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Pyxis Tankers Inc. - PXS STOCK NEWS

Welcome to our dedicated page for Pyxis Tankers news (Ticker: PXS), a resource for investors and traders seeking the latest updates and insights on Pyxis Tankers stock.

Pyxis Tankers Inc. (NASDAQ: PXS) is an international maritime transportation company specializing in the product tanker sector. Our core business is the seaborne transportation of refined petroleum products and other bulk liquids such as vegetable oils and organic chemicals. We own and operate a modern fleet of double-hull product tankers with a weighted average vessel age of just 4.9 years, as of December 31, 2015. This young fleet is employed under a mix of short- and medium-term charters, providing operational flexibility and enhanced earnings potential.

Our fleet currently includes six vessels: Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Northsea Alpha, Northsea Beta, and the newly acquired Konkar Asteri. Each of these vessels is “eco-modified” to be fuel-efficient, which aligns with our commitment to sustainable and cost-effective operations.

We are strategically positioned to expand our fleet opportunistically, thanks to our strong customer relationships and competitive cost structure. Our experienced management team and founder have interests that are well aligned with those of our shareholders, ensuring that company actions are in the best interest of all stakeholders.

Our financial condition remains robust, with available cash and short-term deposits amounting to almost $48 million. This liquidity, combined with potential bank debt, gives us the flexibility to pursue the acquisition of additional mid-sized vessels when favorable opportunities arise. In the short term, we aim to use free cash flow to increase balance sheet liquidity, repay debt, and repurchase common shares, further enhancing shareholder value.

Our common shares are listed on the NASDAQ Capital Market under the trading symbol 'PXS'. For the latest updates, financial results, and other relevant information, please visit our website at www.pyxistankers.com or contact our Chief Financial Officer, Henry Williams, at hwilliams@pyxistankers.com.

News

Pyxis Tankers Announces Filing of Form 20-F for the Year Ended December 31, 2023

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Pyxis Tankers Inc. announces the filing of Form 20-F for the year ended December 31, 2023. Shareholders can access the annual report on the company's website or request a hard copy free of charge. The report includes audited financial statements.
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Pyxis Tankers Announces Financial Results for the Three Months and Year Ended December 31, 2023

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Pyxis Tankers Inc. announced unaudited results for the three months and year ended December 31, 2023. Revenues, net were $13.2 million, with a $1.9 million decrease in TCE revenues. Net income for Q4 2023 was $21.6 million, a significant increase from $6.5 million in Q4 2022. The company sold one MR tanker and recognized a $17.1 million gain.
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Pyxis Tankers Announces Date for the Release of the Fourth Quarter and Year Ended 2023 Results and Related Conference Call & Webcast

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Pyxis Tankers Inc. (PXS) will release unaudited results for Q4 and year ended December 31, 2023, on March 14, 2024. A conference call to discuss the results will be held at 4:30 p.m. Eastern Time on the same day. Webcast and replay details are available on the company's website.
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Pyxis Tankers Announces Closing of Modern Dry Bulk Vessel Acquisition & Commercial Update

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Pyxis Tankers Inc. completes the acquisition of an eco-efficient dry bulk vessel, the 'Konkar Asteri', for $26.625 million. The vessel is fitted with a ballast water treatment system and scrubber. The purchase was funded by bank debt and cash on hand. As of December 31, 2023, total cash would have been $45.6 million, and funded debt $76.0 million. The Chairman and CEO provided a commercial update, stating a preliminary daily average time charter equivalent charter rate of approximately $30,500 per MR for the fourth quarter of 2023. The company operates three medium range product tankers and expects to employ dry bulk vessels under a mix of time charters and spot voyages.
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Pyxis Tankers Announces Closing of the Sale of 2015 Built Tanker

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Pyxis Tankers Inc. (NASDAQ: PXS) has announced the successful closing of the sale of the Pyxis Epsilon, a 2015 built 50,295 dwt MR product tanker. The company received approximately $26.8 million in net cash proceeds after repayment of a loan secured by the vessel and associated transaction costs.
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Pyxis Tankers Announces Agreement to Acquire Modern Dry Bulk Vessel

