CMBT CMB.TECH NV.
Price Chart
Executive Summary
CMB.TECH reported Q1 2026 profit of $368.8M ($1.27/share) versus $40.4M a year ago, driven by a red-hot tanker market, vessel sales gains on vessel sales ($267.4M), and strong dry bulk/offshore performance. Revenue surged 121% YoY to $519.6M. The company announced an intended distribution of $0.64 per share. Consensus estimates for EPS ($0.20) appear to be a mismatch with the reported $1.27 — likely because the Street tracks a different metric (net income excluding vessel sale gains) or the consensus was stale.
Actionable Insight
The massive earnings beat stems primarily from exceptional tanker spot rates and vessel sale gains — both partially non-recurring. Monitor Q2 TCE updates provided (VLCC $182K/day, Suezmax $122K/day QTD) which point to an even stronger Q2. The $0.64/share distribution signals strong cash return. Watch for sustainability of tanker market normalization as Strait of Hormuz reopening looms and fleet supply overhang grows in late 2026.
Key Facts
- Q1 2026 profit of $368.8M vs $40.4M in Q1 2025 ($1.27 vs $0.23 per share)
- Revenue more than doubled to $519.6M from $235.0M YoY
- EBITDA of $558.3M vs $158.4M YoY
- Net gain on vessel disposals of $267.4M in Q1 2026
- Contract backlog grew to $3.26B (+$109M from prior period)
- Intended distribution of $0.64 per share (interim dividend $0.20 + share premium $0.44)
- Strong spot TCE rates: VLCC $70,204/day (Q1), Suezmax $91,849/day; Q2-to-date spot rates substantially higher
- Newbuilding deliveries: 7 vessels delivered YTD; VLCC, Suezmax, CSOV, Newcastlemax
Financial Impact
Q1 profit increased ~$328M YoY; revenue grew $285M YoY; vessel sale gains $221M higher YoY
Risk Factors
- Vessel sale gains ($267M) are non-recurring; core shipping income ex-gains was ~$540M
- Tanker rates may normalize sharply if Strait of Hormuz reopens — Q3/Q4
- Higher newbuilding orderbook (VLCC OB/F ~27%, Suezmax ~28%) pressures rates medium-term
- Growing fleet supply in tankers forecast to exceed trade demand in 2026.8% in 2026
- Geopolitical uncertainty in Middle East could disrupt operations or trade flows
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3297129 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
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May 26, 2026
17d ago
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6-K
| $15.75 $15.36 | ▼ −2.48% | ▼ −3.68% | $15.50 (−1.59%) |
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May 21, 2026
22d ago
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Press Release
| $17.16 $15.53 | ▼ −9.50% | ▼ −11.10% | $15.50 (−9.67%) |
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May 19, 2026
25d ago
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Press Release
| $15.93 $15.11 | ▼ −5.18% | ▼ −7.47% | $15.50 (−2.70%) |
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May 7, 2026
5w ago
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6-K
| $14.83 $14.90 | ▲ +0.47% | ▼ −0.99% | $15.50 (+4.52%) |
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May 7, 2026
5w ago
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Press Release
| $14.76 $14.98 | ▲ +1.49% | ▼ −0.01% | $15.50 (+5.01%) |
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Apr 23, 2026
7w ago
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6-K
| $12.87 $13.44 | ▲ +4.43% | ▲ +2.95% | $15.50 (+20.44%) |
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Apr 21, 2026
7w ago
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Press Release
| $12.89 $13.24 | ▼ −2.72% | ▼ −1.63% | $15.50 (−20.25%) |
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Apr 1, 2026
10w ago
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6-K
| $12.74 $12.30 | ▼ −3.41% | ▼ −7.03% | $15.50 (+21.69%) |
US Market Status
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