United Maritime
USEA

$2.66

0.91%

Market Cap: $23.9M

About: United Maritime Corp operates as a shipping company currently specializing in the seaborne transportation of dry bulk commodities. It currently operates one LR2 tanker vessel and three Capesize dry bulk vessels, two Kamsarmax dry bulk vessels, and three Panamax dry bulk vessels, with an aggregate cargo-carrying capacity of approximately 1,004,289 dwt.

Employees: 5

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

300% more first-time investments, than exits

New positions opened: 4 | Existing positions closed: 1

200% more repeat investments, than reductions

Existing positions increased: 3 | Existing positions reduced: 1

27% more funds holding

Funds holding: 11 [Q1] → 14 (+3) [Q2]

17% more capital invested

Capital invested by funds: $329K [Q1] → $384K (+$54.5K) [Q2]

0.18% more ownership

Funds ownership: 1.46% [Q1] → 1.64% (+0.18%) [Q2]

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Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$6

126%

upside

Avg. target

$6

126%

upside

High target

$6

126%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Maxim Group

Tate Sullivan

42% 1-year accuracy

5 / 12 met price target

126%upside

$6

Buy

Initiated

26 Jun 2024

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Financial journalist opinion

United Maritime Corporation (USEA) Q2 2024 Earnings Call Transcript

United Maritime Corporation (NASDAQ:USEA ) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET Company Participants Stamatios Tsantanis - Chairman and Chief Executive Officer Stavros Gyftakis - Chief Financial Officer Conference Call Participants Tate Sullivan - Maxim Group Operator Thank you for standing by ladies and gentlemen. And welcome to the United Maritime Corporation Conference Call on the Second Quarter and Six Months Ended the 30th of June 2024, Financial Results.

United Maritime Corporation (USEA) Q2 2024 Earnings Call Transcript

United Maritime Announces the Date for the Second Quarter and Six Months Ended June 30, 2024, Financial Results, Conference Call and Webcast

Earnings Release: Tuesday, August 6, 2024, Before Market Open in New York Conference Call and Webcast: Tuesday, August 6, 2024, at 12:00 p.m. Eastern Time

United Maritime Announces the Date for the Second Quarter and Six Months Ended June 30, 2024, Financial Results, Conference Call and Webcast

United Maritime Reports First Quarter 2024 Financial Results and Declares Quarterly Cash Dividend of $0.075 Per Share

Highlights (in million USD except LPS) Q1 2024 Q1 2023 Net Revenues $10.6 $2.8 Net Loss ($1.3) ($4.9) Adjusted Net Loss1 ($1.1) ($3.7) EBITDA1 $3.5 ($2.7) Adjusted EBITDA1 $3.7 ($1.5) Loss per share Basic & Diluted ($0.15) ($0.64) Adjusted Loss per share Basic1 & Diluted1 ($0.13) ($0.48) Other Highlights and Developments: Quarterly cash dividend of $0.075 per share declared for Q1 2024 Total cash dividends of $11.4 million, or $1.45 per share, declared since November 2022, representing approximately 46% of United's market capitalization 2 Agreement to acquire a 2016-built Japanese Kamsarmax 3 Agreement to sell a 2010-built Chinese Kamsarmax at a profit A new $18.0 million sale and leaseback arrangement – aggregate financings of $31.8 million year-to-date GLYFADA, Greece, May 24, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the first quarter ended March 31, 2024 and declared a quarterly dividend of $0.075 per share for the first quarter of 2024. For the quarter ended March 31, 2024, the Company generated Net Revenues of $10.6 million compared to $2.8 million in the first quarter of 2023.

United Maritime Reports First Quarter 2024 Financial Results and Declares Quarterly Cash Dividend of $0.075 Per Share

United Maritime Announces the Date for the First Quarter Ended March 31, 2024, Financial Results

Earnings Release: Friday, May 24, 2024, Before Market Open in New York Earnings Release: Friday, May 24, 2024, Before Market Open in New York

United Maritime Announces the Date for the First Quarter Ended March 31, 2024, Financial Results

Seanergy Maritime (NASDAQ: SHIP) And United Maritime (NASDAQ: USEA) Provide Financial Update To Shareholders

GLYFADA, GREECE / ACCESSWIRE / April 9, 2024 / Seanergy Maritime Holdings Corp. (NASDAQ:SHIP), a leading player in the global shipping industry, reported a fourth-quarter net profit of $10.8 million, a significant increase from $0.5 million in the previous year. The company's revenue also grew to $39.4 million compared to $28.5 million for the same quarter last year.

