Cool Company Ltd Reports Q3 Earnings and Merger Plans

Cool Company Ltd ( (CLCO) ) has released its Q3 earnings. Here is a breakdown of the information Cool Company Ltd presented to its investors.

Cool Company Ltd, a prominent player in the LNG shipping industry, is known for its advanced fleet and innovative solutions in maritime transportation. The company operates globally, providing efficient and reliable shipping services.

In its latest earnings report for the third quarter of 2025, Cool Company Ltd reported total operating revenues of $86.3 million, a slight increase from the previous quarter. However, net income saw a decline to $10.8 million, primarily due to higher non-recurring legal expenses. The company also announced a significant merger agreement with EPS Ventures Ltd, which is expected to close by early 2026.

Key financial highlights include an average Time Charter Equivalent (TCE) of $70,500 per day, up from $69,900 in the previous quarter, and an adjusted EBITDA of $52.6 million. The company also completed dry docks for two vessels and commenced a new floating-rate charter. The merger with EPS Ventures Ltd will result in EPS acquiring all outstanding shares of CoolCo not already owned by EPS, with the company’s shares to be delisted post-merger.

Despite the challenges, Cool Company Ltd maintains a strong liquidity position with cash and cash equivalents of $117.6 million and a total contractual debt of $1.387 billion. The company has also terminated its share repurchase program due to the impending merger.

Looking ahead, Cool Company Ltd remains focused on optimizing its fleet performance and exploring strategic opportunities to enhance shareholder value. The management is cautiously optimistic about the future, with the merger expected to provide new growth avenues and strengthen its market position.