Tsakos Energy Navigation Limited (TEN)
NYSE:TEN
Want to see TEN full AI Analyst Report?
Earnings Data
Report Date
Sep 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.48Last Year’s EPS
0.67Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong financial and operational results: major year‑over‑year increases in voyage revenues, TCE per day (+33%), operating income (+93%), net income (+136%), adjusted EBITDA (+55%), and robust EPS and dividend increases. The company highlights a large backlog (~$3.6B), an active fleet renewal and green transition program, high utilization (98.3%) and strong profit‑sharing performance (> $40M in Q1). Offsetting risks are significant geopolitical disruption (Strait of Hormuz closure, trapped seafarers), some rising absolute operating and G&A costs (including FX effects), and higher absolute debt levels. On balance, the positive financial performance, strong backlog and proactive fleet strategy materially outweigh the operational and geopolitical headwinds.Company Guidance
Strong Revenue and Utilization
Voyage revenues of $253 million in Q1 2026, $56 million higher than Q1 2025. Fleet utilization rose to 98.3% from 97.2% in Q1 2025, supporting near‑full deployment.
Significant TCE and Operating Income Improvement
Time Charter Equivalent (TCE) per ship per day increased to ~ $41,000 from ~ $31,000 in Q1 2025, a 33% increase. Operating income reached about $110 million versus $57 million in Q1 2025, a 93% increase (+$53 million).
Strong Net Income and EPS Growth
Net income of $89 million in Q1 2026 versus $37.7 million in Q1 2025, a 136% increase (+~$51 million). Earnings per share of $2.72 vs $1.04 in Q1 2025 (approximately +162% in EPS).
Higher Adjusted EBITDA and Profit Sharing Contribution
Adjusted EBITDA of $154 million, up by ~$55 million (55%) versus Q1 2025. Profit sharing revenues exceeded $40 million in Q1 2026 (compared with $45 million for all of 2025), indicating strong trading upside.
Shareholder Returns and Dividend Increase
Declared $1.00 per common share dividend to be paid in July. Total distributions year‑to‑date (including Feb $0.50) are $1.50 vs $1.10 in 2025 (36% higher); the single July payment is 67% higher than the same time last year.
Large Backlog and Fleet Remuneration Mix
Booked upfront revenues of approximately $3.6 billion for the next two years. Pro forma fleet of 83 vessels (operating fleet 63); ~37% of the operating fleet has spot/profit‑sharing exposure and ~83% of the fleet is on secured revenue contracts (time charters and time charters with profit sharing).
Fleet Renewal and Green Transition
Aggressive fleet renewal: sold 18 older vessels (avg age 17 years) and replaced with 34 contracted/modern acquisitions (avg age 0.5 years). Continuing newbuilding program (26 vessels) and expansion of dual‑fuel/eco‑friendly tonnage (e.g., 6 dual‑fuel LNG Aframaxes).
Strong Balance Sheet and Asset Values
Fair market value of the operating fleet exceeds $4.6 billion against $2.1 billion of debt; net debt to capital approximately 48.4%. Company reports solid cash reserves and capacity to pursue acquisitions / opportunistic purchases (e.g., in‑the‑money sale & leasebacks).
Operational Efficiency
Vessel operating expenses per ship per day at $9,952 (roughly one quarter of TCE), voyage expenses declined $6.2 million to $29.8 million (driven by fewer spot‑trading vessels and higher secured employment).
TEN 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
TEN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 21, 2026 | $44.11 | $44.47 | +0.82% |
Mar 06, 2026 | $34.95 | $34.75 | -0.57% |
Nov 20, 2025 | $24.25 | $24.04 | -0.87% |
Sep 10, 2025 | $21.55 | $20.67 | -4.10% |
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 Tsakos Energy Navigation Limited (TEN) report earnings?
Tsakos Energy Navigation Limited (TEN) is schdueled to report earning on Sep 16, 2026, Before Open (Confirmed).
What is Tsakos Energy Navigation Limited (TEN) earnings time?
Tsakos Energy Navigation Limited (TEN) earnings time is at Sep 16, 2026, Before Open (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 TEN EPS forecast?
TEN EPS forecast for the fiscal quarter 2026 (Q2) is 2.48.