TMD Energy Limited Reports Its Audited Financial Results for the Fiscal Year Ended June 30, 2026

Gross margin fell to 0.57% from 2.47%, while higher administrative expenses added to the annual loss.

Rhea-AI Summary

TMD Energy (TMDE) reported an audited net loss of approximately $19.1 million for the fiscal year ended June 30, 2026. The prior-year net loss was approximately $3.6 million. Revenue fell 10.2% to approximately $545.0 million, versus approximately $606.7 million in the unaudited prior year. The company attributed weaker bunkering activity to softer demand amid tariff-related disruptions and geopolitical uncertainty; higher fuel selling prices partly offset lower volume.

Gross profit declined 79.3% to approximately $3.1 million, with margin falling to 0.57% from 2.47%. Operating results swung from approximately $3.9 million in income to approximately $12.9 million in losses. General and administrative expenses rose 76.4% to approximately $10.4 million, including a $1.8 million increase in expected credit-loss provisions. Cost of revenues and depreciation expenses declined.

2 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

2 major · 9 points

How the balance works

Positive

• Minor pointCost of revenues decreased 8.4% to approximately $541.9 million in FY2026, primarily reflecting lower volume.
• Minor pointDepreciation expenses decreased $0.27 million to approximately $4.9 million in FY2026.

Negative

• Major pointFY2026 net loss widened to approximately $19.1 million from approximately $3.6 million in FY2025.
• Major pointGross profit declined 79.3% to approximately $3.1 million; margin fell to 0.57% from 2.47%.
• Moderate pointFY2026 revenue fell 10.2% to approximately $545.0 million from approximately $606.7 million in unaudited FY2025.
• Moderate pointOperating loss reached approximately $12.9 million in FY2026, versus approximately $3.9 million operating income in FY2025.
• Moderate pointGeneral and administrative expenses increased 76.4% to approximately $10.4 million, including increased expected credit-loss provisions.

4 minor points

• Minor pointBunkering revenue declined 10.2% to approximately $543.8 million; higher selling prices partly offset lower volume.
• Minor pointShip management revenue declined 8.7% to approximately $1.1 million, mainly reflecting customer-base changes.
• Minor pointSelling and marketing expenses increased to approximately $0.72 million, reflecting additional marketing activities.
• Minor pointHigher operational costs included crew wages, logistics rates, equipment upkeep and vessel maintenance.

Key Figures

Total revenue: $545.0 million, down 10.2% Gross profit: $3.1 million, down 79.3% Gross profit margin: 0.57% +1 more

Total revenue

$545.0 million, down 10.2%

FY2026; compared with $606.7 million in unaudited FY2025

Gross profit

$3.1 million, down 79.3%

FY2026; compared with $15.0 million in FY2025

Gross profit margin

0.57%

FY2026; compared with 2.47% in FY2025

Net loss

$19.1 million

FY2026; compared with a $3.6 million net loss in FY2025

Previous Earnings Reports

1 past event · Latest: Jun 29

Same Type 1 event

1. Jun 29

   Interim earnings results

   24h Move

   -4.9%

   Six-month FY2026 revenue, gross profit and net loss showed deterioration before full-year reporting.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

bunkering services, expected credit losses, high sulfur fuel oil, low sulfur fuel oil, +1 more

5 terms

bunkering services technical

"integrated bunkering services, which involves ship-to-ship transfer of marine fuels"

Bunkering services provide fuel and related supplies to ships while they are in port or at sea, much like a gas station services cars but on a much larger scale. For investors, bunkering affects shipping operating costs, route economics and supply-chain reliability—changes in fuel price, availability or regulation can directly alter ship profitability, port revenues and companies exposed to maritime transportation.

expected credit losses financial

"$1.8 million increase in provision for expected credit losses"

