Orient Overseas (International) (0316) Q4 2025 earnings summary

Executive summary

• Liner revenue for Q4 2025 fell 17.2% year-over-year to $2,081.2 million, with full-year revenue down 10.6% to $8,777.3 million.

• Total liftings increased 0.8% in Q4 and 3.7% for the full year, while loadable capacity rose 4.5% in Q4 and 6.1% for the year.

• Overall load factor declined 3.1% in Q4 and 1.9% for the year compared to 2024.

• Average liner revenue per TEU dropped 17.8% in Q4 and 13.7% for the year.

Financial highlights

• Q4 2025 total revenue: $2,081.2 million, down from $2,513.8 million in Q4 2024.

• FY 2025 total revenue: $8,777.3 million, down from $9,814.9 million in FY 2024.

• Trans-Pacific revenue in Q4 fell 24.9% year-over-year; Asia/Europe revenue dropped 24.5%.

• Trans-Atlantic revenue was flat in Q4 (+0.1%), but up 14.9% for the year.

• Intra-Asia/Australasia revenue declined 6.8% in Q4 but rose 1.2% for the year.

Outlook and guidance

• Performance remains dependent on costs and expenses, with caution advised for future quarters.