Quarterly ResultMay 22, 2026, 08:02 AM
Global Ship Lease Q1 Operating Revenue $198.1M; EPS $2.54
AI Summary
Global Ship Lease announced Q1 2026 unaudited results with operating revenue of $198.1 million and net income available to common shareholders of $91.4 million, or $2.54 EPS. The company declared a quarterly dividend of $0.625 per Class A common share and entered into agreements for the forward sale of three non-core ships for $52.0 million, anticipating a $25.0 million gain. GSL also reported 100% forward contract cover for 2026 and 86% for 2027, totaling $2.05 billion in contracted revenues.
Key Highlights
- Q1 2026 operating revenue was $198.1 million, up 3.7% from $191.0 million in Q1 2025.
- Q1 2026 net income available to common shareholders was $91.4 million, or $2.54 EPS.
- Declared a Q1 2026 dividend of $0.625 per Class A common share, to be paid June 3, 2026.
- Agreed to sell three non-core ships for an aggregate $52.0 million, with an anticipated gain of $25.0 million.
- Total contracted revenues reached $2.05 billion as of March 31, 2026, with a 2.6-year weighted average duration.
- Achieved 100% forward contract cover for 2026 and 86% for 2027.
- Q1 2026 Adjusted EBITDA was $133.2 million, up from $132.3 million in Q1 2025.
- Fleet utilization for Q1 2026 was 98.2%, up from 93.7% in Q1 2025.
Price Impact
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