Quarterly ResultJun 29, 2026, 04:26 PM
TMD Energy H1 2026 Net Loss $8.5M; Revenue Down 22.5%
AI Summary
TMD Energy Ltd reported a net loss of $8.5 million for the first half of fiscal year 2026, a significant decline from a net income of $0.9 million in the prior-year period. Total revenues decreased by 22.5% to $247.6 million, primarily due to lower demand for marine fuels, geopolitical uncertainties, and a 16% drop in global oil prices. Gross profit plummeted by 93.8% to $0.7 million, impacted by competitive market pressures and increased operational costs. The company also announced a two-year extension of its partnership with Double Corporate Sdn Bhd to explore sustainable waste-based biofuels.
Key Highlights
- Reported H1 2026 net loss of $8.5 million, down from $0.9 million net income YoY.
- Total revenues decreased 22.5% to $247.6 million for H1 2026.
- Gross profit declined 93.8% to $0.7 million, with margin at 0.3%.
- Bunkering services revenue decreased 22.6% to $247.1 million.
- Total bunkered volume decreased 10.1% to 516,676 metric tons.
- Extended partnership with Double Corporate Sdn Bhd for sustainable biofuels for two years.
- Loss per share was $(0.35) for H1 2026.
Price Impact
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