ALNG (ALNG) Q2 2026 earnings summary

Executive summary

• Reported a net loss of USD 6.4 million for Q2 2026, unchanged from Q1 2026; H1 2026 net loss totaled USD 12.8 million, with loss per share at USD 0.08 for the half year.

• EBITDA for Q2 2026 was USD 0.6 million, down from USD 0.9 million in Q1 2026; H1 2026 EBITDA was USD 1.5 million, significantly lower than USD 7.7 million in H1 2025.

• Net freight income for Q2 2026 was USD 5.9 million, compared to USD 6.2 million in Q1 2026; H1 2026 net freight income was USD 12.1 million, down from USD 16.0 million year-over-year.

• Vessel utilization was 66% in Q2 2026, slightly down from 68% in Q1 2026; H1 2026 utilization was 67%, nearly flat year-over-year.

• Completed a capital raise with gross proceeds of approximately USD 29 million in Q2 2026.

Financial highlights

• Freight income for Q2 2026 was USD 7.3 million, down from USD 8.2 million in Q1 2026 and USD 9.1 million in Q2 2025.

• Operating expenses in Q2 2026 were USD 3.8 million; administration expenses were USD 1.5 million.

• Depreciation charges for Q2 2026 were USD 3.8 million.

• Cash and cash equivalents increased to USD 33.3 million at the end of Q2 2026 from USD 7.8 million at the end of Q1 2026.

• Book equity at June 30, 2026, was USD 141.3 million; total assets were USD 317.9 million.

Outlook and guidance

• Market volatility driven by Middle East conflict and closure of the Strait of Hormuz; spot rates spiked then normalized at higher levels.

• Prolonged closure of Hormuz and high newbuilding deliveries may dampen the market, but winter season could bring higher demand and rates.

• First LNG trade expected to be entered into by year-end as trading initiative progresses.