TEN Ltd Reports $7.12 Per Share Profit in Second Quarter 2026
Tanker operator TEN, Ltd reported record net income of $228.1 million for the first six months of 2026. The company earned $7.12 per share driven by a 318% increase from the prior year.
TEN, Ltd announced financial results for the six months and the second quarter ended June 30, 2026. Net income reached $228.1 million, which translates to $7.12 per share. This performance represents a 318% increase compared to the equivalent period in 2025. The company generated record gross revenues of $551.4 million during this timeframe. Adjusted EBITDA for the six months totaled approximately $324.1 million. Fleet utilization remained stable at 96.5%, identical to the corresponding period in the previous year. Average Time Charter Equivalent revenue per vessel per day rose to $43,503 from $30,754 in 2025. Vessel operating expenses increased to $111.0 million. TEN also paid common stock dividends totaling $1.50 per share. The company maintains a dynamic growth pipeline with 26 vessels under construction, seven of which have already been delivered.
