TEN, Ltd. Reports Profits for the First Half and Second Quarter of 2026
TEN, Ltd. delivered record first-half 2026 results, with gross revenues of $551.4 million (up $161.0 million YoY) and net income of $228.1 million, or $7.12 per share — a 318% increase from $1.70 a year earlier. Q2 net income reached $139.3 million, or $4.40 per share, up more than 500% from $0.67, on revenue of $298.4 million (up 54% YoY) as average TCE rates rose 50% to $46,100 per vessel per day. Both periods include $38 million in capital gains from vessel sales.
Key figures
- Eps
- 4.4
- Revenue
- 551367000
- Revenue Yoy
- Q2 +54% YoY; H1 up $161.0 million vs H1 2025
- Cash
- 466143000
- H1 eps
- 7.12
- Bank debt
- $2.0 billion
- H1 eps yoy
- +318%
- Q2 revenue
- 298405000
- H1 net income
- 228142000
- Q2 net income
- 139300000
- Tce per day h1
- 43503
- Tce per day q2
- 46100
- Pro forma fleet
- 81 vessels, approx. 10.5 million dwt
- H1 eps prior year
- 1.7
- Q2 eps prior year
- 0.67
- Adjusted ebitda h1
- 324145000
- Adjusted ebitda q2
- 170368000
- Fleet utilization h1
- 96.5%
- Capital gains included
- 38000000
- Dividends per share 2026
- $1.50
- Vessel sale net proceeds
- $100 million
- Minimum contracted revenue
- 3600000000
- Vessels under construction
- 26
- Anfield dp expected charter revenue
- $500 million
AI analysis
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