On 05/21/25, Cool Company (CLCO) announced their Q1 2025 results, including
- Operating rev of $85.5M
- Adjusted EBITDA of $53.4M
- Net Income of $9.1M
- TCE avg of $70,600 daily
Two vessels have completed their dry docks in Q1 2025. And an additional vessel, subsequent to that period. Two vessels, each with LNGe upgrade, have secured charters - one starting in Q2 2025, one starting in Q3 2025. Will be interesting to see how this eventually impacts TCE rate. It should be a positive. But CLCO is being impacted by more spot coverage and repositioning costs. Interestingly, the first newbuild is still trading spot.
In April 2025, CLCO announced a share buyback agreement. So far, CLCO has repurchased ~700K shares (@ $5.59/share). Useful as a price marker