Jacktel (JACK) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered strong results with $19.6 million in revenue, $11.3 million EBITDA, and $4.7 million net profit.

• Achieved 100% operational and financial utilization in Q2 2026.

• Successful completion of Equinor contract and seamless mobilization to Valhall for Aker BP contract, achieving minimal downtime.

• Aker BP contract for Valhall extended from 15 to 21 months, increasing fixed contract value from $87 million to $121 million, securing backlog through February 2028 and potentially June 2028.

• Quarterly dividend of $0.03 per share declared, classified as repayment of paid-in capital and paid in NOK, continuing a track record of increasing dividends.

Financial highlights

• Revenue for Q2 2026 was $19.6 million, with $15.8 million from charter hire and $3.3 million from mob/demob fees.

• EBITDA reached $11.3 million, and net profit was $4.7 million.

• Operating expenses totaled $8.2 million, mainly due to vessel OPEX, mob/demob costs, and increased NOK costs.

• Cash position at end of Q2 was $12.3 million after a $14 million negative change in cash, mainly due to timing of receivables and $20 million in financing outflows.

• Earnings per share for the quarter were $0.018.

Outlook and guidance

• Firm contract with Aker BP secures utilization into Q1 2028, with options extending to mid-2028.

• Confident outlook for continued operations on the Norwegian Continental Shelf, with additional opportunities in the North Sea and offshore wind markets.

• Tightening oil and gas market expected to provide further backlog opportunities beyond 2028.

• No material CapEx requirements expected during the current contract period.

• Dividend sustainability depends on backlog and operational performance; current level seen as sustainable if operations remain smooth.