Quarterly ResultMay 19, 2026, 05:21 PM
CMB.TECH Q1 Profit $368.8M, up from $40.4M YoY; EBITDA $558.3M
AI Summary
CMB.TECH reported significantly improved unaudited financial results for Q1 2026, with profit soaring to $368.8 million and EBITDA reaching $558.3 million, driven by a strong tanker market and strategic fleet management. The company also announced an intention to distribute $0.64 per share and expanded its contract backlog to $3.26 billion. Fleet developments included the delivery of 7 new vessels and the sale of 9 older vessels, contributing to substantial capital gains. The CEO highlighted strong spot market results and the benefits of a modern, eco-friendly fleet.
Key Highlights
- Profit for Q1 2026 was $368.8 million, a substantial increase from $40.4 million in Q1 2025.
- EBITDA for Q1 2026 reached $558.3 million, up from $158.4 million in Q1 2025.
- Basic earnings per share (EPS) for Q1 2026 were $1.27, compared to $0.23 in Q1 2025.
- Revenue for Q1 2026 was $519.6 million, up from $235.0 million in Q1 2025.
- Contract backlog increased by $109 million to $3.26 billion, including new Suezmax time charters.
- Intention to distribute $0.64 per share, comprising an interim dividend of $0.20 and a payment of $0.44 from share premium.
- Delivered 7 newbuilding vessels, including Newcastlemaxes, VLCCs, Suezmaxes, a Chemical tanker, and a CSOV.
- Sold 8 VLCCs and 2 Capesize vessels in Q1 2026, generating a capital gain of approximately $267.4 million.
- Q1 2026 average spot TCE rates: VLCC $70,204/day, Suezmax $91,849/day, Newcastlemax $28,120/day, Capesize $26,104/day.
Price Impact
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