• C3is stock is taking a hit today. What’s behind CISS decline?Earnings SnapshotThe company reported adjusted loss per share of $4.86, which narrowed from a loss of $24.90 a year ago quarter, as adjusted net income more than doubled to $2.7 million from $1.1 million in the prior year quarter.Voyage revenues rose to $10.6 million from $9.4 million in the prior year, led by higher average TCE rates for the vessels and the decrease in idle days. Average daily TCE increased by 24% in the quarter.Fleet operatio ...

Financial Performance - The company reported a net income of $10.5 million for the first 12 months of 2025, a significant increase of 481% compared to a net loss of $3 million for the same period in 2024 [5]. Revenue Trends - Voyage revenues experienced a decrease of 18% compared to the same period in the previous year [5]. Strategic Updates - The company is set to discuss its strategy and the overall market conditions during the earnings call [4].

Financial Highlights - For the twelve months of 2025, the company achieved a net income of $10.5 million, a significant increase of 481% compared to a net loss of $3 million in 2024 [3][25] - EBITDA for 2025 was reported at $17 million, up 244% from $7 million in 2024 [3][25] - Voyage revenues decreased by 18% to $34.8 million in 2025, primarily due to the dry docking of the Aframax tanker, resulting in 74 non-revenue days [3][21] - Voyage costs for 2025 were $12.8 million, down from $14.1 million in 2024 [22] Business Line Performance - The dry bulk market showed resilience in 2025, with iron ore and coal trade remaining significant, although coal shipments are forecasted to decline further in 2026 [4][6] - The minor bulks category, including bauxite and fertilizers, grew by around 4% in 2025, with expectations of a further 3% increase in 2026 [8] - The global Handysize fleet saw a 2% increase in exports, with the average age of the fleet at 14.9 years [9][10] Market Data - The Aframax sector experienced significant improvements, with spot rates on major trading routes increasing by up to 88.7% [11][12] - The global Aframax fleet consists of 1,198 ships, with 25% over 20 years of age [12] - Changes in trading patterns, particularly increased imports to China and India from the Middle East, have resulted in longer voyages and higher ton-mile demand [14][16] Company Strategy and Industry Competition - The company aims for disciplined growth through selective acquisitions of quality, non-Chinese-built vessels, focusing on short to medium-term charters [28] - The acquisition of two product tankers is expected to increase fleet capacity by 387% from inception [19][32] - The company maintains a high-quality fleet to reduce operating costs and improve safety, with no bank debt [28][29] Management's Comments on Operating Environment and Future Outlook - The company anticipates a bullish outlook for 2026, driven by elevated freight rates, resilient oil demand, and shifting trade patterns [31] - Global seaborne trades are projected to increase, supported by population growth and geopolitical factors [31] - The company has successfully completed the dry docking of its Aframax tanker, enhancing financial flexibility [31] Other Important Information - The company reported a cash balance of $14.9 million at the end of 2025, an increase of 19% from $12.6 million in 2024 [26] - The total paid for acquisitions did not change, with no interest charged on the purchase prices of vessels [29] Q&A Summary Question: What are the expectations for the dry bulk market in 2026? - The dry bulk market is expected to see modest growth in tons but robust growth in ton miles due to longer trade routes and the rising weight of minor bulks [8] Question: How does the company plan to manage its fleet and operations? - The company focuses on maintaining high standards of safety and reliability, with regular inspections and a comprehensive maintenance program for each vessel [28]

C3is (NasdaqCM:CISS) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Company ParticipantsDiamantis Andriotis - CEONina Pyndiah - CFOOperatorGood day, and thank you for standing by. Welcome to the C3is Q4 2025 Financial and Operating Results webcast and conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Dr. Diamantis Andriotis. Please go ahead.Diam ...

C3is (NasdaqCM:CISS) Q4 2025 Earnings call February 19, 2026 10:00 AM ET Speaker2Good day, and thank you for standing by. Welcome to the C3is Q4 2025 Financial and Operating Results webcast and conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Dr. Diamantis Andriotis. Please go ahead.Speaker0Good morning, everyone, and welcome to the C3is fourth quar ...

Q4 & 12M 2025 Financial & Operating Results February 19, 2026 EBITDA, Adjusted EBITDA, Time Charter Equivalent Revenues and Time Charter Equivalent $/per day may be included in our presentations, which are presented because they are used by management and certain investors to measure a company's financial performance and underlying trends as they exclude certain items impacting overall comparability. EBITDA, Adjusted EBITDA, Time Charter Equivalent Revenues and Time Charter Equivalent $/per day are "non-GAA ...

