United Maritime Corporation Stock Price, News & Analysis

United Maritime Corporation (NASDAQ: USEA) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the U.S. Securities and Exchange Commission. The report is accessible on their website in the 'Investors' section. The Company operates a fleet currently consisting of 1 tanker vessel, 2 Capesize, and 1 Panamax dry bulk vessels, with plans to increase to 7 vessels upon completion of announced transactions. This fleet will include 1 LR2 tanker, 3 Capesize, 2 Kamsarmax, and 1 Panamax, totaling an aggregate cargo capacity of 877,320 dwt. United Maritime Corporation is incorporated in the Marshall Islands and has its executive offices in Greece, trading under the ticker USEA on Nasdaq.

United Maritime Corporation (USEA) reported strong financial results for the fourth quarter of 2022, with a net income of $36.5 million and adjusted net income of $39.8 million. The company generated $14.9 million in net revenues and an EBITDA of $38.9 million. Earnings per share were $4.86 (basic) and $3.55 (diluted). The total cash, cash equivalents, and restricted cash as of December 31, 2022, reached $69.9 million, with shareholders' equity of $64.6 million. The company initiated a quarterly dividend of $0.075 per share and commenced a second investment cycle totaling $98 million for the acquisition of five dry bulk vessels.

United Maritime Corporation (USEA) will announce its fourth-quarter financial results on February 22, 2023, before market open. This report will cover the period from the start of operations on July 6, 2022, to December 31, 2022. Following the earnings release, management will host a conference call at 10:00 A.M. ET on the same day, which will be accessible via the company's website. Currently, United operates a fleet of 1 LR2 tanker and 2 Capesize dry bulk vessels, with plans to expand to 7 vessels through recent acquisitions, totaling a cargo carrying capacity of 877,320 dwt.

United Maritime Corporation (NASDAQ: USEA) has entered into agreements to acquire two Kamsarmax dry bulk vessels for a total price of $39.2 million, supported by cash reserves and new credit facilities. The vessel M/V Cretansea, built in 2009, is set for delivery by April 2023, while the M/V Oasea, built in 2010, is expected by mid-April. Additionally, United has a bareboat charter for a Japanese Panamax vessel with an option to purchase for $12.36 million. These strategic moves aim to expand their fleet and capitalize on favorable market conditions, with total investments in dry bulk exceeding $98 million.

United Maritime Corporation (NASDAQ: USEA) has announced its participation in Capital Link's Corporate Presentation Webinar Series set for January 19, 2023, at 10:00 AM ET. During the event, the company's senior management, including CEO Stamatis Tsantanis and CFO Stavros Gyftakis, will discuss the company's operations, business development, and growth prospects. Participants can register for the webinar through the provided link and submit questions during the live session. United Maritime operates a fleet that will expand to four vessels, increasing its capacity to 635,422 dwt after recent acquisitions.