C3is Q2 FY26 swings to net income of USD 10 million; revenue rises 124% to USD 24.04 million
CISS•Cash and utilization improve
Cash, cash equivalents and time deposits jumped 122.8% to USD 33.2 million versus year-end 2025.
Fleet operational utilization edged up 0.6 percentage points to 78.6%, hit by Aframax idle days and product-tanker drydocking.
Fleet acquisitions and outlook
Two product tankers were acquired for USD 39.8 million payable by January 2027.
Management said it sees H2 2026 mirroring H1 strength.
Q2 results swing to profit as revenue rises
C3is posted Q2 GAAP net income of USD 10 million, swinging from a loss a year earlier, as revenue rose to USD 24.04 million.
EBITDA climbed to USD 12.03 million from a loss, and daily TCE more than doubled to USD 40,260.
