Quarterly ResultMay 21, 2026, 06:17 AM
Himalaya Shipping Q1 Net Income $5.0M; Revenue +52.7% to $33.6M
AI Summary
Himalaya Shipping Ltd. reported strong preliminary unaudited results for Q1 2026, with net income turning positive to $5.0 million from a loss in the prior year, and total operating revenues increasing by 52.7% to $33.6 million. The company achieved average TCE earnings of $32,300 per day and declared total cash distributions of $0.18 per share for the quarter. Management maintains a positive long-term outlook for large dry bulk ships, citing healthy demand and a favorable tonnage balance.
Key Highlights
- Net income for Q1 2026 was $5.0 million, a significant improvement from a $6.4 million loss in Q1 2025.
- Total operating revenues increased by 52.7% to $33.6 million in Q1 2026 from $22.0 million in Q1 2025.
- EBITDA rose by 77.5% to $24.5 million in Q1 2026, up from $13.8 million in Q1 2025.
- Achieved average time charter equivalent (TCE) earnings of $32,300 per day in Q1 2026.
- Declared total cash distributions of $0.18 per common share for Q1 2026.
- Increased ownership in 2020 Bulkers Management AS from 40% to 54% for NOK 1.1 million.
- Achieved TCE earnings of approximately $41,600 per day for April 2026.
- Cash break-even reduced to $24,400 per vessel, per day after scrubber financing repayment.
Price Impact
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