Toro Corp's (TORO, Financial) financial performance in the fourth quarter saw a year-over-year revenue dip, recording $5.2 million compared to $7.3 million in the same period last year. This downturn comes as the company underwent significant structural changes.
On April 14, 2025, Toro successfully executed the spin-off of its Handysize tanker division. This strategic decision involved distributing all common shares of Robin Energy Ltd., a newly formed entity, to shareholders who were on record as of April 7, 2025. This move was highlighted as a significant return of value to Toro’s shareholders.
The spin-off marks a pivotal shift in Toro Corp's business focus as it aims to streamline its operations and potentially enhance shareholder value in the long term.
