CMB.TECH Q2 Earnings Call Highlights

CMB.TECH Q2 Earnings Call Highlights Posted by Defense World Staff on Aug 29th, 2026 Share on Twitter Share on Facebook Share on LinkedIn Share on Stocktwits Get alerts: CMB.TECH (NYSE:CMBT) reported second-quarter 2026 net profit of $364.4 million, supported by revenue of more than $700 million and $127 million in gains from vessel sales, as shipping markets remained strong across several of the company’s operating segments. CEO Alexander Saverys said EBITDA reached $552 million during the quarter. Net finance expense declined 5% from the first quarter to $76 million, which he attributed to lower-cost refinancings and debt repayments. Liquidity stood at just under $400 million. The company said it had 206 vessels in operation and 26 newbuildings on order, with a contract backlog of $3.3 billion. Its fleet had an average age below six years. Saverys said the fair market value of the fleet was $11.2 billion, compared with a market capitalization of $5.2 billion. Dividend and Capital Spending CMB.TECH said it intends to distribute $0.64 per share, comprising an interim dividend of $0.21 per share and a $0.43-per-share payment from the share premium reserve, which the company said is exempt from withholding tax. During the question-and-answer session, Saverys said the company aims to continue rewarding shareholders at approximately the level achieved in the past two quarters, while retaining flexibility for investments and new projects. He said the company would maintain a discretionary dividend policy rather than formally changing its policy. Capital-expenditure commitments have fallen to less than $1 billion, with $890 million in remaining newbuilding installments. The company said most of that amount has already been financed, leaving $119 million of unfunded CapEx. By year-end, outstanding CapEx commitments are expected to be between $375 million and $390 million. Saverys said the company was nearing the end of a roughly two-and-a-half-year newbuilding investment plan. Based on its rate assumptions for 2027, including forward freight agreements and potential rate increases, CMB.TECH projected operational cash flow of $700 million to $1 billion after CapEx payments. He cautioned that the forecast would change if markets change. Asset Sales and Tanker Market Outlook The company took delivery of nine vessels during the second quarter and quarter to date: four Newcastlemax bulk carriers, one VLCC, two Suezmax tankers, one commissioning service operation vessel, or CSOV, and one crew transfer vessel. CMB.TECH also continued selling tankers into what Saverys described as historically high values for VLCCs and Suezmaxes. In the second quarter, it delivered the VLCCs Ilma and Ingrid to new owners, generating a $98 million capital gain. It also sold the older Suezmax Sienna , generating a $29 million gain. The company expects to record a further $100 million gain in the third quarter from the sale of two Suezmaxes, followed by an estimated $130 million gain in the fourth quarter from the sale of the VLCC Donoussa and another Suezmax. Saverys said CMB.TECH views current tanker prices as an opportunity to sell selected assets, particularly older vessels, but does not intend to broadly exit the sector. “It is really on a case-per-case basis,” he said, noting the company still has modern tanker assets and some charter coverage. While tanker freight markets are currently strong, management expressed greater caution about the expanding order book. CMB.TECH said the VLCC and Suezmax order book now exceeds 30% of the existing fleet, with 370 VLCCs and 250 Suezmaxes on order. Saverys said deliveries are manageable in 2026 but could become significant in 2027 and 2028, when the market could see one VLCC or Suezmax delivered every two days. The company reported second-quarter rates above $120,000 per day for its VLCCs and $123,000 per day for its Suezmaxes. Third-quarter-to-date bookings were approximately $120,000 per day for both vessel types.