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Gulf Marine Services
Gulf Marine Services (GMS) investor relations material
Gulf Marine Services H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary7 Sep, 2026
Executive summary
Adjusted revenue fell 3% year-over-year to $84.1m, mainly due to Gulf conflict disruptions and vessel redeployments.
Net loss of $14.8m (vs. $3.9m profit in H1 2025) driven by a $22.7m impairment and lower EBITDA.
Average fleet utilisation dropped to 75% (from 87%), but average day rates rose 7% to $37.4k.
Expansion into Latin America and Africa, with new contracts expected to boost H2 2026 results.
Financial highlights
Adjusted EBITDA declined 14% to $43.8m; adjusted net profit down 51% to $6.9m.
Gross profit plummeted to $2.0m (from $35.9m), mainly due to impairment and conflict impacts.
Adjusted EPS was $0.60 (vs. $1.26); diluted EPS $0.59 (vs. $1.23).
Operating cash flow rose to $44.9m; capital expenditure surged to $58.8m due to vessel acquisition.
Outlook and guidance
FY2026 adjusted EBITDA guidance reaffirmed at $105–115m, assuming no further Gulf escalation.
H2 2026 expected to recover on Latin America expansion and redeployment of a large vessel in Europe.
Secured backlog increased to $659m as of August 2026, reflecting strong contract wins.
Shareholder distribution policy remains deferred pending geopolitical clarity.
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Latest events from Gulf Marine Services
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Investor presentation - Strong revenue growth, reduced leverage, and a $660m backlog drive future expansion.GMSInvestor presentation
- Double-digit revenue and EBITDA growth achieved amid Gulf disruptions; leverage improved.GMSH2 2025
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- H1 2025 saw higher revenue, lower debt, and a $474m backlog, with shareholder returns ahead.GMSInvestor update
- Revenue up 9% to $80.7M, net profit down 15%, leverage ratio improved to 2.62x.GMSH1 2024
- Revenue up 10%, EBITDA up 15%, net leverage at 2.0x, and strong 2025 outlook.GMSH2 2024
Gulf Marine Services
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Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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