Navigator .(US:NVGS) Globenewswire·2026-03-11 20:15Financial Performance - The company reported total operating revenues of $152.8 million for Q4 2025, an increase of 6.1% from $144.0 million in Q4 2024 [3][32] - Net income attributable to stockholders was $18.5 million for Q4 2025, down from $21.6 million in Q4 2024, reflecting a decrease of 14.4% [3][27] - EBITDA for Q4 2025 was $70.9 million, compared to $68.0 million in Q4 2024, showing an increase of 4.3% [3][26] - Adjusted EBITDA remained stable at $73.4 million for both Q4 2025 and Q4 2024 [3][26] - Basic earnings per share decreased to $0.28 in Q4 2025 from $0.31 in Q4 2024, while adjusted basic earnings per share fell to $0.32 from $0.39 [3][27] Capital Return Policy - The company declared a cash dividend of $0.07 per share for Q4 2025, payable on March 31, 2026, to shareholders of record as of March 23, 2026 [3][18] - The company plans to repurchase approximately $1.0 million of its common stock between March 13, 2026, and March 31, 2026, as part of its capital return strategy [3][18] - The combined dividend and share repurchases are expected to equal 30% of net income for Q4 2025 [3][18] Fleet and Operational Updates - The average daily time charter equivalent (TCE) rate was $30,647 for Q4 2025, up from $28,341 in Q4 2024 [5][39] - Fleet utilization was 90.0% in Q4 2025, down from 92.2% in Q4 2024 [6][28] - The company operated an average of 28 vessels under time charters and 20 vessels on spot voyage charters during Q4 2025 [10] Ethylene Export Market - U.S. ethylene exports reached 201,000 metric tons in Q4 2025, down from 270,000 metric tons in Q3 2025, but in line with the quarterly average of 204,000 metric tons for 2025 [8] - The company’s share of the Ethylene Export Terminal reported throughput of 191,707 metric tons in Q4 2025, compared to 159,183 metric tons in Q4 2024 [14][44] Debt and Liquidity - The company reduced its debt by $33.0 million to $900.2 million during Q4 2025 [3][26] - As of December 31, 2025, total liquidity was $296.3 million, down from $308.0 million as of September 30, 2025 [3][26] Market Assessment - The handysize 12-month forward-looking market assessment for semi-refrigerated vessels increased to $956,000 per calendar month by the end of Q4 2025 [11] - The market assessment for fully refrigerated vessels increased to $775,000 per calendar month, while the assessment for ethylene-capable vessels decreased to $1,026,000 per calendar month [12][11]