cost of $4.03 per share
- Plans to upgrade two vessels with fuel-saving devices in spring 2025
Pyxis Tankers (NASDAQ: PXS), a maritime transportation company specializing in refined petroleum products and dry bulk commodities, has scheduled the release of its unaudited financial results for Q4 and full-year 2024. The results will be published after the New York market closes on Thursday, March 13.
The company will make available a presentation of the Q4 and year-end 2024 financial results on its website in the Investor Relations section under Presentations.
Pyxis Tankers (NASDAQ: PXS) has completed its $3.0 million common share repurchase program, acquiring 730,683 shares at an average cost of $4.03 per share. The company also redeemed all outstanding 7.75% Series A Cumulative Convertible Preferred Stock, preventing potential dilution of 1,799,871 common shares. In total, PXS spent $13.1 million on equity re-purchases, avoiding 19.4% dilution of common shares.
As of January 29, 2025, the company has booked 72% of Q1 2025 available days for its three eco-MR product tankers at an average daily TCE of $24,750, and 68% of Q1 2025 available days for its three dry-bulk vessels at an average daily TCE of $15,400. The current fleet consists of three tankers (148,592 dwt total) and three dry-bulk vessels (227,632 dwt total).
Pyxis Tankers reported strong Q3 2024 financial results with revenues of $13.8 million, up 24.3% year-over-year. Net income attributable to common shareholders was $3.6 million ($0.34 basic EPS), compared to $3.1 million in Q3 2023. The company's MR tankers achieved an average daily TCE rate of $29,826, while dry-bulk carriers averaged $13,841. Adjusted EBITDA increased to $6.7 million, up $1.2 million from Q3 2023. The company successfully refinanced existing debt with improved terms, reducing interest margins by 85 basis points on aggregate loans of $26.5 million.
Pyxis Tankers (NASDAQ: PXS) has announced it will release its third quarter 2024 unaudited results before market opening on Friday, November 22, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results. Participants can join via phone using US Toll-Free (+1 877 405 1226) or International (+1 201 689 7823) numbers, quoting 'Pyxis Tankers' or conference ID 13750105. A webcast will be available through the company's website, and a replay will be accessible until November 29, 2024.
Pyxis Tankers Inc. (NASDAQ: PXS), an international shipping company, has announced its participation in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. This conference brings together institutional investors, corporate clients, and industry professionals to showcase innovations and financial strategies.
Key points:
- Eddie Valentis, Chairman & CEO, and Henry Williams, CFO, will present at 2 p.m. ET on October 30th
- Pyxis Tankers management will hold one-on-one investor meetings throughout the day
- Interested investors can register to attend and schedule meetings through the provided link
The ThinkEquity Conference offers Pyxis Tankers an opportunity to engage with potential investors and showcase their company's strategies and performance in the shipping industry.
Pyxis Tankers Inc. (NASDAQ: PXS) has announced key updates for shareholders and chartering activities. The company will redeem the remaining 303,631 outstanding shares of its 7.75% Series A Cumulative Convertible Preferred Stock on October 20, 2024. This redemption will extinguish the right to convert into 1,354,204 common shares. Additionally, Pyxis Tankers has repurchased 65,793 common shares in Q3 2024, bringing the total repurchased shares to 481,164 at an average cost of $4.06 per share since May 2023. The company reports strong booking rates for Q3 2024, with 91% of available days for MR product tankers booked at an average estimated daily TCE of $31,545, and 87% of available days for bulkers booked at $17,641.
Pyxis Tankers Inc. (NASDAQ: PXS) reported strong financial results for Q2 2024. Revenues increased 46.3% to $13.9 million, while net income attributable to common shareholders rose to $5.0 million ($0.48 basic EPS). The company's MR tankers achieved an average daily TCE of $32,868, up 31.5% year-over-year. Pyxis expanded its fleet with the acquisition of a Kamsarmax dry bulk carrier through a joint venture. The company also refinanced existing debt at more favorable terms. Management expects a constructive chartering environment for both product tankers and dry bulk carriers in the near term, citing solid global demand and manageable orderbooks.
Pyxis Tankers Inc. (NASDAQ: PXS), an international shipping company, has announced the release date for its second quarter 2024 financial results. The unaudited results will be issued before market open on Monday, August 12, 2024. A conference call to discuss the results is scheduled for the same day at 8:30 a.m. Eastern Time.
Participants can join the call by dialing +1 877 405 1226 (US Toll-Free) or +1 201 689 7823 (US and International). The conference ID is 13748060. A webcast of the call will be available on the company's website. A telephonic replay will be accessible until August 19, 2024.
Pyxis Tankers (NASDAQ: PXS) has finalized a joint venture to acquire the 'Konkar Venture', an 82,099 dwt dry bulk carrier built in 2015. The company invested $7.3 million and issued 267,857 restricted common shares for a 60% ownership stake. The vessel will continue its current time charter at a daily rate of $18,000 until mid-August 2024. Post-acquisition, Pyxis Tankers' total cash is estimated at $43 million, including $2.2 million in restricted cash, with total funded debt reaching approximately $89 million.