Navigator Holdings (NVGS)
NYSE:NVGS
Earnings Data
Report Date
May 25, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.38Last Year’s EPS
0.37Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive operational and financial picture: record annual EBITDA and net income, robust TCE rates well above the company's breakeven level, strong liquidity and disciplined capital returns, successful low-cost financing for newbuilds, and encouraging momentum at the Morgan's Point terminal (including recent offtake deals and record March volumes). Short-term challenges include Q4 sequential EBITDA softness, higher OpEx from fleet additions, some terminal volume volatility, and geopolitical uncertainty from the war in the Middle East that increases market volatility. Overall, management portrays resilience, strong balance sheet flexibility, and opportunity-driven growth despite the risks.Company Guidance
Steady Quarterly Revenue with Year-over-Year Growth
Q4 2025 revenue of $153.0 million, flat vs. Q3 2025 and up 6% year-over-year, driven by an 8% higher time charter equivalent (TCE) rate versus the same period last year.
Strong TCE Rates and Record Annual TCE
Average TCE in Q4 2025 of $30,647 per day (about $300 below Q3 ten‑year high) and annual TCE of $30,110 per day, the highest since the prior cycle peak in 2015; Q4 TCE was 8% above the year‑ago quarter.
Record Annual EBITDA and Solid Quarterly EBITDA
Adjusted EBITDA for Q4 2025 was $73.4 million (in line with Q4 2024), and Navigator reported record annual adjusted EBITDA of $302.8 million for 2025.
Improved Annual Net Income and EPS
Net income attributable to stockholders for 2025 reached a record $100.2 million with annual basic EPS of $1.49; Q4 net income was $18.5 million with basic EPS of $0.28 and adjusted EPS of $0.32.
Strong Liquidity Position
Cash equivalents and restricted cash of $204.9 million at Dec 31, 2025; total liquidity including undrawn facilities ~$296 million (available liquidity excluding restricted cash $246 million). Available liquidity was around $300 million as of March 11, 2026.
Enhanced Capital Return to Shareholders
Return of capital policy increased to 30% of net income (from 25%), fixed quarterly dividend raised from $0.05 to $0.07 per share; Q4 dividend paid $4.6 million and ~$5.4 million of share buybacks executed (~300k shares).
Attractive Newbuild Financing Executed
Secured very low-cost financing for two newbuilds at margins of 150 basis points plus SOFR (5‑year post‑delivery secured facility up to $133.8 million), and management expects to finance remaining newbuilds in H1 2026 on attractive terms.
Morgan's Point Terminal: Growing Volumes and Contracts
Q4 ethylene throughput ~191,700 tonnes (down from Q3 but +20% YoY); terminal equity value $245 million and now unencumbered; two offtake contracts signed and March 2026 on track for a record month (near or >120,000 tonnes).
Fleet Renewal and Balance Sheet Benefits from Sales
Sold older tonnage (Navigator Saturn for ~ $16M, Happy Falcon for ~$4M) realizing combined ~ $12M in gains to be booked in Q1 2026; fleet now 55 vessels with average age 12.6 years and eight vessels >15 years that are debt‑free.
Conservative Break-even and Leverage Metrics
Estimated all-in cash breakeven for 2026 of $20,970/day, well below 2025 average TCE ($30,110/day); net debt to 2025 adjusted EBITDA of 2.5x and loan-to-value of ~32% (below 30% with reasonable terminal valuation).
Consistent High Quarterly EBITDA Run-rate
12 consecutive quarters since 1Q 2023 with at least $60 million quarterly adjusted EBITDA, averaging $71 million across that period, demonstrating resilience and diversification benefits.
NVGS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NVGS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 11, 2026 | $20.36 | $18.01 | -11.55% |
Nov 04, 2025 | $16.25 | $16.80 | +3.36% |
Aug 12, 2025 | $15.82 | $15.60 | -1.38% |
May 14, 2025 | $13.51 | $13.80 | +2.12% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Navigator Holdings (NVGS) report earnings?
Navigator Holdings (NVGS) is schdueled to report earning on May 25, 2026, After Close (Confirmed).
What is Navigator Holdings (NVGS) earnings time?
Navigator Holdings (NVGS) earnings time is at May 25, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NVGS EPS forecast?
NVGS EPS forecast for the fiscal quarter 2026 (Q1) is 0.38.