Greece's Navios Maritime Q2 revenue beats estimates on higher time charter equivalent rates

Navios Maritime Partners

20/08/2026 12:34

Overview
Greece-based dry cargo and tanker operator's Q2 revenue rose 25% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations; adjusted net income was a slight beat
Company authorized new $200 mln unit repurchase program

Outlook
Navios Partners expects contracted revenue of $591.2 mln for H2 2026 and $884.8 mln for 2027
Company has fixed 77.1% of available days for H2 2026 and 50.9% for 2027
Company says geopolitical conflicts may shift global trade patterns and result in longer-haul routes

Result Drivers
HIGHER TCE RATES - Co said Q2 revenue increase was mainly due to higher time charter equivalent rates across its fleet
LOWER OPERATING EXPENSES - Co said vessel operating expenses fell due to a decrease in opex days
LOWER INTEREST EXPENSE - Co said adjusted net income benefited from a decrease in interest expense and finance cost, net

Company press release: ID:nGNXc3QRQ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$410.17 mln
$355.77 mln (4 Analysts)
Q2 Adjusted EPS
Beat
$4.65
$4.39 (5 Analysts)
Q2 Adjusted Net Income
Slight Beat*
$134.97 mln
$134.22 mln (3 Analysts)
Q2 Net Income
 
$167.92 mln
 
Q2 Adjusted EBITDA
Beat
$242.20 mln
$231.09 mln (5 Analysts)
Q2 EBITDA
 
$275.15 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy."
Wall Street's median 12-month price target for Navios Maritime Partners L.P. is $95.00, about 13.7% above its August 19 closing price of $83.58
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

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Aug 18 - Greek-owned bulk carrier on fire off Novorossiysk after drone hit, source says

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)