Capital Clean Energy Carriers Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose 44% YoY to $138.1M and net income from continuing operations increased 52% to $34.6M, supported by fleet expansion. LNG spot markets softened, but management sees long-term shipping demand supported by U.S. supply growth and a 2028 market inflection.
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Q2 2026 saw strong operational and financial performance, with four vessel deliveries, revenue growth to $104.9 million, and net income of $29 million. The company maintains a robust contracted revenue backlog, solid liquidity, and is well positioned for future LNG and LPG market opportunities.
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Q1 2026 saw strong liquidity from a EUR 250M bond, a $2.9B LNG revenue backlog, and $18.3M net income, despite higher costs from vessel surveys and geopolitical risks. The company remains well-funded, with robust market demand for modern LNG and LPG tonnage.
Fiscal Year 2025
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Q4 2025 saw strong progress with new LNG carrier contracts, a robust cash position, and continued pivot to gas shipping. Geopolitical tensions in the Middle East have sharply increased LNG freight rates and market uncertainty.
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Q3 2025 saw strong progress on strategic goals, including a new 10-year LNG charter, sale of a container vessel, and full financing for all multi-gas newbuilds. Net income from continued operations was $23.1M, with a $0.15/share dividend declared. LNG market outlook remains robust, with tightening expected from 2027.
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Q2 2025 saw stable operations, strong cash position, and continued focus on LNG and gas transport. Record LNG carrier demolitions and low newbuild orders point to a tightening market, while robust demand is reflected in increased SPAs and tenders.
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Q1 2025 saw strong net income, major asset sales, and increased LNG charter backlog. The company maintains a robust cash position, a young fleet, and strong contract coverage, with market fundamentals supporting long-term growth.
Fiscal Year 2024
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Q4 2024 saw $20.8M net income, $72.2M in one-off gains from vessel sales, and a $0.15 dividend. LNG market faces short-term headwinds, but long-term fundamentals remain strong with a $2.5B revenue backlog and fleet growth planned through 2027.
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Strategic pivot to gas shipping drove strong Q3 results, with operating income and net income from continuing operations more than doubling year-over-year. Long-term charter coverage, robust liquidity, and a $2.6 billion revenue backlog underpin a positive outlook, despite short-term LNG spot market weakness.
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Q2 2024 saw a major corporate conversion, strong revenue and net income growth, and a strategic pivot to LNG and clean energy shipping. The company invested in new gas carriers, optimized its debt, and maintained a stable dividend, with a positive long-term outlook as new vessels deliver.