Norway · Delayed Price · Currency is NOK Himalaya Shipping Earnings Call Transcripts
Fiscal Year 2026
-
Q1 2026 saw a return to profitability with $5M net profit and $24.5M EBITDA, driven by higher TCE earnings and strong market conditions. Cash distributions continued, and the fleet remains largely exposed to spot rates to capture upside.
Fiscal Year 2025
-
Q4 2025 saw net profit surge to $13.5M and revenues rise to $42.1M, driven by higher charter rates and operational efficiency. The fleet maintained strong premium performance, and market conditions remain favorable with low order books and robust demand.
-
Q3 2025 saw net profit of $9.5M and EBITDA of $29.3M, with six vessels fixed at strong rates and full spot exposure planned for 2026. Market conditions remain favorable, with record-low order books and robust demand for iron ore and bauxite.
-
Q2 2025 saw lower net profit and revenues year-over-year, but strong operational cash flow and continued premium vessel performance. Uplisting, dividend distributions, and a favorable market outlook—driven by new supply and emission regulations—support future upside.
-
Q1 2025 saw a net loss of $6.4 million, lower revenues, and reduced charter rates, but the fully delivered fleet achieved strong operational premiums and declared steady dividends. Market fundamentals remain favorable, with high utilization and low fleet supply.
Fiscal Year 2024
-
Q4 2024 saw lower revenues and earnings due to weaker BCI rates, but the fleet remains fully employed on index-linked charters with strong premiums. Management expects market improvement, supported by rising bauxite and iron ore exports and a tight supply outlook.
-
Q3 2024 saw strong revenue and earnings growth, driven by full fleet deployment and premium index-linked charters. The company maintained robust dividend payments and capital discipline, while market fundamentals point to continued upside due to limited fleet growth and strong demand.