Toro Corp. announced its financial results for the three months and the full year ended December 31, 2024. For the fourth quarter, total vessel revenues from continuing operations were $5.2 million, a 28.8% decrease from $7.3 million in the prior year's quarter, with net income from continuing operations at $1.0 million.
For the full fiscal year 2024, Toro Corp. reported total revenue of $22.39 million and a net income of $25.21 million. This full-year net income was significantly influenced by $19.70 million from discontinuous operations, reflecting the company's strategic divestitures.
The company also confirmed the completion of the spin-off of its Handysize tanker business on April 14, 2025. Following this strategic reorientation, Toro Corp.'s fleet now consists of four 5,000 cbm LPG carrier vessels, sharpening its focus on the LPG carrier segment.
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