European Investor
12 Nov 2026, 09:11
Okeanis Eco Tankers Falls 5.3% After Hours Despite Record Q3 Profit and $7 Dividend
Okeanis Eco Tankers (NYSE: ECO) shares fell about 5.3% in after-hours trading despite reporting a sharp increase in third-quarter revenue and profit, exceptionally strong charter rates and a $7.00 per-share dividend.
Third-quarter revenue surged to $501.5 million from $90.6 million a year earlier, while profit jumped to $299.6 million from $24.1 million. EPS rose to $7.67 from $0.75.
Operating performance was supported by extremely strong tanker rates. Fleetwide TCE averaged $206,800 per available spot day, while VLCC TCE reached $269,300 and Suezmax TCE was $166,600. Adjusted EBITDA totaled $320.4 million.
Okeanis also entered into short-term charter agreements for five VLCCs at an average rate of $449,200 per day for periods of 100 to 150 days.
Early fourth-quarter bookings remain strong. The company said 48% of available VLCC spot days had been booked at an average TCE of $688,800 per day, while 60% of Suezmax available days were booked at $410,900.
The board declared a $7.00 per-share quarterly dividend, payable December 1 to shareholders of record as of November 23.
The 5.3% after-hours decline appears more consistent with profit-taking or elevated expectations than deterioration in the reported fundamentals, given the extraordinary year-over-year earnings growth, strong forward charter rates and sizable shareholder distribution.
Okeanis Eco Tankers (NYSE: ECO) shares fell about 5.3% in after-hours trading despite reporting a sharp increase in third-quarter revenue and profit, exceptionally strong charter rates and a $7.00 per-share dividend.
Third-quarter revenue surged to $501.5 million from $90.6 million a year earlier, while profit jumped to $299.6 million from $24.1 million. EPS rose to $7.67 from $0.75.
Operating performance was supported by extremely strong tanker rates. Fleetwide TCE averaged $206,800 per available spot day, while VLCC TCE reached $269,300 and Suezmax TCE was $166,600. Adjusted EBITDA totaled $320.4 million.
Okeanis also entered into short-term charter agreements for five VLCCs at an average rate of $449,200 per day for periods of 100 to 150 days.
Early fourth-quarter bookings remain strong. The company said 48% of available VLCC spot days had been booked at an average TCE of $688,800 per day, while 60% of Suezmax available days were booked at $410,900.
The board declared a $7.00 per-share quarterly dividend, payable December 1 to shareholders of record as of November 23.
The 5.3% after-hours decline appears more consistent with profit-taking or elevated expectations than deterioration in the reported fundamentals, given the extraordinary year-over-year earnings growth, strong forward charter rates and sizable shareholder distribution.
