Core Insights - TEN, Ltd. has reported significant growth in its fleet and financial performance, with a proforma fleet of 82 vessels and a minimum revenue backlog of 4.0billion,indicatingstrongfuturecashflowvisibility[20][22]−Thecompanygeneratedgrossrevenuesof804.1 million and net income of 176.2millionfortheyear2024,translatingtoanannualEPSof5.03 [4][8] - The adjusted EBITDA for 2024 reached approximately 400million,reflectingtheincreasedsizeofthefleetandefficientmanagement[5][30]FinancialPerformance−Forthetwelvemonthsof2024,TEN′soperatingincomewas278.6 million, after accounting for 48.7millionincapitalgainsfromvesselsales[4][30]−InQ42024,thecompanyreportedgrossrevenuesof188.3 million and net income of 19.3million,withanEPSof0.42 [8][30] - Fleet utilization for 2024 was at 92.5%, with an average TCE per ship per day of 32,550[4][29]FleetExpansionandStrategy−TENisexpandingitsfleetwith21newvessels,resultingina362.0 billion in revenues [2][13] - The ongoing fleet renewal includes the sale of older vessels, such as a 2009-built suezmax, generating 30millioninfreecash[2][14]MarketOutlook−Thetankermarketfundamentalsremainstrong,supportedbygeopoliticaleventsandafavorablesupply−demandbalance[15][16]−TEN′sstrategyfocusesonbuildingvesselsforlong−termneedsofblue−chipcustomerswhileexploringdivestmentopportunitiesforoldertankers[17][19]−Thecompanyaimstomaintainuninterrupteddividendpayments,havingdistributedatotalof895 million since its NYSE listing in 2002 [2][12]
