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Icon Energy (ICON) investor relations material
Icon Energy Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 139% year-over-year to $3.6 million in Q1 2026, driven by fleet expansion and higher charter rates.
Net income for Q1 2026 was $0.4 million, a turnaround from a $3.0 million loss in Q1 2025.
EBITDA improved to $2.2 million from a negative $0.7 million year-over-year.
Fleet expanded to three vessels, with high utilization (99.9%) and increased operating days.
Financial highlights
Revenue: $3.6 million in Q1 2026 vs. $1.5 million in Q1 2025.
Net income: $0.4 million in Q1 2026 vs. $3.0 million loss in Q1 2025.
EBITDA: $2.2 million in Q1 2026 vs. negative $0.7 million in Q1 2025.
Daily TCE: $12,902 in Q1 2026 vs. $8,056 in Q1 2025.
Daily OPEX: $5,278 in Q1 2026 vs. $5,156 in Q1 2025.
Outlook and guidance
Minimum contracted revenue as of March 31, 2026, is $14.5 million.
M/V Alfa converted to a fixed hire rate of $18,000/day for June–December 2026, adding $3.7 million to contracted revenue.
Recent investment in a container feeder vessel expected to generate $19 million in contracted revenue over 24–26 months.
Management expects sufficient working capital for the next twelve months.
- 2025 revenue surged with fleet growth, but net loss increased amid higher costs and leverage.ICON
Q4 20251 Jun 2026 - Raising up to $9M for fleet growth, with strong management but high market and control risks.ICON
Registration filing1 Jun 2026 - IPO targets $4.6–$5.5M for dry bulk fleet growth, with founder retaining 99.9% voting power.ICON
Registration filing1 Jun 2026 - IPO seeks up to $5.5M for fleet growth; voting power remains with CEO; single-vessel risk.ICON
Registration filing1 Jun 2026 - Single-vessel dry bulk shipper targets Nasdaq IPO, with proceeds for growth and strong insider control.ICON
Registration filing1 Jun 2026 - Flexible securities offerings enabled, with strong governance and indemnification for leadership.ICON
Registration filing1 Jun 2026 - Up to $20M in equity may be raised via a flexible share purchase agreement, with high dilution risk.ICON
Registration filing1 Jun 2026 - Registering up to $250M in securities to fund growth and fleet expansion in dry bulk shipping.ICON
Registration filing1 Jun 2026 - IPO for a drybulk shipping company with Maxim Group LLC as sole underwriter and standard terms.ICON
Registration filing1 Jun 2026
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