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Okeanis Eco Tankers: Riding High On Oil Waves, But Stay Alert
Seeking Alpha· 2025-08-07 05:48
Company Overview - Okeanis Eco Tankers Corp. is an international shipping company founded in 2018 in Greece [1] - The company owns 14 modern tankers, including six Suezmax type and eight larger VLCC ships for oil transportation [1] Business Focus - The company's activities are concentrated on global oil transportation [1]
Okeanis Eco Tankers Corp. – Invitation to Q2 2025 Results Conference Call and Webcast
Globenewswire· 2025-08-06 20:15
Core Viewpoint - Okeanis Eco Tankers Corp. (OET) is set to report its unaudited condensed financial results for Q2 and the first half of 2025 on August 12, 2025, with a webcast/teleconference scheduled for August 13, 2025 [1] Company Overview - OET is a leading international tanker company specializing in the seaborne transportation of crude oil and refined products [2] - The company was incorporated on April 30, 2018, under the laws of the Republic of the Marshall Islands and is listed on both the Oslo Stock Exchange (OET) and the New York Stock Exchange (ECO) [2] - The fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [2]
Okeanis Eco Tankers Corp. (ECO) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
ZACKS· 2025-08-01 15:01
Core Viewpoint - Okeanis Eco Tankers Corp. is anticipated to report a year-over-year decline in earnings and revenues for the quarter ended June 2025, which could significantly influence its stock price depending on the actual results compared to estimates [1][3]. Earnings Expectations - The consensus estimate for Okeanis Eco Tankers Corp. is an earnings per share (EPS) of $0.46, reflecting a year-over-year decrease of 62.6% [3]. - Expected revenues are projected at $51.88 million, down 53.7% from the same quarter last year [3]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised 57.9% higher, indicating a reassessment by analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Okeanis Eco Tankers Corp. is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +27.47% [12]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a higher likelihood of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [10]. - Okeanis Eco Tankers Corp. currently holds a Zacks Rank of 3, indicating a potential to beat the consensus EPS estimate [12]. Historical Performance - In the last reported quarter, Okeanis Eco Tankers Corp. exceeded the expected EPS of $0.24 by delivering $0.36, resulting in a surprise of +50.00% [13]. - The company has successfully beaten consensus EPS estimates in all of the last four quarters [14]. Industry Context - Genco Shipping & Trading, another player in the Zacks Transportation - Shipping industry, is expected to report a loss of $0.15 per share for the same quarter, indicating a year-over-year change of -132.6% [18]. - Genco's expected revenues are $47.9 million, down 37.6% from the previous year, with a consensus EPS estimate revised 18% higher over the last 30 days [19].
Will Okeanis Eco Tankers Corp. (ECO) Beat Estimates Again in Its Next Earnings Report?
ZACKS· 2025-07-25 17:10
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Okeanis Eco Tankers Corp. (ECO) , which belongs to the Zacks Transportation - Shipping industry.This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 68.18%.For the most recent quarter, Okeanis Eco Tankers Corp. was expected to post earnings of ...
Okeanis Eco Tankers Corp. – New Loan Agreement
GlobeNewswire News Room· 2025-06-17 20:15
Core Viewpoint - Okeanis Eco Tankers Corp. has secured a $65 million term loan facility to finance the purchase of the Nissos Kea, reflecting the company's strong financial position and relationships with financing partners [1][2][3] Group 1: Loan Details - The new secured term loan facility amounts to $65 million, with an interest rate of Term SOFR plus 135 basis points, maturing in seven years [1] - The loan will be repaid in quarterly installments of $0.9 million, with a balloon payment of $39.8 million at maturity [1] - The loan is secured by a mortgage over the Nissos Kea and guaranteed by the company, including standard covenants [1] Group 2: Financial Strategy - The company aims to improve its capital structure, having reduced debt service breakeven costs and extended maturity profiles through recent loan agreements [3] - The company has secured loans for its three youngest VLCC vessels, indicating competitive terms and maturities extending to 2032 [2] - There is potential for further enhancement of the company's debt position with upcoming refinancing opportunities in 2026 [3] Group 3: Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company, incorporated in 2018, providing seaborne transportation of crude oil and refined products [4] - The company's fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [4]
Okeanis Eco Tankers Corp. – 2025 Annual Meeting of Shareholders held
Globenewswire· 2025-05-30 20:15
ATHENS, Greece, May 30, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (“OET” or the “Company”) (NYSE:ECO / OSE:OET) today announced that the 2025 Annual Meeting of the Shareholders of the Company (the “Annual Meeting”) was duly held on May 30, 2025 and that all proposals on the agenda were approved. At the Annual Meeting, the shareholders of the Company: (i) Elected the following eight directors to serve until the next annual meeting of shareholders or until their successors are elected and qualified: ...
