Toro Corp. Q1 2026 Financial Results

Toro Corp. reported its financial results for the three months ended March 31, 2026. Total vessel revenues increased by 9.1% to $6.0 million compared to the same period in 2025. However, net income from continuing operations decreased by 66.7% to $0.5 million. The company reported a net loss per common share from continuing operations of $(0.023). EBITDA from continuing operations increased to $1.3 million. As of March 31, 2026, the company had $81.6 million in cash. Toro Corp. also announced a new up to $60.0 million revolving credit facility entered into on March 30, 2026. The company declared a special dividend of $1.75 per common share, paid on January 16, 2026, in the form of cash and common stock. The CEO, Petros Panagiotidis, highlighted solid operational performance and significant financial flexibility provided by the new credit facility.