TMD Energy First-Half Revenues Drop 22.5% to $247.6M, Net Loss $8.5M
TMDE•TMD Energy’s first-half revenues fell 22.5% to $247.6 million on a 10.1% drop in bunkering volume to 516,676 metric tons, while gross profit plummeted 93.8% to $0.7 million, yielding a 0.3% margin. Net loss reached $8.5 million versus $0.9 million income a year earlier.
1. Financial Performance
Total revenues for the six months ended December 31, 2025, decreased by 22.5% to $247.6 million from $319.6 million a year earlier. Gross profit tumbled 93.8% to $0.7 million, driving a net loss of $8.5 million compared to net income of $0.9 million in the prior period.
2. Operational Volume Decline
Bunkered and traded volume fell 10.1% to 516,676 metric tons, reflecting softer global trade and a 16.0% drop in average oil prices. The cost-plus pricing model compressed selling prices as market demand weakened and competition intensified.
3. Profitability Pressures
Higher crew wages, elevated transportation and maintenance costs further squeezed margins despite a 20.0% reduction in cost of revenues to $246.9 million. Selling and marketing expenses rose on increased client engagement, while general and administrative costs climbed 20.9% due to professional fees and staffing.
4. Green Bioenergy Strategy
The company extended its memorandum with Double Corporate Sdn Bhd for two years to evaluate ISCC-EU-approved waste-based biofuels. This collaboration aims to integrate sustainable marine and aviation fuels into TMDE’s bunkering footprint as global demand for greener fuels grows.
