Ocean Yield (OCY) Q4 2025 earnings summary

Executive summary

• Reported strong Q4 2025 performance with adjusted EBITDA of $95.3M and net profit of $21.5M.

• Full year 2025 adjusted EBITDA reached $400.9M and net profit $90.8M.

• Maintained robust financial position with $138.8M in available liquidity and an equity ratio of 30.7%.

• Fleet expanded to 70 vessels, average age 4.2 years, all on long-term charters, diversified across LNG, oil service, crude, product/chemical, container, and dry bulk.

• High earnings visibility supported by a $4.5B adjusted EBITDA backlog and average charter tenor of 10.6 years.

Financial highlights

• Q4 adjusted EBITDA: $95.3M; net profit: $21.5M; no dividend declared for Q4.

• Full year adjusted EBITDA: $400.9M; net profit: $90.8M; $100M paid in dividends for the year.

• Q4 total revenues and other income: $60.5M, down from $71.3M in Q3.

• Q4 operating profit: $47M, down from $59.5M in Q3, mainly due to one-off Q3 gains.

• Q4 2025 operating revenues: $19.4M; finance lease revenues: $33.5M.

Outlook and guidance

• Strategy remains focused on investing in modern vessels with long-term stable cash flows to Tier One counterparties.

• Ongoing evaluation of growth and strategic partnerships, especially in LNG.

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

• Expect continued navigation between segments based on risk-reward.