Welcome to our dedicated page for Toro news (Ticker: TORO), a resource for investors and traders seeking the latest updates and insights on Toro stock.
Toro Corp. (NASDAQ: TORO) is described in its public communications as a global and international energy transportation services provider, acquiring, owning, chartering and operating oceangoing tanker vessels and LPG carriers for the seaborne transportation of crude oil and refined petroleum products. The TORO news feed on Stock Titan aggregates company-issued press releases and other coverage that reflect Toro’s operating performance, fleet changes, capital allocation and corporate actions.
Investors following TORO news can see regular earnings announcements detailing vessel revenues from continuing operations, net income, non-GAAP measures such as EBITDA and Daily TCE Rate, and commentary on how fleet composition and charter rates affect results. Toro’s news also highlights vessel acquisitions and sales, including MR (MR2 class) tankers like M/T Wonder Altair and M/T Wonder Maia and LPG carriers such as Dream Terrax, Dream Arrax, Dream Syrax and Dream Vermax, along with associated time charter contracts and charter rates.
Beyond operating updates, Toro’s releases cover capital and financing developments, such as the spin-off of its Handysize tanker segment to Robin Energy Ltd., the provision and repayment of a senior term loan facility to Castor Maritime Inc., investments in Castor’s preferred shares, and the subsequent full redemption of those preferred shares. News items also describe corporate actions including a tender offer for Toro common shares, the declaration of a one-time special dividend payable in cash or shares, and the establishment of an at-the-market (ATM) equity offering program.
Governance and regulatory disclosures appear in TORO news as well, including notices and results of annual general meetings of shareholders, auditor appointments and the role of independent and disinterested directors and special committees in reviewing related-party transactions. For readers tracking Toro’s energy transportation business, this news page provides a consolidated view of the company’s reported financial performance, fleet strategy and key board-level decisions over time.
Toro Corp. (NASDAQ: TORO) reported Q1 2025 financial results with net income of $1.6 million, down 92.8% from $22.1 million in Q1 2024. Total vessel revenues decreased 14.1% to $5.5 million, while EBITDA from continuing operations was $1.0 million.
The company's cash position strengthened to $92.7 million as of March 31, 2025, up from $37.2 million in December 2024. Key developments include the full repayment of a $100 million loan from Castor Maritime, acquisition of a 2021-built MR tanker for $36.25 million, and announcement of a share repurchase tender offer for 4.5 million shares at $2.75 per share.
The company also agreed to sell its LPG Dream Syrax vessel for $18.0 million and completed the spin-off of its Handysize tanker segment to Robin Energy Ltd. The fleet earned an average Daily TCE Rate of $11,480 during Q1 2025, compared to $13,048 in Q1 2024.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced a self tender offer to purchase up to 4,500,000 shares at $2.75 per share using available cash and cash equivalents. The tender offer will expire on August 7, 2025, unless extended or withdrawn.
The Company's Board of Directors initiated this share repurchase program based on Toro's current cash position and stock price. The tender offer is not contingent on a minimum number of shares being tendered. Toro has appointed Broadridge Corporate Issuer Solutions LLC as the depositary and Georgeson LLC as the information agent for the tender offer.
Currently, Toro operates a fleet of four LPG carriers (with M/T Dream Syrax scheduled for sale) and has an agreement to acquire one MR tanker.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced the sale of its LPG carrier vessel Dream Syrax to a subsidiary of Robin Energy Ltd. for $18 million. The 2015-built 5,000 cbm vessel sale was approved by independent board members, as Robin Energy is controlled by Toro's Chairman and CEO.
Following this transaction, Toro's fleet will consist of three LPG carriers and one MR tanker (pending acquisition announced on June 11, 2025). The vessel delivery is expected during Q3 2025, subject to customary closing conditions.
Toro Corp (NASDAQ: TORO), an international energy transportation services company, has announced the filing of its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report, containing audited consolidated financial statements for the fiscal year ended December 31, 2024, is now available on both the SEC website and Toro's corporate website.
The company, which specializes in LPG carrier operations, currently maintains a fleet of four 5,000 cbm LPG carrier vessels that transport petrochemical gases worldwide. Shareholders can request a complimentary hard copy of the Annual Report by contacting the company via email at ir@torocorp.com.
Toro Corp (NASDAQ: TORO) reported financial results for Q4 and full-year 2024, showing mixed performance. Q4 net income declined 96.5% to $1.0 million compared to $28.2 million in Q4 2023, while vessel revenues dropped 28.8% to $5.2 million.
For the full year 2024, the company achieved net income of $25.2 million, down 82.1% from 2023. Total vessel revenues slightly increased by 0.4% to $22.4 million. Key transactions include providing a $100 million senior term loan to Castor Maritime and purchasing 50,000 Castor Series D Preferred Shares for $50 million.
The company completed the spin-off of its Handysize tanker business to Robin Energy on April 14, 2025. As of December 31, 2024, Toro maintained $37.2 million in cash and restricted cash, down from $155.6 million year-over-year. The company's fleet of LPG carriers earned an average Daily TCE Rate of $10,724 in Q4 2024, compared to $13,139 in Q4 2023.
Toro Corp. (NASDAQ: TORO) has announced key dates for the spin-off of its Handysize tanker business through its wholly owned subsidiary, Robin Energy Shareholders will receive one Robin common share for every eight Toro common shares held at the close of business on April 7, 2025 (Record Date), with distribution expected around April 14, 2025.
The spin-off completion is contingent on Robin's registration statement (Form 20-F) being declared effective and approval for listing on the Nasdaq Capital Market. Toro Corp. currently operates a fleet of five vessels with a total capacity of 0.1 million dwt, comprising one Handysize tanker and four 5,000 cbm LPG carriers, providing international energy transportation services.
Toro Corp. (NASDAQ: TORO) has announced plans to spin off its Handysize tanker business into a new company called Robin Energy . Toro shareholders will receive one Robin common share for every eight Toro common shares held. The spin-off includes one Handysize tanker and Xavier Shipping Co.
The strategic move aims to create two distinct businesses, allowing each to focus on their respective sectors. Petros Panagiotidis, Toro's current Chairman and CEO, will lead Robin Energy in the same capacity. The transaction is pending SEC registration statement approval and Nasdaq Capital Market listing.
Toro currently operates a fleet of five vessels with 0.1 million dwt capacity, consisting of one Handysize tanker and four 5,000 cbm LPG carriers. The spin-off is designed to enhance operational efficiencies and facilitate strategic expansion while giving shareholders flexibility in their shipping sector investments.
Toro Corp. (NASDAQ: TORO) has announced two significant financial transactions with Castor Maritime Inc. First, Toro will provide a $100 million senior term loan facility to Castor, secured by 10 vessels valued at approximately $235 million. The loan has a 5-year term with an interest rate of SOFR plus 1.80% per annum.
Additionally, Toro has agreed to increase its investment in Castor's Series D Preferred Shares by 50,000 shares for $50 million in cash, bringing its total holdings to 100,000 Series D Preferred Shares. Both transactions were approved by independent board members and special committees, with guidance from an independent financial advisor.
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