Seanergy Maritime (NASDAQ: SHIP) And United Maritime (NASDAQ: USEA) Provide Financial Update To Shareholders

United Maritime Announces Availability of its 2023 Annual Report on Form 20-F

GLYFADA, Greece, April 03, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (the “Company” or “United”) (NASDAQ: USEA) announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (the “Annual Report”) has been filed with U.S. Securities and Exchange Commission. The Annual Report may also be accessed through United's website, www.unitedmaritime.gr, at the “Investors” section under “Annual Reports”.

United Maritime Announces Availability of its 2023 Annual Report on Form 20-F

United Maritime Corporation (USEA) Q4 2023 Earnings Call Transcript

United Maritime Corporation (USEA) Q4 2023 Earnings Call Transcript

United Maritime Corporation (USEA) Q4 2023 Earnings Call Transcript

United Maritime Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2023 and Declares Cash Dividend of $0.075 Per Share

Highlights Quarterly Full Year (in million USD except EPS) Q4 2023 Q4 2022 FY 2023 FY 2022 1 Net Revenues $11.6 $14.9 $36.1 $22.8 Net (Loss) / Income ($0.7) $36.5 $0.2 $37.5 Adjusted Net (Loss) / Income2 ($0.6) $39.8 $2.8 $40.9 EBITDA2 $4.4 $38.9 $16.3 $41.8 Adjusted EBITDA2 $4.6 $42.3 $18.9 $45.2 (Loss) / Earnings per Share (EPS) Basic ($0.08) $4.86 $0.02 $7.79 (Loss) / Earnings per Share (EPS) Diluted ($0.08) $3.55 $0.02 $4.92 Adjusted (Loss) / Earnings per share Basic2 ($0.07) $5.36 $0.33 $8.54 Adjusted (Loss) / Earnings per share Diluted2 ($0.07) $3.90 $0.33 $5.39 Other Highlights and Developments: Quarterly cash dividend of $0.075 per share declared for Q4 2023, an 11% annualized dividend yield 3 Total cash dividends of $10.7 million, or $1.375 per share, declared since November 2022 representing approximately 45% of United's market capitalization 3 Total buybacks of approximately $6.7 million in common shares at an average price of $1.87 per share since Q3 2022 Total investments of $144 million 4 in 2023 for the acquisition of seven dry bulk vessels and $37.5 million proceeds from the sale of our last tanker vessel $30.0 million in refinancings completed in Q4 2023 adding $6.8 million in extra liquidity, with another $13.8 million sale and leaseback agreed in Q1 2024 Agreement to acquire a modern Japanese Kamsarmax, through an 18-month bareboat charter with purchase option GLYFADA, Greece, Feb. 20, 2024 (GLOBE NEWSWIRE) -- United Maritime Corporation (“United” or the “Company”) (NASDAQ: USEA), announced today its financial results for the fourth quarter and twelve months ended December 31, 2023. The Company also declared a quarterly cash dividend of $0.075 per common share for the fourth quarter of 2023.

United Maritime Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2023 and Declares Cash Dividend of $0.075 Per Share

United Maritime Announces the Date for the Fourth Quarter and Year Ended December 31, 2023, Financial Results, Conference Call and Webcast

Earnings Release: Tuesday, February 20, 2024, Before Market Open in New York Conference Call and Webcast: Tuesday, February 20, 2024, at 10:00 a.m. Eastern Time

United Maritime Announces the Date for the Fourth Quarter and Year Ended December 31, 2023, Financial Results, Conference Call and Webcast

Seanergy Maritime (NASDAQ: SHIP) Is Optimistic About The Future; United Maritime (NASDAQ: USEA) Posts Profit Surge for 3Q23, Both Companies Extend Shareholder Rewards

GLYFADA, GREECE / ACCESSWIRE / December 19, 2023 / In the third quarter, Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) faced challenges, reporting Net Revenues of $24.5 million and an Adjusted Net Loss of $2.6 million, primarily due to the underperformance of the dry bulk Capesize market. Market conditions were influenced by historically low port congestion and the efficient utilization of the Capesize fleet, leading to an excess supply of vessels.

Seanergy Maritime (NASDAQ: SHIP) Is Optimistic About The Future; United Maritime (NASDAQ: USEA) Posts Profit Surge for 3Q23, Both Companies Extend Shareholder Rewards

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