Welcome to our dedicated page for Toro news (Ticker: TORO), a resource for investors and traders seeking the latest updates and insights on Toro stock.
Toro Corp. reports developments for a global energy transportation business that owns, charters and operates oceangoing tankers and LPG carrier vessels. Company updates center on vessel revenues, net income and operating costs, as well as fleet adjustments involving MR tankers, LPG carriers and the completed spin-off of its Handysize tanker segment.
Recurring news also covers capital allocation and financing actions, including special dividends payable in cash or common shares, shareholder election results, revolving credit facilities secured by vessels and transactions involving Castor Maritime securities. These items frame Toro’s public updates around fleet composition, vessel-backed financing, shareholder distributions and related-party governance processes.
Toro Corp. (NASDAQ: TORO), an international energy transportation services company, has announced its 2024 Annual General Meeting of Shareholders. The meeting is scheduled for September 6, 2024, at 5:00 p.m. local time in Limassol, Cyprus. The company's Board of Directors has set July 8, 2024, as the record date for determining shareholders eligible to receive notice and vote at the meeting.
Toro Corp. operates a fleet of five vessels, including one Handysize tanker and four 5,000 cbm LPG carriers, with a total capacity of 0.1 million dwt. The company provides transportation services for crude oil, petroleum products, and petrochemical gases worldwide. Toro's common shares are traded on the Nasdaq Capital Market under the symbol TORO.
Toro Corp. reported a net income of $22.1 million for the three months ended March 31, 2024. The company's total vessel revenues decreased by 77.6% to $7.0 million compared to the same period in 2023. Earnings per common share decreased to $1.11. Despite a slight increase in net income, the EBITDA decreased to $21.4 million. The company repurchased shares and had cash and restricted cash of $186.4 million as of March 31, 2024. Management remains positive about growth opportunities.
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