I picked up a handful of the Series F preferred shares of Tsakos Energy Navigation Limited ( TEN ) during the COVID pandemic, and I have been thrilled with my total return. The common shares haveThe Investment Doctor is a financial writer, highlighting European small-caps with a 5-7 year investment horizon. He strongly believes a portfolio should consist of a mixture of dividend and growth stocks. He is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable r ...

I picked up a handful of the Series F preferred shares of Tsakos Energy Navigation ( TEN ) during the COVID pandemic, and I have been thrilled with my total return. The common shares have alsoThe Investment Doctor is a financial writer, highlighting European small-caps with a 5-7 year investment horizon. He strongly believes a portfolio should consist of a mixture of dividend and growth stocks. He is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable rese ...

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Tsakos Energy Navigation (NYSE:TEN) Q3 2025 Earnings Call November 20, 2025 10:00 AM ET Company ParticipantsNikolas Tsakos - Founder and CEONicolas Bornozis - Investor Relations AdvisorHarrys Kosmatos - Co-CFOTakis Arapoglou - Chairman of the BoardGeorge Saroglou - President and COOConference Call ParticipantsClement Mullins - AnalystPoe Fratt - Managing Director of Equity Research and Senior Transportation AnalystOperatorThank you for standing by, ladies and gentlemen, and welcome to Tsakos Energy Navigati ...

Tsakos Energy Navigation (NYSE:TEN) Q3 2025 Earnings Call November 20, 2025 10:00 AM ET Company ParticipantsNikolas Tsakos - Founder and CEONicolas Bornozis - Investor Relations AdvisorHarrys Kosmatos - Co-CFOTakis Arapoglou - Chairman of the BoardGeorge Saroglou - President and COOConference Call ParticipantsClement Mullins - AnalystPoe Fratt - Managing Director of Equity Research and Senior Transportation AnalystOperatorThank you for standing by, ladies and gentlemen, and welcome to Tsakos Energy Navigati ...

Financial Data and Key Metrics Changes - For the nine months of 2025, the company generated $577 million in gross revenues and an operating income of $171 million, which included $12.5 million of capital gains from the sale of four older vessels [22][29] - The net income for the third quarter of 2025 was reported at $38.3 million, translating to $1.05 in earnings per share [32] - Adjusted EBITDA for the nine months of 2025 was approximately $290 million, while cash at hand at the end of September 2025 stood at $264 million [29][32] Business Line Data and Key Metrics Changes - The fleet utilization increased from 92.2% to 96.2% during the nine months of 2025, with a time charter equivalent rate of $30,703 [24] - The fleet time charter equivalent per day for the third quarter of 2025 was $30,601, reflecting a focus on diminishing presence in the spot markets [30] - Operating expenses per ship per day averaged $9,797 for the nine months of 2025, and $9,904 for the third quarter [25][31] Market Data and Key Metrics Changes - The tanker markets have remained healthy, with a significant increase in demand for vessels, particularly in the crude sector and VLCCs [21] - The company has a backlog of approximately $4 billion in minimum fleet contracted revenue, indicating strong market demand [11][22] - The average age of sold vessels was 17.3 years, while the average age of newly acquired vessels is 0.6 years, indicating a strategic shift towards a younger fleet [18] Company Strategy and Development Direction - The company is focusing on a record 20 vessel new building program, with deliveries starting in Q1 2026 until Q4 2028, including three VLCCs to grow its market presence [5][6] - The strategy includes selling older tonnage to maintain a modern fleet and investing in eco-friendly, dual-fuel vessels [18] - The company aims to align dividend payments with audited results, having declared an additional $1 per share dividend [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market, noting a more than 50% increase in the spot market since September [8] - The geopolitical landscape has created nervousness in the market, which the company plans to leverage through its chartering strategy [36] - The company anticipates continued strong performance in the upcoming quarters, driven by a robust demand for tanker services [9][35] Other Important Information - The company has successfully navigated various crises over the years, turning challenges into growth opportunities [11] - The fair market value of the operating fleet is approximately $4 billion against $1.9 billion in debt, with a net debt to capital ratio of around 47% [18] Q&A Session Summary Question: Clarification on VLCC employment terms and plans for the Ulysses vessel - Management noted a significant increase in profit-sharing arrangements and a strong appetite for vessels, with further details to be provided later [38] Question: Plans for the Maria Energy vessel after its current contract - The vessel is chartered back-to-back with no downtime expected between contracts [40] Question: Expectations for MR new builds and potential long-term contracts - There is a strong appetite for new builds, with several major oil companies interested in long-term contracts [41] Question: Insights on fleet renewal and asset sales - The company is negotiating the sale of five first-generation vessels, potentially releasing close to $250 million in net cash for the new building program [49]

TEN, Ltd. November 20, 2025 Q3 & 9mo 2025 Earnings Presentation This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ ...

$4 billion in Minimum Contracted Revenue Gross Revenues of $577 million and net income of $103 million, or $2.75 per share $1.00 New Common Share Dividend, following $0.60 July 2025 Semi- Annual Payment Dynamic growth – 20 Vessel Total Newbuilding Program Including Three VLCCs Stronger Tanker Fundamentals Supported by Market Tightness and Geopolitics ATHENS, Greece, Nov. 20, 2025 (GLOBE NEWSWIRE) -- TEN, Ltd (TEN) (NYSE: TEN) (the “Company”) today reported results (unaudited) for the nine months and third ...

Value Investor's Edge provides the world's best shipping market research. Even during turbulent market conditions, our long-only models have massively outperformed the broad markets, including beating the S&P 500 by 75% in 2022. VIE research has driven an IRR of 38.7% over the past 10 years, driving cumulative returns of over 25x which proves the ability of our research team to outperform across a variety of market conditions.In the following report, I highlight how the shipping industry has been a source o ...

Core Insights - Tenneco LLC has successfully listed its subsidiary, Tenneco Clean Air India Limited, on the BSE and NSE under the ticker "TENNIND" [1] - This listing is a significant milestone in Tenneco's transformation and highlights India's growing role in innovation and sustainable mobility [3] Company Overview - Tenneco India includes the Clean Air, Champion Ignition, Powertrain (Bearings and Sealings), and Monroe Ride Solutions (MRS) businesses, representing a substantial part of Tenneco's manufacturing and engineering in the region [4] - The operations serve leading OEMs in India and globally, focusing on emission reduction and improved fuel economy to meet stricter regulations, as well as enhancing ride comfort amid the trend of passenger vehicle premiumization [4] Leadership Statements - Jim Voss, CEO of Tenneco LLC, emphasized the importance of the team’s execution and its impact on Tenneco's position in a dynamic market, reinforcing the company's commitment to India [4] - Arvind Chandra, CEO of Tenneco India, noted that the public listing reflects the business's maturity and the company's dedication to innovation and performance [5] Strategic Implications - The listing aligns with Tenneco's long-term strategy to enhance agility, transparency, and sustained growth, while also investing in talent, R&D, and export capabilities from India [5]