Himalaya Shipping (HSHP) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $62.6 million, net income $33.3 million and EBITDA $52.7 million; 9M revenue was $149.8 million and net income $62.9 million.

• Twelve dual-fuel LNG Newcastlemax vessels were in operation; eight were spot-exposed, and Q3 gross TCE averaged $58,400/day.

Financial highlights

• Q3 revenue rose to $62.6 million from $37.9 million YoY; operating profit increased to $45.4 million from $22.0 million.

• Q3 net income was $33.3 million vs. $9.5 million; EPS was $0.71 vs. $0.21; EBITDA was $52.7 million vs. $29.3 million.

• Q3 operating cash flow was $43.8 million vs. $18.3 million; 9M operating cash flow was $87.8 million vs. $27.0 million.

• 9M operating income was $99.2 million vs. $42.2 million; total operating expenses were $50.6 million vs. $47.6 million.

• Q3 interest expense was $12.3 million vs. $12.8 million; 9M interest expense was $37.1 million vs. $38.7 million.

Outlook and guidance

• October 2026 gross TCE was $50,900/day; a $0.20/share dividend was declared for October.

• Two vessels were covered above $50,000/day in Q1; management was comfortable with spot exposure and would add cover if forward rates offered value.

• Q1 could outperform seasonality if Brazil is dry; bauxite season and rising Simandou volumes were cited as support.