6-K - Icon Energy Corp. | StockGist

AI Analysis

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Icon Energy Corp. provided a commercial update on its dry bulk fleet employment, Q1 2026 earnings guidance of $3.5-3.7 million net revenue (more than doubling Q1 2025 $1.5 million), driven by 63% higher average gross hire rates and 50% more Operating Days, and raised $6.9 million net proceeds from common share issuances.

Key Takeaways

1Fleet: Alfa (Panamax, index-linked time charter earliest expiration July 2026), Bravo (Kamsarmax, June 2026), Charlie (Ultramax, April-July 2026).

2Q1 2026 average gross hire rate expected ~$14,000 per day, up 63% from $8,600 per day in Q1 2025.

3Q1 2026 net revenue guidance $3.5-3.7 million, more than double $1.5 million in Q1 2025.

4Operating Days expected 50% year-on-year increase due to M/V Charlie addition in June 2025.

5Raised $6.9 million net proceeds in 2026 YTD via common shares under at-the-market program and standby equity purchase agreement at average $2.82 per share (188% premium to March 18, 2026 Nasdaq close).

6None of vessels operating in or en route to Strait of Hormuz as of March 19, 2026.

Current Report Details

Event Type

Securities Issuance

Disclosure

Voluntary

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Securities Issuance

Exhibits (2)

6-K

99.1

EXHIBIT 99.1