Core Viewpoint - Okeanis Eco Tankers Corp. will report its unaudited condensed financial results for Q3 and the nine-month period ending September 30, 2025, on November 12, 2025, with a subsequent webcast on November 13, 2025 [1] Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company specializing in 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 (symbol OET) and the New York Stock Exchange (symbol ECO) [2] - The fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [2]

Core Points - Okeanis Eco Tankers Corp. announced the resignation of directors Robert Knapp and Joshua Nemser, effective October 10, 2025, with no disagreements cited [1] - The board of directors maintains a majority of independent directors, and the composition of the committees remains unchanged, except for the remuneration committee [2] - Chairman Ioannis Alafouzos expressed gratitude for the contributions of the resigning directors, who had been with the company for over seven years [3] Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company focused on seaborne transportation of crude oil and refined products, incorporated on April 30, 2018 [4] - The company is listed on both the Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO, operating a fleet of six Suezmax tankers and eight VLCC tankers, all equipped with modern scrubbers [4]

Core Viewpoint - The article discusses the investment thesis for Okeanis (NYSE: ECO), highlighting its potential as an interesting buy despite recent softening in rates due to seasonal factors and OPEC+ decisions [1]. Group 1: Company Overview - Okeanis operates in a cyclical industry, which is expected to yield significant returns during economic recovery and growth phases [1]. - The company has been analyzed previously, indicating a consistent interest in its performance and market positioning [1]. Group 2: Market Dynamics - The recent softening of rates aligns with seasonal trends, suggesting a temporary fluctuation rather than a long-term decline [1]. - OPEC+ decisions are influencing market conditions, which could impact the operational environment for companies like Okeanis [1]. Group 3: Investment Strategy - The investment strategy focuses on cyclical industries while maintaining a diversified portfolio that includes bonds, commodities, and forex [1]. - The importance of balancing risk is emphasized, with fixed-income investments being a key component of the strategy [1].

Core Insights - Investors are increasingly turning to dividend-yielding stocks during market turbulence and uncertainty, as these companies typically have high free cash flows and offer substantial dividend payouts [1] Group 1: Analyst Ratings and Price Targets - Delek Logistics Partners, LP (DKL) has a dividend yield of 9.90%. Mizuho analyst Gabriel Moreen maintained a Neutral rating and increased the price target from $44 to $45 on August 29, 2025, with an accuracy rate of 68%. Raymond James analyst Justin Jenkins maintained an Outperform rating and raised the price target from $44 to $46 on January 28, 2025, with an accuracy rate of 77% [7] - Okeanis Eco Tankers Corp. (ECO) has a dividend yield of 9.57%. Jefferies analyst Omar Nokta initiated coverage with a Buy rating and a price target of $29 on July 23, 2025, with an accuracy rate of 72%. B. Riley Securities analyst Liam Burke maintained a Buy rating but lowered the price target from $44 to $40 on January 15, 2025, with an accuracy rate of 71% [7] - Western Midstream Partners, LP (WES) has a dividend yield of 9.49%. Mizuho analyst Gabriel Moreen maintained an Outperform rating and increased the price target from $44 to $46 on August 29, 2025, with an accuracy rate of 68%. Morgan Stanley analyst Robert Kad maintained an Underweight rating and lowered the price target from $41 to $39 on August 26, 2025, with an accuracy rate of 71% [7] Group 2: Recent Earnings Reports - Delek Logistics Partners posted weaker-than-expected quarterly results on August 6, 2025 [7] - Okeanis Eco Tankers reported better-than-expected quarterly earnings on August 12, 2025 [7] - Western Midstream posted upbeat quarterly earnings on August 6, 2025 [7]

