Navios Partners Posts $106.3M Q1 Net Income, $357M Revenue, $616M Fleet Investments
Navios Maritime Partners reported Q1 revenue of $357.0 million, net income of $106.3 million and EPS of $3.64, generating $126.6 million operating cash and EBITDA of $212.7 million. The partnership bought six scrubber-fitted newbuildings for $616.3 million, repurchased 240,502 units for $15.6 million, and declared a $0.06 quarterly distribution.
1. First Quarter Financial Results
Navios Maritime Partners reported revenue of $357.0 million, net income of $106.3 million and earnings per unit of $3.64 in the first quarter. Net cash from operating activities totaled $126.6 million and EBITDA reached $212.7 million.
2. Unitholder Distributions and Repurchases
As of May 15, the partnership repurchased 240,502 common units in 2026 and 1,759,769 units since the program began, at a total cost of $15.6 million and $83.6 million, respectively. The board declared a $0.06 cash distribution per unit for Q1 2026, payable May 14 to holders of record May 11.
3. Fleet Expansion Initiatives
In 2026 year-to-date, Navios Partners invested $616.3 million to acquire six scrubber-fitted newbuild vessels, including four VLCCs at $482.0 million and two capesize vessels at $134.3 million. The VLCCs are chartered for about five years at $47,763 net per day, with delivery expected in the second half of 2028 and options on two additional units.
4. Asset Sales and Contracted Revenue
The partnership realized $189.3 million gross from the sale of five vessels averaging 17 years of age, including $136.5 million from two VLCC tankers, $30.0 million from a 4,730 TEU containership and $22.8 million from two dry bulk vessels. Navios Partners holds $4.1 billion in contracted revenue as of May 2026 for its active fleet.