Samos Energy Infrastructure (SAMOS) Q1 2026 earnings summary

Executive summary

• No lost time incidents (LTIs) recorded; HSE standards remained high across all vessels.

• Achieved 100% uptime and total Q1 production exceeded forecast by 5% due to strong well performance.

• Consolidated Adjusted Revenue for Q1 2026 was $10.3 million; Adjusted EBITDA was $9.0 million.

• Owns and leases floating production platforms, focusing on fleet expansion and maximizing asset value.

• No dividends declared for the period ended 31 March 2026.

Financial highlights

• Q1 2026 revenue: $8.43 million; gross profit: $7.84 million; profit before tax: $812,000.

• Net profit for Q1 2026 was $670,000, a turnaround from a net loss of $1.01 million in Q4 2025.

• Cash and cash equivalents at period end: $17.3 million, up from $15.12 million sequentially.

• Senior Secured Bond reduced to $42.9 million from $48.25 million after repayments.

• Total assets: $65.5 million; total equity: -$4.9 million; total liabilities: $54.0 million.

Outlook and guidance

• Revenue and EBITDA outlooks remain robust, with actual 2025 EBITDA about $3 million above forecast.

• Management base case assumes contract life through 2030; Credit case assumes through 2028.

• Actively pursuing further acquisitions of floating production platforms.

• Focus on supporting field growth, life extension, and maintaining high HSE standards.

• Forecast revenue includes vessel scrapping at contract end, based on $430/mt scrap steel price.