Globus Maritime Shares Rise After Swing to Profit, Higher Rev in 2Q

Dow Jones09-13

By Connor Hart

Shares of Globus Maritime rose after the company swung to a profit and posted higher revenue in the second quarter.

The stock was up 8.2% to $1.84 in after-hours trading Thursday. Shares ended the regular session 12% higher, at $1.70, and down 36% since the beginning of the year.

The dry-bulk shipping company, based in Greece, after the bell reported a profit of $3.28 million, or 16 cents a share, compared with a loss of $1.16 million, or 6 cents a share, a year earlier.

Revenue rose 21% to $9.52 million.

Globus said it has increased its shipping capacity this year, having so far taken delivery of two ships. It expects to take delivery of a third ship shortly and currently has two ships being built, expected to be delivered in 2026.

The company in the recent quarter sold one of its ships to an undisclosed buyer for a gross price of $11.5 million.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 12, 2024 17:21 ET (21:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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