Shipping firm C3is Q2 revenue dips, net loss at $5.3 mln

ReutersSep 2, 2025 1:20 PM

Overview

C3is Q2 revenue dips slightly to $10.7 mln, net loss of $5.3 mln
Adjusted net income for Q2 down 62% yr/yr, adjusted EBITDA down 43%
Co completed major capital expenditures without bank loans, enhancing financial flexibility

Outlook

Company highlights financial flexibility due to being fully deleveraged

Result Drivers

TCE RATE DECLINE - Daily TCE decreased by 31% compared to Q2 2024, impacting revenue
IDLE DAYS - Fleet operational utilization dropped to 78% due to idle days of Aframax tanker in spot market
EXPENSE INCREASE - Higher voyage and operating expenses due to increased number of vessels

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue		$10.70 mln
Q2 Net Income		-$5.30 mln
Q2 Basic EPS		-$8.78
Q2 EBITDA		-$3.70 mln

Press Release: ID:nGNX8Y4hbJ

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