TEN profits rise on tanker revenue growth

• TEN (NYSE:TEN) reported first-half 2026 net income of $213.5 million, up from $1.70 per share a year earlier.
• Voyage revenues increased to $551.4 million, while adjusted EBITDA rose to $324.1 million.
• Higher tanker charter rates drove results, with time charter equivalent rates reaching $43,503 per day in the first half.

TEN (NYSE:TEN) reported higher profits for the first half and second quarter of 2026, supported by increased tanker revenues and stronger charter rates.

For the six months ended June 30, 2026, voyage revenues increased to $551.4 million from $390.4 million a year earlier, while adjusted EBITDA rose to $324.1 million from $193.2 million.

Net income attributable to common shareholders increased to $213.5 million, or $7.12 per share, supported by vessel sale gains of $38 million and a 41% increase in time charter equivalent rates.

In the second quarter of 2026, TEN reported revenue of $298.4 million and net income attributable to common shareholders of $131.9 million, or $4.40 per share, as TCE rates increased 50% to $46,100 per day.

TEN ended the period with $466.1 million in cash, operated a fleet of 64 vessels, and reported a contracted revenue backlog of $3.6 billion.