Core Insights - During market turbulence, investors often seek dividend-yielding stocks, which typically have high free cash flows and offer substantial dividends [1] Group 1: Analyst Ratings and Price Targets - Delek Logistics Partners, LP (DKL) has a dividend yield of 9.90%. Mizuho analyst Gabriel Moreen maintained a Neutral rating and increased the price target from $44 to $45 on Aug. 29, 2025, with an accuracy rate of 68% [7]. Raymond James analyst Justin Jenkins maintained an Outperform rating and raised the price target from $44 to $46 on Jan. 28, 2025, with an accuracy rate of 77% [7]. Recent news indicated weaker-than-expected quarterly results on Aug. 6 [7] - Okeanis Eco Tankers Corp. (ECO) has a dividend yield of 9.57%. Jefferies analyst Omar Nokta initiated coverage with a Buy rating and a price target of $29 on July 23, 2025, with an accuracy rate of 72% [7]. B. Riley Securities analyst Liam Burke maintained a Buy rating but lowered the price target from $44 to $40 on Jan. 15, 2025, with an accuracy rate of 71% [7]. Recent news showed better-than-expected quarterly earnings on Aug. 12 [7] - Western Midstream Partners, LP (WES) has a dividend yield of 9.49%. Mizuho analyst Gabriel Moreen maintained an Outperform rating and increased the price target from $44 to $46 on Aug. 29, 2025, with an accuracy rate of 68% [7]. Morgan Stanley analyst Robert Kad maintained an Underweight rating and lowered the price target from $41 to $39 on Aug. 26, 2025, with an accuracy rate of 71% [7]. Recent news reported upbeat quarterly earnings on Aug. 6 [7]

Core Insights - The article discusses Okeanis Eco Tankers (NYSE: ECO) and highlights the company's aligned ownership, modern fleet equipped with scrubbers, and strong operational execution as key factors for future success [1]. Company Overview - Okeanis Eco Tankers has a young fleet that is fitted with scrubbers, which is expected to enhance operational efficiency and compliance with environmental regulations [1]. - The company is positioned to benefit from favorable market conditions due to its strategic advantages and effective management [1]. Investment Thesis - The initial investment thesis presented a year ago emphasized the combination of aligned ownership and exceptional execution as a foundation for potential growth and returns [1].

Core Viewpoint - Okeanis Eco Tankers Corp. (ECO) shows a significantly improving earnings outlook, making it a solid investment choice as analysts continue to raise earnings estimates for the company [1][3]. Earnings Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding the company's earnings prospects, which is expected to positively impact its stock price [2]. - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with Zacks 1 Ranked stocks averaging an annual return of +25% since 2008 [3]. - The consensus earnings estimate for the next quarter has increased by 84.21% over the last 30 days, with one estimate going higher and no negative revisions [6]. Current Earnings Estimates - For the current quarter, Okeanis Eco Tankers Corp. is expected to earn $0.35 per share, reflecting a -22.2% change from the previous year [6]. - The full-year earnings estimate is projected at $2.21 per share, representing a -33.6% change from the prior year, but the consensus estimate has increased by 55.28% due to positive revisions [7][8]. Zacks Rank and Investment Potential - Okeanis Eco Tankers Corp. currently holds a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, indicating strong potential for outperformance compared to the S&P 500 [9]. - The stock has risen 12.2% over the past four weeks due to strong estimate revisions, suggesting further upside potential [10].

