Pyxis Tankers Swings to Q2 Profit, TCE Rates Jump 30%
PXS has more than doubled off its 52-week low of $2.56.
Summary
Pyxis Tankers reported Q2 2026 net income of $2.8 million, or $0.27 per share, reversing a $2.0 million loss a year ago. Revenue rose 32.6% to $12.1 million, driven by a 57.7% surge in dry-bulk TCE rates to $20,245/day and a 5.9% increase in MR tanker rates. Adjusted EBITDA jumped to $6.5 million from $1.2 million. The company provided strong forward guidance: 87% of Q3 available days are contracted at an average TCE of $22,250/day, with MR tankers fully booked at $22,000/day. This follows the June 24 news of the Pyxis Karteria safely transiting the Strait of Hormuz, and the $18.3 million convertible preferred offering priced in late June. The results confirm a sharp earnings inflection, and the forward fixture data suggests continued strength into Q3.
At the time of this announcement, PXS was trading at $5.49 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $54.8M. The 52-week trading range was $2.56 to $5.55. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.