PXS Pyxis Tankers Inc.
Price Chart
Executive Summary
Pyxis Tankers reported Q1 2026 earnings with net income of $2.4M ($0.23/share), up from $0.8M ($0.07/share) in Q1 2025, and revenue of $10.0M (+3.9% YoY). The beat was driven by strong dry-bulk charter rates (+50.6% TCE/day) and higher fleet utilization (95.4% vs 88.7%), partially offset by a 19.7% decline in MR tanker TCE rates. The company has $55.7M in cash/short-term investments and a $45M undrawn 'Hunting License' facility, with $2.1M remaining under its buyback program. A director resigned for personal reasons.
Actionable Insight
The sharp earnings beat versus the prior year and strong forward fixture rates ($21,850/day MR, $19,130/day dry-bulk for Q2) suggest continued momentum. Watch for dry-bulk charter renewals in May 2026 (three vessels rolling) and the Pyxis Karteria time charter expiring in Aug-Nov 2026. The $45M undrawn facility provides optionality for fleet growth or further buybacks.
Key Facts
- Q1 2026 revenue $10.0M vs $9.6M YoY (+3.9%)
- Net income attributable to common shareholders $2.4M vs $0.8M YoY (+200%)
- EPS $0.23 basic/diluted vs $0.07 YoY
- Adjusted EBITDA $5.4M vs $3.5M YoY (+54%)
- MR tanker daily TCE $18,944 vs $23,593 YoY (-19.7%)
- Dry-bulk daily TCE $19,601 vs $13,013 YoY (+50.6%)
- Total fleet utilization 95.4% vs 88.7% YoY
- Cash and short-term investments $55.7M at March 31, 2026
- Total funded debt $85.2M, weighted avg interest rate 5.65%
- Share repurchases of $0.59M in Q1 2026 plus $0.08M post-quarter; $2.1M remaining under program
- Director Basil G. Mavroleon resigned May 18, 2026 for personal reasons
Financial Impact
Net income tripled to $2.4M on 3.9% revenue growth, with adjusted EBITDA up 54% to $5.4M. MR tanker weakness was more than offset by strong dry-bulk performance and cost controls.
Risk Factors
- MR tanker TCE rates declined 19.7% YoY, signaling sector weakness that could persist
- Three dry-bulk vessels have charters expiring in May 2026, creating near-term re-contracting risk
- Geopolitical risk from Middle East operations (Pyxis Karteria in Persian Gulf)
- CEO/Chairman beneficially owns 58.7%, limiting public float and liquidity
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-025165 |
| Exhibit: ex99-1.htm | 0001493152-26-025165 |
| Document: form6-k.htm | 0001493152-26-025165 |
| Document: 0001493152-26-025165-index-headers.html | 0001493152-26-025165 |
| Document: 0001493152-26-025165-index.html | 0001493152-26-025165 |
| Document: 0001493152-26-025165.txt | 0001493152-26-025165 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 26, 2026
18d ago
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6-K
| $4.75 $4.24 | ▼ −10.74% | ▼ −11.95% | $4.62 (−2.74%) |
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May 18, 2026
25d ago
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Press Release
| $4.49 $4.79 | ▲ +6.68% | ▲ +4.43% | $4.62 (+2.90%) |
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Apr 24, 2026
7w ago
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6-K
| $4.54 $4.63 | ▲ +1.98% | ▲ +1.58% | $4.62 (+1.76%) |
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Apr 24, 2026
7w ago
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Press Release
| $4.54 $4.63 | ▲ +1.98% | ▲ +1.58% | $4.62 (+1.76%) |
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Apr 10, 2026
9w ago
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6-K
| $4.45 $4.44 | ▼ −0.22% | ▼ −4.73% | $4.62 (+3.82%) |
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Apr 1, 2026
10w ago
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Press Release
| $4.40 $4.45 | ▲ +1.14% | ▼ −2.48% | $4.62 (+5.00%) |
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Apr 1, 2026
10w ago
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20-F
| $4.40 $4.45 | ▼ −1.14% | ▲ +2.48% | $4.62 (−5.00%) |
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Mar 5, 2026
14w ago
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Press Release
| $3.94 $3.88 | ▼ −1.52% | ▲ +0.71% | $4.62 (+17.26%) |
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Mar 3, 2026
14w ago
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Press Release
| $4.23 $3.89 | ▼ −8.04% | ▼ −6.70% | $4.62 (+9.22%) |
US Market Status
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