Toro (NASDAQ:TORO) has reported its financial results for the fourth quarter and full year ended December 31, 2025, a year characterized by significant corporate transformation and capital return initiatives.
The energy transportation provider recorded a full-year net income of $5.9 million, with $1.6 million earned during the fourth quarter.
Income from continuing operations stood at $5.6 million for the year and $1.4 million for Q4, as the company moved forward with a more focused fleet following recent divestitures.
The company ended 2025 in a strong liquidity position, reporting $87.4 million in cash and cash equivalents.
This fortified balance sheet supported a substantial return of capital to shareholders in early 2026.
On January 16, 2026, Toro completed the payment of a one-time special dividend of $1.75 per common share.
The dividend, which totaled approximately $37.5 million, was distributed through a combination of $9.3 million in cash and the issuance of over 7.3 million new common shares based on shareholder elections.
Structurally, 2025 was a landmark year for the firm due to the strategic spin-off of its Handysize tanker segment.
The transaction, which created the new Nasdaq-listed entity Robin Energy (NASDAQ:RBNE), was completed on April 14, 2025.
This move allowed Toro to streamline its operations and focus on its remaining energy transportation assets.
Despite the reduction in fleet size following the spin-off, Toro’s continuing operations generated an adjusted EBITDA of $6 million for the year.