Financial Data and Key Metrics Changes - The fleet-wide time charter equivalent (TCE) was approximately $50,500 per vessel per day, with VLCCs at nearly $50,000 and Suezmaxes at $51,500 [3] - Adjusted EBITDA for the quarter was $47.3 million, with an adjusted net profit of $26.7 million and adjusted EPS of $0.83 [3] - TCE revenue for the six-month period was $113 million, with EBITDA close to $80 million and reported net income exceeding $39 million or $1.23 per share [4] - The company ended the quarter with $65 million in cash and total debt of $631 million, resulting in a book leverage of 57% and a market-adjusted net loan-to-value (LTV) of around 40% [4] Business Line Data and Key Metrics Changes - The company operates a fleet of 14 vessels, including six Suezmaxes and eight VLCCs, with an average age of 5.9 years, making it the youngest fleet among listed crude tanker peers [5] - The company achieved 100% utilization in both VLCC and Suezmax segments, with a significant increase in TCE quarter-on-quarter [12] Market Data and Key Metrics Changes - The market has eased compared to Q2, but the outlook remains optimistic for Q4, with 77% of RVs fixed in the spot market at $44,200 per day [15] - The Suezmax market is currently firm, with expectations of fixing voyages at rates higher than Q3 guidance [15] - OPEC is expected to unwind production cuts, leading to increased tanker utilization [20] Company Strategy and Development Direction - The company aims to become the public platform of choice within the crude oil tanker space, focusing on expanding its investor base and enhancing its capital structure [10] - Recent refinancing transactions have lowered financing margins and extended average maturities, which is expected to result in annual interest savings of around $1 million [8] Management's Comments on Operating Environment and Future Outlook - Management expressed a constructive outlook for the remainder of the year, citing supportive market dynamics and the potential for increased demand due to OPEC's production adjustments [29] - The company noted that the supply side remains structurally tight, particularly for large vessels, which is expected to support tanker earnings in the coming years [22] Other Important Information - The company declared a dividend of $0.70 per share, marking the fifteenth consecutive distribution, with total distributions over the last four quarters amounting to $1.82 per share [3] - The company has been actively cleaning vessels for diesel trade, which has provided unique opportunities in the spot market [34] Q&A Session Summary Question: Overview of the VLCC that was cleaned for diesel trade - Management indicated that the vessel will likely return to loading crude cargo after the diesel voyage, emphasizing their unique ability to clean vessels themselves [34] Question: Impact of OPEC production increases on cargo availability - Management confirmed that cargoes are returning to the market, with VLCC rates experiencing a significant increase recently [40] Question: Economics of cleaning vessels and market conditions - Management explained that the profitability of cleaning vessels depends on the spread between clean and dirty rates, with specific conditions required for it to be economically viable [48] Question: Future of Russian crude imports and market dynamics - Management suggested that a shift in import preferences could lead to increased Russian crude sales to China, impacting ton miles and trade flows [75] Question: Operating costs and exchange rate impacts - Management noted that operating costs have increased due to euro-based expenses and exchange rate fluctuations, but overall costs are expected to remain relatively flat [68]

Financial Performance - Okeanis Eco Tankers reported a fleetwide TCE of $50,500 per day in Q2 2025, compared to $64,900 in 6M 2024 [16] - Adjusted EBITDA for Q2 2025 was $473 million, versus $639 million in Q2 2024 [16] - The company's adjusted profit was $267 million in Q2 2025, compared to $397 million in Q2 2024 [16] - Adjusted EPS was $083 in Q2 2025, compared to $123 in Q2 2024 [16] - TCE revenue reached $640 million in Q2 2025 and $1126 million for the first half of 2025 [16, 21] Balance Sheet and Capital Structure - Total debt stood at $6309 million in Q2 2025 [16] - Total cash was $653 million in Q2 2025 [16] - Total assets amounted to $10831 billion in Q2 2025 [16] - Total equity was $4283 million in Q2 2025 [16] - The company's book leverage was 57% in Q2 2025 [16] Fleet and Commercial Operations - VLCC TCE was $49,800 per day and Suezmax TCE was $51,400 per day in Q2 2025 [16] - For Q3 2025 guidance, 77% of available VLCC spot days are fixed at $44,200 per day, and 60% of available Suezmax spot days are fixed at $34,200 per day [37]

Company Performance - Okeanis Eco Tankers Corp. reported quarterly earnings of $0.83 per share, exceeding the Zacks Consensus Estimate of $0.46 per share, but down from $1.23 per share a year ago, indicating an earnings surprise of +80.43% [1] - The company achieved revenues of $93.95 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 81.09%, compared to $111.99 million in the same quarter last year [2] - Over the last four quarters, Okeanis Eco Tankers has consistently surpassed consensus EPS and revenue estimates [2] Stock Performance - Okeanis Eco Tankers shares have increased approximately 13.8% since the beginning of the year, outperforming the S&P 500's gain of 8.4% [3] - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $46.74 million, and for the current fiscal year, it is $1.94 on revenues of $210.79 million [7] Industry Outlook - The Transportation - Shipping industry, to which Okeanis Eco Tankers belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly affect stock performance [5][8]