Stolt-Nielsen Limited Reports Unaudited Results For the Third Quarter and Nine Months of 2026
Steady underlying performance against a challenging market backdrop
LONDON, October 1, 2026 – Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the third quarter and the nine months ending August 31, 2026. The Company reported a third quarter net profit of $84.4 million with revenue of $776.5 million, compared with a net profit of $64.0 million with revenue of $699.9 million in the third quarter of 2025. Net profit in the third quarter of 2026 included a gain of $15.4 million on the sale of a 50% interest in Avenir LNG Limited (Avenir LNG). The net profit for the first nine months of 2026 was $183.6 million with revenue of $2,243.6 million, compared with a net profit of $290.6 million with revenue of $2,088.4 million in the first nine months of 2025, which included $75.2 million in one-off gains related to the step-up of equity investments in Avenir LNG and Hassel Shipping 4 (HS4).
Highlights for the third quarter of 2026, compared with the third quarter of 2025, were:
- Stolt-Nielsen Limited (SNL) consolidated EBITDA1 of $194.1 million, up from $191.7 million.
- Earnings per share (EPS) was $1.59, up from $1.20.
- Stolt Tankers reported operating profit of $52.1 million, down from $57.2 million.
- Average deep-sea time-charter equivalent (TCE) revenue2 was $24,121 per operating day, compared to $24,838.
- Stolthaven Terminals reported operating profit of $27.1 million, up from $26.3 million.
- Stolt Tank Containers reported operating profit of $13.1 million, up from $11.7 million.
- Corporate and Other, including Stolt Sea Farm (SSF) and Stolt-Nielsen Gas (SNG), reported an operating profit (including the impact of the fair value of biological assets adjustment) of $8.5 million, compared to an operating profit of $14.2 million.
Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, commented:
“I am pleased to report underlying operating performance broadly in line with last year, and an improvement on the prior quarter, despite a challenging macro backdrop. Global supply chains are complex, and visibility remains short. Customer conversations have evolved from supply chain efficiency to supply chain resilience. Our portfolio allows us to offer the flexibility of shipping, storage, and intermodal solutions to support our customers’ logistics needs.
“In the third quarter, Stolt Tankers earnings declined year-on-year, but were stable versus the prior quarter, with firmer average freight rates offset by lower volumes and higher bunker costs. Stolthaven Terminals increased utilisation and operating profit year-on-year. Stolt Tank Containers (STC) continues to integrate the Suttons business, increasing scale, broadening the product offering, and extending market reach. Together with margin improvement, this supported a return to an operating profit this quarter for STC.
“Stolt Magnesium was subject to an attack off Oman in July. We have insurance cover and expect minimal financial impact on the Company and, importantly, I am relieved that our seafarers suffered no physical injuries and the cargo was secured. During the quarter, we completed the sale of a 50% interest in Avenir LNG to NYK Line, creating a strategic partnership to accelerate growth in small-scale LNG and LNG bunkering.”
1 Before fair value of biological assets, gain (loss) on sales of assets and other one-time, non-cash items.
2 TCE revenue per operating day refers to deep-sea STJS sailed-in revenue per day, which is calculated as voyage revenue less voyage related expenses and trading overhead expense, divided by total operating days during the period.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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