Okeanis Eco Tankers Corp. (ECO) Tops Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-14 23:35
Core Insights - Okeanis Eco Tankers Corp. reported quarterly earnings of $0.36 per share, exceeding the Zacks Consensus Estimate of $0.24 per share, but down from $1.23 per share a year ago, indicating a 50% earnings surprise [1] - The company achieved revenues of $80.15 million for the quarter, surpassing the Zacks Consensus Estimate by 7.48%, but down from $111.12 million year-over-year [2] - The stock has gained approximately 14.9% since the beginning of the year, outperforming the S&P 500's gain of 0.1% [3] Earnings Performance - Okeanis Eco Tankers has surpassed consensus EPS estimates in all four of the last quarters [2] - The company is currently holding a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $85.46 million, and for the current fiscal year, it is $1.48 on revenues of $327.35 million [7] - The outlook for the Transportation - Shipping industry is currently in the bottom 19% of Zacks industries, which may impact stock performance [8]
Okeanis Eco Tankers(ECO) - 2025 Q1 - Quarterly Report
2025-05-14 20:22
Exhibit 99.1 Okeanis Eco Tankers Corp. Reports Financial Results for the First Quarter of 2025 ATHENS, GREECE, May 14, 2025 – Okeanis Eco Tankers Corp. (together with its subsidiaries, unless context otherwise dictates, "OET" or the "Company") (NYSE: ECO, OSE: OET) today reported its unaudited condensed financial results for the first quarter of 2025, which are attached to this press release. Financial performance of the First Quarter Ended March 31, 2025 Alternative performance metrics and market developme ...
Okeanis Eco Tankers Corp. – Key Information relating to Q1 2025 dividend
GlobeNewswire News Room· 2025-05-14 20:20
Company Overview - Okeanis Eco Tankers Corp. (OET) is a leading international tanker company that provides seaborne transportation of crude oil and refined products. The company was incorporated on April 30, 2018, under the laws of the Republic of the Marshall Islands and is listed on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE) under the symbols OET and ECO, respectively. The fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [4]. Dividend Announcement - The company's board of directors has declared a dividend of USD 0.32 per common share, with dividends payable to common shares registered in the Euronext VPS distributed in NOK [6]. - The date of board approval for the dividend was May 14, 2025. The last day including the right to the dividend for shares trading on the OSE is May 30, 2025, and for shares trading on the NYSE is June 2, 2025 [6]. - The ex-dividend date for OSE is June 2, 2025, and for NYSE is June 3, 2025. The record date for both exchanges is June 3, 2025, with the payment date set for June 12, 2025. Shareholders registered in the Euronext VPS are expected to receive the dividend on or about June 17, 2025 [6]. Settlement and Regulatory Information - The NYSE settles trades on a T+1 basis, while the OSE settles trades on a T+2 basis, leading to different ex-dividend dates between the two exchanges [3]. - Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, shareholders holding shares registered in Euronext Securities Oslo should be aware of the payment date information [2].
Okeanis Eco Tankers Corp. Reports Financial Results for the First Quarter of 2025
Globenewswire· 2025-05-14 20:15
Financial Performance - Revenues for Q1 2025 were $80.1 million, a decrease from $111.1 million in Q1 2024 [6] - Profit for Q1 2025 was $12.6 million, down from $41.6 million in Q1 2024 [6] - Earnings per share for Q1 2025 were $0.39, compared to $1.29 in Q1 2024 [6] - Cash (including restricted cash) as of March 31, 2025, was $43.0 million, down from $54.3 million as of December 31, 2024 [6] Operational Metrics - Time charter equivalent (TCE) revenue for Q1 2025 was $48.6 million [6] - EBITDA and Adjusted EBITDA for Q1 2025 were $33.8 million and $32.5 million, respectively [6] - Fleetwide daily TCE rate was $38,500 per operating day in Q1 2025, with VLCC and Suezmax TCE rates at $38,000 and $39,200 per operating day, respectively [6] - Daily vessel operating expenses were $9,233 per calendar day in Q1 2025 [6] Dividend Declaration - The board of directors declared a dividend of $0.32 per common share, payable on June 12, 2025, to shareholders of record as of June 3, 2025 [4] - Common shares will be traded ex-dividend on the NYSE from June 3, 2025, and on the Oslo Stock Exchange from June 2, 2025 [4] Market Development - As of Q2 2025 to date, 72% of available VLCC spot days have been booked at an average TCE rate of $46,700 per day, and 64% of available Suezmax spot days have been booked at an average TCE rate of $50,600 per day [6]