Capital Clean Energy Carriers (CCEC) Q2 2025 earnings summary

Executive summary

• Net income from continuing operations reached $29.9 million in Q2 2025, with a declared dividend of $0.15 per share and the launch of a Dividend Reinvestment Program.

• Revenue rose 27% year-over-year to $104.2 million, driven by fleet expansion and new LNG carrier deliveries.

• Strategic shift completed: 12 container vessels sold, focus now on LNG and gas carriers, with 16 new gas vessels scheduled for delivery through 2027.

• Contracted revenue backlog exceeds $3.0 billion, with 89% from gas assets and an average remaining charter duration of 7.1 years.

• Secured financing for two LCO2 carriers under construction, with deliveries expected in 2026.

Financial highlights

• Q2 2025 revenues were $104.2 million, up from $82.1 million in Q2 2024.

• Operating income rose to $56.5 million from $42.1 million year-over-year.

• Net income from continuing operations increased to $29.9 million from $12.3 million year-over-year.

• Cash position at quarter-end was $357.2 million, including restricted cash.

• Total shareholders' equity increased to $1,438.9 million from $1,343.0 million at year-end 2024.

Outlook and guidance

• 16 gas carriers, including six LNG and ten LPG/ammonia/LCO2 vessels, scheduled for delivery through 2027.

• 100% charter coverage for 2025 and 80% for 2026, supporting revenue visibility.

• Management expects continued fleet rationalization and robust long-term demand for modern LNG carriers.

• Active discussions ongoing for chartering open vessels; positive charter rate trends observed.

• Backlog could increase to 118 years if all charter options are exercised.