Q2 2026 Stolt-Nielsen Ltd Earnings Call Transcript
Key Points
- Stolt-Nielsen Ltd (SOIEF) delivered a steady performance in Q2 despite significant market disruptions in the Middle East.
- Group EBITDA was strong at $177 million, showcasing the company's resilience and diversified business model.
- Stolthaven Terminals achieved its highest ever quarterly operating profit, contributing significantly to group EBITDA.
- The company launched a new digital innovation center in Hyderabad, enhancing data and AI capabilities.
- A final dividend of $1 per share was paid in May, bringing the total dividend for 2025 to $2 per share.
- EBITDA decreased by 16% year over year, impacted by softer tanker rates and integration costs.
- Operating profit fell by $70.5 million year-over-year due to lower contract freight rates and integration costs.
- Net profit declined by 31%, driven by lower freight rates and FX losses.
- Stolt Tankers experienced an 11% decline in TCE per operating day compared to the prior year.
- The market visibility remains unclear, and the company has not reinstated earnings guidance due to ongoing volatility.
(audio in progress)
With that, let's turn the page. We delivered a steady performance in the second quarter despite the market shock in the Middle East causing significant market disruption.
Group EBITDA came in at $177 million, which is a strong performance in the context of the closure of the Strait of Hormuz, which has reshaped global supply chains over the last 4 months. The relative stability of the results are a testament of the diversification of risk within our business model. We are not a shipping company that does logistics. We are a logistic company that operates ships. Stolt Tankers delivered a stable quarter-on-quarter performance despite the volatile market and non-tanker activities contributed 45% of group EBITDA this quarter with Stolthaven Terminals achieving its highest ever quarterly operating profit.
The ceasefire framework announced in June allows for a period of increased shipping activity in the region. However, the situation remains volatile. We are monitoring developments day by day. Near-term,
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