Heidmar Q2 Revenue Triples to $29M, Beats Estimates by 37%
HMR sits 85% above its 52-week low of $0.73.
Summary
Heidmar's Q2 revenue tripled year-over-year to $29M, beating the $21.16M consensus by 37%. EPS came in at $0.04 with net income of $2.2M. The growth was driven by fleet expansion—seven vessels added in Q2—and elevated tanker freight rates from geopolitical tensions and tonnage scarcity. The company completed the Q-Shipping B.V. acquisition after quarter-end, adding nine vessels and expected to be immediately accretive to management fee revenue. Management expects freight rates to remain elevated or strengthen into Q4 and Q1. This follows a 20-F filed in April that reported a $22.6M net loss and Nasdaq delisting risk, making this quarter's profitability a notable turnaround. The stock trades at 9x forward earnings with a median price target of $2.63, about 89% above the last close.
At the time of this announcement, HMR was trading at $1.35 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $82M. The 52-week trading range was $0.73 to $1.71. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.