TMD Energy Limited Announces Financial Results for the Six Months Ended December 31, 2025
Rhea-AI Summary
TMD Energy (NYSE American: TMDE) reported unaudited results for the six months ended December 31, 2025. Revenue fell 22.5% to $247.6 million, sales volume dropped 10.1%, gross profit sank to $0.7 million (0.3% margin), and the company recorded an $8.5 million net loss.
Operating expenses increased, while a two-year exclusive biofuels collaboration MoA with Double Corporate was extended on June 8, 2026.
Positive
- Ship management services revenue rose 13.1% to approximately $0.5 million
- Cost of revenues decreased by $61.9 million, or 20.0%, to $246.9 million
- Two-year exclusive MoA extension with Double Corporate on waste-based sustainable marine and aviation fuels
Negative
- Total revenues declined 22.5% to approximately $247.6 million
- Bunkered and traded volume decreased 10.1% to 516,676 metric tons
- Gross profit fell to $0.7 million, margin compressed to 0.3% from 3.4%
- Net result swung from $0.9 million income to $8.5 million loss
- General and administrative expenses increased 20.9% to approximately $3.1 million
News Market Reaction – TMDE
In the Jun 30 session, TMDE declined 4.93%, reflecting a moderate negative market reaction. Argus tracked a trough of -26.5% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Sep 29 | Earnings results | Negative | +0.9% | Six‑month 2025 results with revenue drop, margin compression and swing to net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The only prior tagged earnings report showed weak results but a modestly positive price reaction, hinting at a tendency for market moves to diverge from fundamentals.
Key Terms
bunkering services technical
ship-to-ship transfer technical
cost-plus pricing model financial
memorandum of agreement regulatory
sustainable aviation fuel technical
iscc-eu-approved technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
KUALA LUMPUR, MALAYSIA, June 29, 2026 (GLOBE NEWSWIRE) -- TMD Energy Limited (“TMDEL” or the “Company”) (NYSE American: TMDE), together with its subsidiaries, a Malaysia and Singapore based services provider engaged in integrated bunkering services, which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today announced its unaudited financial results for the six months ended December 31, 2025 (“First Half 2026”).
First Half of Fiscal Year 2026 Financial and Operational Highlights
- Total Revenues: Total revenues decreased by
22.5% to approximately$247.6 million for the six months ended December 31, 2025, compared to approximately$319.6 million for the six months ended December 31, 2024. - Sales Volume: Total bunkered and traded volume decreased by
10.1% to 516,676 metric tons, down from 574,883 metric tons for the six months ended December 31, 2024. - Gross Profit: Gross profit declined by
93.8% to approximately$0.7 million , yielding a gross profit margin of0.3% , compared to a gross profit of approximately$10.9 million and a margin of3.4% in the prior-year period. - Net Loss: Net loss was approximately
$8.5 million , compared to a net income of approximately$0.9 million for the six months ended December 31, 2024.
Management Commentary & Business Vision
Dato' Sri Kam Choy Ho, Executive Director and Chief Executive Officer of TMDEL, commented: "During the first half of fiscal year 2026, we navigated a highly challenging operating environment characterized by ongoing geopolitical uncertainties, tariff tensions, and softer global trade activities, which collectively put downward pressure on marine fuel demand. Concurrently, a highly competitive market compressed our gross margins, limiting our ability to fully pass increased logistics, labor, and operational costs on to our customers. Despite these near-term sector headwinds, we remained focused on maintaining rigorous safety standards, ensuring vessel operational readiness, and scaling our client engagement efforts.”
“Looking ahead, our vision extends beyond navigating immediate market cycles. We are actively exploring strategic avenues to diversify our offerings and embrace the maritime industry's green transition. A key pillar of this strategy is our extended partnership with Double Corporate Sdn Bhd to evaluate sustainable waste-based biofuels. This extension grants us a valuable timeframe to potentially integrate their innovative, ISCC-EU-approved technology with our expansive bunkering footprint. As global maritime trade stabilizes and the demand for greener fuels accelerates, TMDEL is committed to building a resilient, future-ready business model that drives long-term value for our shareholders."
Financial Performance Overview for the Six Months Ended December 31, 2025
Revenues
Total revenues decreased by approximately
Cost of Revenues and Gross Profit
Cost of revenues decreased by approximately
Gross profit decreased to approximately
Operating Expenses
Selling and marketing expenses increased to approximately
Net Loss
As a result of the foregoing factors, net income of approximately
Recent Strategic Developments
- Green Bioenergy Collaboration: On June 8, 2026, the Company announced a two-year extension of its Memorandum of Agreement with Malaysian bioenergy leader Double Corporate Sdn Bhd. The extension grants a two-year exclusivity period to advance discussions and evaluate a strategic collaboration on waste-to-energy sustainable marine fuel and sustainable aviation fuel solutions for the EU, Asia, and global markets.
About TMD Energy Limited
TMD Energy Limited and its subsidiaries are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessels chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels.
For more information about our Company and its business activities, please visit our website at: www.tmdel.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including but not limited to, statements regarding the MOA and the proposed collaboration with Double Corporate. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, result of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the SEC.
For investor and media inquiries, please contact:
TMD Energy Limited
e-Mail: corporate@tmdel.com
WFS Investor Relations
e-Mail: services@wfsir.com
