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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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C3is
C3is (CISS) investor relations material
C3is Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary27 Aug, 2026
Executive summary
Voyage revenues for Q2 2026 rose 124% year-over-year to $24 million, with net income swinging from a $5 million loss to nearly $10 million profit, reflecting a 287% increase.
For the first six months, revenues reached $35.6 million (up 84%), net income $13.2 million (up 409%), and adjusted net income $15.3 million (up 562%).
EBITDA for Q2 2026 was $12 million, up 426% year-over-year; for the half-year, EBITDA was $16.7 million, up 176%.
Fleet capacity increased 387% since inception, with two new product tankers delivered in 2026, expanding to six vessels.
No bank debt; cash balance at end of July 2026 was $48 million, up 222% from year-end 2025.
Financial highlights
Q2 2026 net revenues: $17 million, up 185% year-over-year; six-month net revenues up 132%.
Q2 2026 income from operations: $9.7 million, up 820% year-over-year.
Adjusted EBITDA for Q2 2026: $11.8 million, up 325%; for six months: $18.7 million, up 226%.
EPS for Q2 2026: $353.87; for six months: $483.39.
Net asset value per share for six months: $12.83; shares trading at a 380% discount to NAV.
Outlook and guidance
Management expects the second half of 2026 to mirror the strong first half, with expansion efforts projected to further boost profitability and financial strength.
Strategy focuses on disciplined growth, selective vessel acquisitions, and maintaining a high-quality, debt-free fleet.
CAPEX of $39.78 million due in January 2027 is fully covered by current cash balance.
Focus remains on short to medium-term charters and spot voyages to capitalize on strong market conditions.
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Latest events from C3is
- Strong indemnification, flexible offering structure, and experienced management team highlighted.CISS
Registration filing - Highly dilutive unit offering funds fleet growth but poses dilution and Nasdaq delisting risks.CISSRegistration filing
- Adjusted net income soared 358% year-over-year, with strong cash and fleet growth, and zero debt.CISSQ1 2026
- Net income rose 481% to $10.5M, EBITDA up 244%, and fleet capacity to expand 387% in 2026.CISSQ4 2025
- Net income rose to EUR 5.3M ($5.3M), EBITDA up 245%, and all vessels are debt-free and unencumbered.CISSQ3 2025
- Q2 2025 net loss was $5.3M, adjusted net income $1.1M, and the fleet is fully deleveraged.CISSQ2 2025
- Revenues and net income more than doubled, fleet capacity up 234%, and no bank debt.CISSQ3 2024
- Earnings and fleet capacity soared, with robust cash and no bank debt, supporting future growth.CISSQ2 2024
- Net income up 109% to $7.9–8M despite revenue drop; all capex funded debt-free, no tariff risk.CISSQ1 2025
Next C3is earnings date
Q3 202618 Nov, 2026
C3is
Next C3is earnings date
Q3 202618 Nov, 2026
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Frequently asked questions
C3is Inc. is a Greece-based company that provides international seaborne transportation services. The company primarily serves dry bulk charterers, including national and private industrial users, commodity producers, and traders. It operates a fleet consisting of two dry bulk carriers, which transport major bulks such as iron ore, coal, and grains, as well as minor bulks like bauxite, phosphate, and fertilizers. Additionally, C3is Inc. owns one Aframax crude oil tanker for transporting crude oil. The company is headquartered in Athens, Greece, and its shares are listed on the NASDAQ.