Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (“we”, “our”, “us”, the “Company” or “Pyxis Tankers”), an international shipping company, today announced unaudited results for the three months ended March 31, 2024. For the three months ended March 31, 2024, our Revenues, net were $11.
8 million. For the same period, our time charter equivalent (“TCE”) revenues were $10.2 million, an increase of $0.
9 million, or 10.2%, over the comparable period in 2023. Our net income attributable to common shareholders for the first quarter ended March 31, 2024, was $3.
4 million. For the first quarter of 2024, the net income per common share was $0.33 basic and $0.
30 diluted compared to the net income per common share of $0.81 basic and $0.71 diluted for the same period in 2023.
Our Adjusted EBITDA for the three months ended March 31, 2024, was $6.0 million, an increase of $1.8 million over the comparable period in 2023.
Please see “Non-GAAP Measures and Definitions” below. On February 15, 2024, we took delivery, from an unaffiliated third party, of an 82,013 dwt dry-bulk vessel built in 2015 at Jiangsu New Yangzi Shipbuilding. The $26.
625 million purchase (MOA agreed in November 2023) of the eco-efficient Kamsarmax, fitted with a ballast water treatment system and scrubber, was funded by a combination of secured bank debt of $14.5 million and cash on hand. The five year amortizing bank loan is priced at Term SOFR +2.
35% and is secured by, among other things, the vessel.
