Okeanis Eco Tankers Corp. – Unaudited Condensed Financial Statements for the Third Quarter and Nine-Month Period of 2025
Rhea-AI Summary
Okeanis Eco Tankers (NYSE: ECO) reported unaudited Q3 2025 and 9M 2025 results on Nov 12, 2025.
Key Q3 2025 figures: Revenue $90.6M, Profit $24.1M, EPS $0.75, Adjusted EBITDA $45.2M, fleetwide daily TCE $46,600 and Daily Opex $10,014. Cash including restricted cash was $58.2M as of Sept 30, 2025. For 9M 2025, Revenue $264.7M, Profit $63.5M and EPS $1.97.
The board declared a $0.75 per share dividend payable Dec 11, 2025 (record date Dec 2, 2025); Euronext VPS distributions expected ~Dec 16, 2025. The company will host a conference call/webcast on Nov 13, 2025 at 13:30 CET.
Positive
- Q3 profit +66% year-over-year to $24.1M
- Q3 EPS +66% year-over-year to $0.75
- Q3 Adjusted EBITDA of $45.2M
- Q4 to-date: 80% VLCC spot days booked at $88,100 average TCE
Negative
- 9M revenue down 14% to $264.7M
- 9M profit down 34% to $63.5M
- 9M EPS down 33% to $1.97
News Market Reaction – ECO
In the Nov 13 session, ECO gained 8.76%, reflecting a notable positive market reaction. Argus tracked a peak move of +5.8% during that session. Our momentum scanner triggered 34 alerts that day, indicating elevated trading interest and price volatility. Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATHENS, Greece, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (together with its subsidiaries, unless context otherwise dictates, “OET” or the “Company”) (NYSE: ECO, OSE: OET) today reported its unaudited condensed financial results for the third quarter and nine-month period of 2025, which are attached to this press release.
Financial performance of the Third Quarter Ended September 30, 2025
- Revenues of
$90.6 million in Q3 2025, compared to$84.9 million in Q3 2024. - Profit of
$24.1 million in Q3 2025, compared to$14.5 million in Q3 2024. - Vessel operating expenses of
$11.7 million in Q3 2025, compared to$11.5 million in Q3 2024. - Earnings per share of
$0.75 in Q3 2025, compared to$0.45 in Q3 2024. - Cash (including restricted cash) of
$58.2 million as of September 30, 2025, compared to$56.0 million as of September 30, 2024.
Financial performance of the Nine Months Ended September 30, 2025
- Revenues of
$264.7 million in 9M 2025, compared to$308.0 million in 9M 2024. - Profit of
$63.5 million in 9M 2025, compared to$95.7 million in 9M 2024. - Vessel operating expenses of
$33.8 million in 9M 2025, compared to$32.9 million in 9M 2024. - Earnings per share of
$1.97 in 9M 2025, compared to$2.97 in 9M 2024.
Alternative performance metrics and market development
- Time charter equivalent* (“TCE”, a non-IFRS measure*) revenue of
$59.9 million in Q3 2025. - EBITDA* and Adjusted EBITDA* (each non-IFRS measures*) of
$44.9 million and$45.2 million , respectively, in Q3 2025. - Adjusted profit* and Adjusted earnings per share* (each non-IFRS measures*) of
$24.7 million or$0.77 per basic and diluted share in Q3 2025. - Fleetwide daily TCE rate* of
$46,600 per operating day in Q3 2025; VLCC and Suezmax TCE rates of$45,500 and$48,200 per operating day, respectively, in Q3 2025. - Daily vessel operating expenses* (“Daily Opex”, a non-IFRS measure*) of
$10,014 per calendar day, including management fees, in Q3 2025. - In Q4 2025 to date,
80% of the available VLCC spot days have been booked at an average TCE rate of$88,100 per day and48% of the available Suezmax spot days have been booked at an average TCE rate of$60,800 per day.
Declaration of Q3 2025 dividend
The Company’s board of directors declared a dividend of
*The Company uses certain financial information calculated on a basis other than in accordance with International Financial Reporting Standards (“IFRS”) and generally accepted accounting principles, including TCE, Daily TCE, EBITDA, Adjusted EBITDA, Adjusted profit, Adjusted earnings per share, and Daily Opex. For a reconciliation of these non-IFRS measures, please refer to the report attached to this press release.
Presentation
OET will be hosting a conference call and webcast at 13:30 CET on Thursday, November 13, 2025 to discuss the Q3 2025 and 9M 2025 results.
The webcast will include a slide presentation and will be available on the following link:
https://events.q4inc.com/attendee/564091800
An audio replay of the conference call will be available on our website:
http://www.okeanisecotankers.com/reports/
Contacts
Company:
Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
ir@okeanisecotankers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
okeanisecotankers@capitallink.com
About OET
OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.
Forward Looking Statements
This communication contains “forward-looking statements”, including as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “hope,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
A PDF associated with this press release can be found here: http://ml.globenewswire.com/Resource/Download/c57ae155-c333-4d71-8dcd-063580f6cb4e
