Ocean Yield (OCY) Q3 2025 earnings summary

Executive summary

• Q3 2025 delivered strong financial results with adjusted EBITDA of USD 112.9 million and net profit of USD 28.0 million, supported by robust liquidity and a 30.0% equity ratio.

• Portfolio consists of 74 vessels, all on long-term charters, with an average vessel age just under five years.

• Acquisition of CapeOmega Gas Transportation AS with KKR, adding ten LNG carriers on long-term charters to investment-grade counterparties.

• Minority investment closed in CapeOmega LNG portfolio, expanding exposure to long-term LNG charters.

• Declared a USD 100 million dividend for Q3 2025.

Financial highlights

• Total revenues and other income for Q3 2025 were USD 71.3 million, up from USD 62.7 million in Q2 2025.

• Adjusted EBITDA reached USD 112.9 million, the highest in company history, up from USD 101.1 million in Q2 2025.

• Net profit for Q3 2025 was USD 28.0 million, compared to USD 22.9 million in Q2 2025.

• Available liquidity increased to USD 191.5 million at quarter end.

• Book equity increased to USD 840.7 million, driven by retained earnings and new equity.

Outlook and guidance

• EBITDA charter backlog at quarter end was USD 4.3 billion, with an average remaining contract duration of 9.9 years.

• The company remains well positioned for long-term growth, supported by a substantial charter backlog and strong liquidity.

• Low portfolio risk, robust balance sheet, and strong liquidity position the company for selective growth.

• No specific dividend guidance for next year, but capital allocation policy prioritizes a strong balance sheet, accretive growth, and prudent dividends.

• Increased focus on developing partnerships and strategic investments with industry leaders.