CMB.Tech reported second-quarter 2026 earnings that exceeded Wall Street estimates, driven by robust shipping demand and asset sales. The company posted net profit of $364.4 million, up from the prior quarter, while revenue reached $703.94 million, surpassing the $580.81 million forecast by 21.2%. Earnings per share came in at $1.26, exceeding the $0.8847 estimate by 42.42%.
The company’s EBITDA totaled $552 million, while net finance expenses declined by 5% quarter-over-quarter to $76 million, reflecting lower refinancing costs and debt repayments. Liquidity stood at approximately $400 million, with adjusted equity to total assets rising to 51.5%, above the company’s 50% target. The fleet’s fair market value reached $11.2 billion, with a market capitalization of $5.2 billion.
CMB.Tech declared a $0.64 per share dividend, split into a $0.21 interim payment and a $0.43 distribution from share premium reserves. The dividend yield stood at 4.32%, marking the 12th consecutive year of payouts. The company maintained a 50% payout ratio, including gains from vessel sales.
The shipping operator took delivery of nine newbuild vessels during the quarter, including four Newcastlemaxes, one VLCC, two Suezmaxes, and additional specialized units. Asset sales generated $127 million in capital gains, with further sales planned for the third and fourth quarters totaling $230 million. Capital expenditure commitments for newbuilds and retrofits remain at $890 million, with $119 million unfunded through 2029.
Management warned of a potential oversupply in the VLCC and Suezmax segments, with the order book-to-fleet ratio exceeding 30% for 2027-2028 deliveries. CEO Alexander Saverys highlighted strong market conditions, stating that the company aims to reward shareholders while asset prices remain elevated. The company also secured a framework agreement with Fortescue covering 12 vessels, including ammonia-ready units.
Shares rose 2.64% to $15.58 in premarket trading, extending a 135.6% total return over the past year. The stock has traded between $6.85 and $15.9 over the past 52 weeks.