Expected credit losses are an accounting estimate of how much a lender or company expects to lose when borrowers or customers don’t fully pay what they owe, combining how likely nonpayment is with how big the loss would be. Investors care because these estimates determine how much a firm must set aside from earnings as a reserve, directly affecting reported profits, balance-sheet strength and perceptions of credit risk—like setting aside a rainy-day fund for unpaid bills.

high sulfur fuel oil technical

"marine gas oil and marine fuel oil of which include high sulfur fuel oil"

A heavy residual marine or industrial fuel derived from crude oil with a relatively high sulfur content that is burned for ship propulsion, power generation, or industrial heating. Because it produces large amounts of sulfur oxides (SOx) when burned, international shipping and environmental rules limit or ban its use in many areas, so vessels using high sulfur fuel oil must install exhaust‑cleaning systems (scrubbers), switch to low‑sulfur fuels, or blend/treat the fuel to meet the required sulfur limits. High sulfur fuel oil is commonly referred to in bunker markets and shipping regulation discussions and is distinguished from lighter, low‑sulfur distillate fuels by its density, residue content, and higher sulfur percentage.

low sulfur fuel oil technical

"high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil"

Fuel oil whose sulfur content is limited to a low maximum level by weight so it meets air‑emissions regulations; its sulfur is typically measured as mass percent (e.g., 0.50% m/m or lower for many marine standards). Low sulfur fuel oil is used where rules restrict sulfur oxides (SOx) emissions from combustion (commonly in ship bunkers and some power plants) and is produced either by refining processes that remove sulfur or by blending lower‑sulfur fractions. The term describes a regulatory/quality specification (sulfur limit), not a single chemical product, so actual composition, flash point and other properties vary by grade and supplier.

very low sulfur fuel oil technical

"low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea"

A marine fuel blended to contain very low sulfur levels so ships meet modern emissions limits; it looks and acts like the heavy fuel oil used in large engines but with far less sulfur by weight. For investors, it matters because switching to this cleaner fuel changes fuel costs, refinery production and profit margins, shipping operating expenses and compliance capital needs—think of it as a mandatory, more expensive grade of gasoline that shifts costs across the industry.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

KUALA LUMPUR, MALAYSIA, Oct. 29, 2026 (GLOBE NEWSWIRE) -- TMD Energy Limited (“TMDEL” or the “Company”) (NYSE American: TMDE), together with its subsidiaries (the “Group” or “TMDEL Group”), 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 audited financial results for the fiscal year ended June 30, 2026 (“FY2026”).

Fiscal Year 2026 Financial and Operational Metrics

• Total Revenues: Total revenues decreased by 10.2% to approximately $545.0 million for the fiscal year ended June 30, 2026 compared to approximately $606.7 million for the unaudited fiscal year ended June 30, 2025.
• Sales Volume: Bunkering revenue declined primarily due to lower bunkered volume, reflecting softer demand amid tariff-related trade disruptions and geopolitical uncertainty. The effect of lower volume was partially offset by higher bunker fuel selling prices during FY2026, as selling prices generally track prevailing market oil prices.
• Gross Profit: Gross profit declined by 79.3% to approximately $3.1 million, yielding a gross profit margin of 0.57%, compared to a gross profit of approximately $15.0 million and a margin of 2.47% in the prior-year period.
• Net Loss: Net loss was approximately $19.1 million, compared to net loss of approximately $3.6 million for the fiscal year ended June 30, 2025.

Management Commentary & Business Vision

Dato' Sri Kam Choy Ho, Executive Director and Chief Executive Officer of TMDEL, commented:

“For the fiscal year ended June 30, 2026, we operated amid a highly challenging environment shaped by lingering geopolitical uncertainty, tariff frictions, volatility in oil price, subdued global trade activity and intense market competition. These factors affect global shipping activity, volume of oil cargo bunkered, and constrained our ability to preserve pricing spread. In response to these challenges, we have been strengthening collaboration with our key service providers and exploring alternative sourcing and supply chain options to enhance resilience and operational continuity. Moreover, we have intensified our marketing efforts, to expand our customer base and promote our products and services to prospective clients.”