Core Viewpoint - C3is Inc. reported strong financial results for Q4 and the full year 2025, with significant increases in net income and EBITDA, driven by operational efficiency and fleet expansion strategies [14]. Operational and Financial Highlights Fourth Quarter 2025 Results - The company achieved revenues of $10.6 million in Q4 2025, up from $9.4 million in Q4 2024, with a daily Time Charter Equivalent (TCE) rate increase of 24% to $19,469 [4][9]. - Fleet operational utilization improved to 93.5% in Q4 2025 from 90.2% in Q4 2024, attributed to fewer idle days [4][9]. - Net income for Q4 2025 was $5.2 million, with an EBITDA of $6.7 million and earnings per share (EPS) of $5.82, compared to a loss of $51.51 per share in Q4 2024 [4][9][14]. - The company maintained a cash balance of $14.9 million as of December 31, 2025, despite significant capital expenditures [4][14]. Twelve Months 2025 Results - Total voyage revenues for 2025 were $34.8 million, down from $42.3 million in 2024, primarily due to increased idle days and drydocking of the Aframax tanker [9][10]. - Net income for the year was $10.5 million, a 481% increase from 2024, with EBITDA rising 244% to $17 million [14]. - The average number of vessels owned increased to 4.0 in 2025 from 3.6 in 2024, contributing to operational efficiency [11][14]. - The company reported a significant decrease in interest and finance costs from $2.5 million in 2024 to $0.4 million in 2025, reflecting the repayment of previous loans [13][14]. Fleet and Market Position - C3is Inc. operates a fleet of four vessels, including three Handysize dry bulk carriers and one Aframax tanker, with a total capacity of 213,464 deadweight tons (dwt) [18]. - The company has agreements to acquire two additional product tankers, which will expand fleet capacity by 387% from inception [16][18]. - The operational strategy focuses on capitalizing on strong market fundamentals, including elevated freight rates and resilient oil demand, with expectations for continued growth in global seaborne trade [15][16].

Core Viewpoint - C3is Inc. is set to release its fourth quarter financial results for the period ending December 31, 2025, on February 19, 2026, before the market opens in New York [1] Group 1: Financial Results Announcement - The financial results will be presented during a conference call hosted by the company's management at 10:00 am ET on February 19, 2026 [1] - A live and archived webcast of the conference call will be available on the C3is Inc. website [2] - Participants are advised to register approximately 10 minutes prior to the start of the webcast, which will be in listen-only mode [2] Group 2: Company Overview - C3is Inc. is a ship-owning company that provides seaborne transportation services to dry bulk and tanker charterers, including major national and private industrial users, commodity producers, and traders [3] - As of the end of Q4 2025, the company owned three Handysize dry bulk carriers and one Aframax oil tanker, with a total capacity of 213,464 deadweight tons (dwt) [3] - The company's shares are listed on the Nasdaq Capital Market under the symbol "CISS" [3]

Core Viewpoint - C3is Inc. is expanding its fleet with the delivery of two MR product tankers expected between Q1 and Q3 of 2026, and management estimates the Company's Net Asset Value (NAV) to be approximately $77.5 million as of September 30, 2025 [1][8]. Fleet Expansion Update - Following the delivery of the two MR product tankers, the Company's fleet will consist of six vessels: one Aframax oil tanker (approximately 115,800 dwt), two MR product tankers (approximately 50,000 dwt each), and three Handysize dry bulk carriers (aggregate capacity of 97,664 dwt), resulting in a total fleet capacity of approximately 310,667 dwt [2][11]. - The fleet's DWT capacity will have increased by 385% from inception without any bank loans [3]. Tanker Fleet Performance - The tanker fleet, including one Aframax and two MR product tankers, is expected to operate in the spot market, which currently shows strong fundamentals. Average daily charter revenues are estimated at approximately $55,000 for Aframax tankers and $25,000 for MR product tankers, indicating substantial cash flow contributions from the tanker fleet [4][11]. Dry Bulk Carriers Performance - The Handysize dry bulk carriers are currently under short-term fixed time charter contracts, generating average daily charter rates of approximately $15,800, which provides stable revenues and contributes to cash flow generation [5][11]. Net Asset Value Estimate - As of September 30, 2025, management estimates the Company's NAV to be approximately $77.5 million on a pro forma basis, accounting for the recent agreements to acquire two MR product tankers [8][9]. - The NAV estimate is based on the current market value of the vessels, cash balances, and less remaining capital expenditures related to the newly acquired MR product tankers [9].

Core Viewpoint - C3is Inc. is expanding its fleet by acquiring two MR product tankers, which will significantly enhance its operations and market presence in the tanker sector [1][4]. Fleet Expansion - The company has entered into two Memoranda of Agreement to acquire one 2008-built tanker for $16.88 million and one 2011-built tanker for $22.90 million, with delivery expected between Q1 and Q3 of 2026 [2][3]. - Following these acquisitions, the fleet will increase by 50% to a total of six vessels, comprising three Handysize dry bulk carriers and three tankers, including an Aframax oil tanker and two MR product tankers [2][5]. Financial Aspects - The acquisitions will be funded through a one-year interest-free loan, allowing the company flexibility in payment [4]. - Each newly acquired MR product tanker is expected to generate approximately $25,000 per day in revenue, translating to about $9 million in annual gross revenue per vessel [5]. - After accounting for estimated daily operating expenses of approximately $8,300, the expected annual EBITDA per vessel is around $6 million [5]. Market Positioning - The acquisition is aimed at capitalizing on favorable market conditions, with the CEO highlighting the positive fundamentals in the tanker market, including high short- and medium-term charter rates [4][5]. - The company's Aframax tanker is currently generating daily spot rates around $55,000, which will further enhance profitability and financial resilience [6].