Taylor Maritime Investments (TMI) H2 2026 earnings summary

Executive summary

• Initiated a managed wind-down, focusing on asset realisation and capital return to shareholders.

• Completed 23 vessel sales at an average 2.8% discount to fair market value, reducing the fleet from over 50 to five vessels post year-end.

• Fully repaid all bank debt and distributed significant capital to shareholders through dividends and share redemptions.

Financial highlights

• Net charter revenue for the year ended 31 March 2026 was $113.9 million.

• Adjusted EBITDA reached $22.0 million; loss for the year was $46.1 million, mainly due to $23.7 million in vessel impairment charges.

• Loss per ordinary share was $0.15; adjusted EBITDA per share was $0.07.

• Daily TCE earnings per vessel were $12,760, slightly up from $12,688 per day year-over-year.

• Total shareholder return was 20.2% for the period.

Outlook and guidance

• Expectation to distribute the vast majority of vessel sale proceeds to shareholders by calendar year end.

• Ongoing focus on disciplined vessel sales, efficient fleet management, and timely capital returns during the wind-down.