“Looking forward, we will continue to monitor developments closely and adapt our business strategy as needed to maintain operational stability and financial performance. We maintain confidence in our ability to create sustainable long-term value for shareholders and customers worldwide.”, Dato' Sri Kam Choy Ho continued.

Financial Performance Overview for the Fiscal Year Ended June 30, 2026

Revenues

Total revenues decreased by approximately $61.7 million, or 10.2%, from approximately 606.7 million for the fiscal year ended June 30, 2025, to approximately $545.0 million for the fiscal year ended June 30, 2026. Revenue from bunkering services decreased by 10.2% to approximately $543.8 million. This decline was substantially attributable to the lower level of bunkering activities, which reflected weaker demand amid tariff-related developments and geopolitical uncertainties. As bunker fuel selling prices are generally linked to prevailing market oil prices, the higher average oil price environment contributed to higher selling prices and partially mitigated the decrease in bunkering services revenue. Revenue from ship management services declined by 8.7% to approximately $1.1 million, mainly attributable to changes in the company’s customer base.

Cost of Revenues and Gross Profit

Cost of revenues decreased by approximately $49.8 million, or 8.4%, to approximately $541.9 million for the fiscal year ended June 30, 2026. This volume-driven reduction was partially offset by rising bunker prices, and higher operational costs. The higher operational costs were caused by increased crew wages, elevated logistics service rates, and higher equipment upkeep and vessel maintenance costs, which are largely fixed in nature.

Gross profit decreased to approximately $3.1 million for the year ended June 30, 2026, compared to approximately $15.0 million for the year ended June 30, 2025. The decline reflected a narrower spread between selling prices and procurement costs, and limited ability to fully pass through inflationary costs to customers by the company, due to volatility in oil prices, competitive market conditions and softer demand for marine fuel. In addition, vessel schedule disruption and delays, higher transportation and logistics charges, terminal congestion, limited loading-slot availability and inflationary cost pressures increased the operating costs.

Operating Expenses

Selling and marketing expenses increased to approximately $0.72 million, attributable to additional marketing activities, including increased client engagement efforts to support existing customer relationships, expand customer base and promote products and services to potential customers. General and administrative expenses increased by 76.4% to approximately $10.4 million, primarily due to hike in staff costs, increased management fees covering overall group management and coordination services, increased professional service fees in connection with the public company, potential strategic acquisition activities, higher business development expenses related to client engagements, as well as $1.8 million increase in provision for expected credit losses. Depreciation expenses decreased by $0.27 million to approximately $4.9 million.

Loss from operations

Loss from operations was approximately $12.9 million for the fiscal year ended June 30, 2026, decreased by approximately $16.8 million from income from operations of approximately $3.9 million for the fiscal year ended June 30, 2025.

Net Loss

As a result of the foregoing factors, net loss, increased by approximately $15.5 million, from approximately $3.6 million for the fiscal year ended June 30, 2025, to approximately $19.1 million for the fiscal year ended June 30, 2026.

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. 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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were TMD Energy's revenue and net loss for FY2026?

TMD Energy reported approximately $545.0 million in revenue and a net loss of approximately $19.1 million for the fiscal year ended June 30, 2026. Revenue declined 10.2% from approximately $606.7 million in unaudited FY2025, while the net loss widened from approximately $3.6 million.

Why did TMD Energy's gross profit fall in FY2026?

TMD Energy attributed the gross-profit decline to narrower selling-price and procurement-cost spreads and limited ability to pass inflationary costs to customers. Vessel schedule disruptions, delays, higher transportation and logistics charges, terminal congestion and limited loading-slot availability also increased operating costs.

What drove TMD Energy's higher administrative expenses in FY2026?

Higher staff costs, management fees, professional service fees and business development expenses contributed to the increase in general and administrative expenses. Professional fees included public-company and potential strategic acquisition activities. The increase also included a $1.8 million increase in provision for expected credit losses, an allowance for amounts customers may not pay.