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Pyxis Tankers Inc. (PXS) has announced the acquisition of an 82,013 dwt dry bulk vessel built in 2015 at Jiangsu New Yangzi Shipbuilding for $26.625 million. The purchase is expected to be funded by a combination of bank debt and cash, with completion anticipated by February, 2024.
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Pyxis Tankers Announces Financial Results for the Three Months Ended September 30, 2023

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Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS) announced unaudited results for the three and nine month periods ended September 30, 2023. Revenues, net were $11.1 million, TCE revenues were $9.3 million, net income was $3.1 million, and Adjusted EBITDA was $5.5 million. The company closed on a $6.8 million equity investment in a joint venture and announced the sale of the vessel 'Pyxis Epsilon' for $40.75 million. The company expects to recognize a non-cash gain from asset disposition of approximately $17.1 million in the fourth quarter of 2023.
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Pyxis Tankers Announces Date for the Release of the Third Quarter 2023 Results and Related Conference Call & Webcast

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Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS) announced the release of their unaudited results for the third quarter ended September 30, 2023, scheduled for Monday, November 20, 2023. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results, with details provided for participant dial-in and webcast access. A telephonic replay will be available until Monday, November 27, 2023.
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Pyxis Tankers Inc. to Present at The ThinkEquity Conference

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Pyxis Tankers Inc. to participate in The ThinkEquity Conference
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Pyxis Tankers Announces Sale of Product Tanker

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Pyxis Tankers Inc. agrees to sell vessel Pyxis Epsilon for $40.75 million in cash to a US buyer, expecting to receive cash proceeds of $26.4 million after repayment of debt and transaction costs. Expects to recognize a non-cash gain of $16.8 million or $1.57 per share. Sale increases cash position and financial flexibility for potential vessel purchases and strategic initiatives.
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FAQ

What is the current stock price of Pyxis Tankers (PXS)?

The current stock price of Pyxis Tankers (PXS) is $3.56 as of December 20, 2024.

What is the market cap of Pyxis Tankers (PXS)?

The market cap of Pyxis Tankers (PXS) is approximately 38.5M.

What does Pyxis Tankers Inc. specialize in?

Pyxis Tankers specializes in the seaborne transportation of refined petroleum products and other bulk liquids.

What kind of vessels does Pyxis Tankers operate?

Pyxis Tankers operates a modern fleet of double-hull product tankers with eco-modifications for fuel efficiency.

Where is Pyxis Tankers Inc. listed?

Pyxis Tankers Inc. is listed on the NASDAQ Capital Market under the trading symbol 'PXS'.

Who can I contact for more information about Pyxis Tankers?

For more information, contact Henry Williams, the Chief Financial Officer, at hwilliams@pyxistankers.com.

What is the average age of Pyxis Tankers' fleet?

As of December 31, 2015, the average age of Pyxis Tankers' fleet is 4.9 years.

How does Pyxis Tankers plan to grow its fleet?

Pyxis Tankers plans to grow its fleet by opportunistic acquisitions, leveraging its strong customer relationships and competitive cost structure.

How does Pyxis Tankers enhance shareholder value?

Pyxis Tankers enhances shareholder value by using free cash flow to increase liquidity, repay debt, and repurchase common shares.

What products do Pyxis Tankers' vessels transport?

Pyxis Tankers' vessels transport refined petroleum products like gasoline, jet fuel, diesel, and bulk liquids such as vegetable oils and organic chemicals.

How can I access the latest financial results of Pyxis Tankers?

The latest financial results and updates can be accessed through the company's website at www.pyxistankers.com.

What is the strategic focus of Pyxis Tankers?

Pyxis Tankers focuses on expanding its fleet of medium range product tankers to maximize operational flexibility and earnings potential.

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Pyxis Tankers Inc.

Nasdaq:PXS

PXS Rankings

#5014 Ranked by Market Cap
N/A Ranked by Dividends

PXS Stock Data

38.52M
4.56M
56.83%
2.2%
0.84%
Oil & Gas Midstream
Energy
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United States of America
Maroussi