Norway · Delayed Price · Currency is NOK Stainless Tankers ASA Earnings Call Transcripts
Fiscal Year 2026
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Total return since inception reached 53.6%, with 62% of initial capital returned to shareholders. Q1 saw improved utilization, higher EBITDA, and a narrowed net loss, while strong market rates and Atlantic Basin positioning support a positive outlook.
Fiscal Year 2025
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Q4 saw lower revenue and EBITDA due to vessel sale and dry dockings, resulting in a net loss. Dividend yield remains strong at 13%, with 60% of initial capital returned. TCE rates are expected to recover, and fleet growth is balanced by high scrapping and delivery slippage.
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Q3 saw higher revenue and EBITDA driven by improved utilization, despite softer rates and a smaller fleet. Dividends remain a focus, with a new minimum set, and 54% of initial capital returned to investors. Market outlook is cautiously optimistic amid ongoing geopolitical and supply challenges.
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NAV reached $73.4 million with a 22% annualized dividend yield and over 45% of IPO proceeds returned. Net income declined to $2.8 million due to lower utilization, but market outlook remains optimistic with expected rate increases and tight shipyard capacity.
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Q1 2025 saw lower earnings due to weak pool rates, but net income rose to $4.4M, aided by vessel sales. Dividends remain strong, with a special payout following asset disposals, and management expects rate recovery amid ongoing geopolitical and operational risks.
Fiscal Year 2024
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Q4 net income fell 19% sequentially to $3.8M on lower pool earnings, but March bookings and 2025 guidance point to rates above $20,000/day. Five vessel dockings and two asset sales will drive capital returns, with a 22% annualized dividend yield maintained.
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Q3 2024 saw stable financials with NAV at $7.53/share and a 76% total return since inception. Dividend remains at $0.275/share, with strong COA coverage and market rates rebounding above $20,000/day, supporting a 22% yield outlook.
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Q2 saw strong financial performance with revenue up 12% and net income up 52% sequentially, driven by robust pool earnings and higher vessel values. NAV rose to $7.59 per share, and a dividend of $0.275 per share was declared. Market outlook remains positive but cautious amid global uncertainties.