Financial Performance - The company reported a net income of $45.9 million for the nine months ended September 30, 2025, compared to $37.5 million for the same period in 2024, representing an increase of 22.5% [7][12][13] - For the third quarter of 2025, net income was $18.7 million, up from $15.1 million in the same quarter of 2024, marking a 23.8% increase [13][21] - Adjusted EBITDA for the third quarter was $27.6 million, a decrease of 4.5% from $28.9 million in the same quarter of 2024 [19][12] Revenue and Utilization - Voyage revenues for the third quarter of 2025 were $38.9 million, slightly down from $39.1 million in the same quarter of 2024, a decrease of 0.5% [15][12] - The fleet maintained a utilization rate of 99.1% for the third quarter of 2025, compared to 100% in the same period of 2024 [17][12] - The Time Charter Equivalent (TCE) rate was $67,094 per day, which exceeded the cash breakeven of approximately $47,500 per day [8][12] Cash Flow and Distributions - The company generated net cash from operating activities of $26.5 million for the third quarter of 2025, an increase of 3.5% from $25.6 million in the same quarter of 2024 [24][12] - A quarterly cash distribution of $0.050 per common unit was declared, representing an annualized distribution yield of approximately 5.7% [9][12] Fleet and Contracts - The company has an estimated contracted revenue backlog of $0.88 billion, with an average remaining contract term of 5.4 years [27][12] - As of September 30, 2025, the company had 100% contracted time charter coverage for its fleet for the years 2025, 2026, and 2027 [27][12] Recent Events - The company fully redeemed 2,200,000 Series B Preferred Units on July 25, 2025, for a total payment of $55 million, funded by internal cash reserves [5][26] - The company continues to monitor the impact of geopolitical events, particularly sanctions related to the ongoing conflict in Ukraine, but currently reports no material effects on its operations [32][33]

Financial Results Announcement - TEN Ltd. will report its financial results for the third quarter and nine months ended September 30, 2025, prior to the market opening in New York on November 20, 2025 [1] - A conference call will be held on the same day at 10:00 am Eastern Time to review the results and management's outlook for the business [2] Conference Call Details - Participants should dial in 10 minutes before the scheduled time using the provided numbers: 877-405-1226 (US Toll-Free) or +1 201-689-7823 (International) [3] - An alternative "call me" option is available for faster connection to the conference call [4] Webcast Information - A live and archived webcast of the conference call, along with accompanying slides, will be available on the Company's website [5] Company Overview - TEN Ltd. was founded in 1993 and is one of the first established public shipping companies globally, celebrating 32 years as a public entity [5] - The Company's diversified energy fleet consists of 82 vessels, including various types of tankers and carriers, totaling approximately 11 million deadweight tonnage (dwt) [5]