d'Amico International Shipping (DIS) Q3 2026 earnings summary

Executive summary

• 9M’26 net profit was $107.2m vs. $62.8m; adjusted net profit was $101.6m vs. $67.1m. Q3’26 net profit was $27.8m vs. $24.3m.

• 9M’26 total daily average TCE was $29,911 vs. $23,583; EBITDA was $145.9m, with a 64.7% margin.

• Net cash was $56.6m at September 30, 2026; the fleet became fully eco-design after delivery of High Tide.

Financial highlights

• 9M’26 total net revenue was $225.7m vs. $200.2m; EBITDA was $145.9m vs. $112.5m and EBIT was $112.1m vs. $71.1m.

• Q3’26 total net revenue was $68.2m vs. $68.0m; EBITDA was $40.2m vs. $39.2m and EBIT was $29.2m vs. $26.7m.

• 9M’26 operating cash flow was $136.6m; the period included a $5.3m vessel-disposal gain, mainly from High Seas.

• 9M’26 G&A was $22.3m vs. $19.2m, reflecting higher personnel, crew and insurance costs; daily OPEX was $8,347.

Outlook and guidance

• Q4’26 coverage was 59% on time charter at $24,203/day and 25% on spot at $62,129/day; blended TCE was $35,542/day for 84% of days.

• FY’26 estimated net profit was $152.4m if remaining unfixed days break even; estimates rise to $154.4m at $20,000/day and $166m at $50,000/day.

• FY’27 coverage was 38% at an average ~$24,600/day; fixed earnings secured were $91.8m for FY’27 and $14.1m for FY’28.

• IEA forecasts oil demand to fall 2.6m b/d in 2026 and rise 2.0m b/d in 2027; Clarksons forecasts product-tanker demand down 9.1% in 2026, then up 6.8% in 2027.