Quarterly ResultMay 6, 2026, 08:02 AM
Navigator Holdings to Divest 8 Vessels for $183M; Boosts Capital Return Policy
AI Summary
Navigator Holdings Ltd. announced a non-binding letter of intent to sell eight gas carriers and its shareholding in Unigas International B.V. for approximately $183 million, with closing anticipated by Q4 2026. The company also revised its Capital Return Policy, increasing the capital return to 35% of net income, effective from the quarter ending June 30, 2026. For Q1 2026, the company reported net income of $35.5 million, up from $27.0 million year-over-year, and declared a $0.07 per share dividend. Operating revenues for the quarter decreased to $140.6 million from $151.4 million in Q1 2025.
Key Highlights
- Navigator Holdings signed LOI to sell 8 gas carriers and Unigas B.V. for ~$183M.
- Revised Capital Return Policy to return 35% of net income, up from 30%, effective Q2 2026.
- Q1 2026 Net Income attributable to stockholders increased to $35.5M from $27.0M YoY.
- Q1 2026 Basic EPS rose to $0.55 from $0.39 YoY, partly due to lower share count.
- Q1 2026 Operating Revenues decreased to $140.6M from $151.4M YoY.
- Declared a cash dividend of $0.07 per share for Q1 2026, payable June 10, 2026.
- Company repurchased 3.5 million shares for $61.2 million in March 2026.
- Ethylene Export Terminal joint venture reported a gain of $2.6M in Q1 2026 vs. loss of $0.9M YoY.