NYSE$GSL

Global Ship Lease Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Global Ship Lease reported strong earnings for Q3 2025, driven by higher charter rates and increased fleet utilization.

Global Ship Lease posted a solid Q3 2025 with increased revenue, higher EPS, and net income supported by improved charter terms and fleet additions. Operational expenses rose due to inflation and maintenance, but financial discipline contributed to a strong balance sheet.

  • Revenue reached $192.7 million, a 10.7% increase from the prior year period.
  • Net income available to common shareholders was $92.6 million.
  • Adjusted EBITDA grew to $130.2 million, driven by new vessel additions and charter renewals.
  • Declared quarterly dividend increased to $0.625 per share, annualized to $2.50.

Headline financials

Total Revenue

$193M

Previous: $174M+10.7%
EPS (adj)

$2.62

Previous: $2.45+6.9%
Adjusted EBITDA

$130M

No prior period
Contracted Revenue Added

$778M

No prior period
Total Contracted Revenues

$1.92B

No prior period
Quarterly Dividend per Share

$0.63

No prior period
Fleet Utilization

95.9%

No prior period
Vessel Operating Expenses

$52.1M

No prior period
Avg Cost per Ownership Day

$8.2K

No prior period
Time Charter & Voyage Exp

$6.96M

No prior period
Depreciation & Amortization

$30.7M

No prior period
G&A Expenses

$3.75M

No prior period
Interest & Finance Expenses

$9.54M

No prior period
Interest Income

$5.43M

No prior period
Fair Value Adjustment Deriv.

-$1.11M

No prior period
Preferred Share Earnings

$2.38M

No prior period
Fleet Size

69

No prior period
Average Fleet Age (years)

18

No prior period
Avg Remaining Charter Term

2.5

No prior period
Total Debt

$732M

No prior period
Net Income

$92.6M

Previous: $78.8M+17.6%
Operating Income

$99.2M

Previous: $92.2M+7.6%

Revenue & EPS history

Global Ship Lease · Revenue · Quarterly

$193M

Q3 2025+10.7%vs Q3 2024
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Forward guidance

GSL is confident in its financial position, with strong charter coverage through 2027 and plans to remain agile amid global trade uncertainties.

Tailwinds

  • 100% of 2025 charter coverage secured
  • 96% coverage for 2026 and 74% for 2027
  • Strategic focus on flexible fleet renewal
  • Low breakeven costs despite inflation
  • Dividend increased based on strong performance

Headwinds

  • Geopolitical uncertainty remains high
  • Supply chain inefficiencies impacting planning
  • Interest rate hedging does not fully cover floating debt
  • Elevated vessel maintenance costs due to inflation
  • Fragmented global trade routes challenge logistics

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-0.2%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+0.6%

Avg return

30 days after

54%

33 / 61 earnings

Positive

+17.1%

Q2 2015

Best reaction

-48.2%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.9%-9.9%-6.7%
Q4 2025-3.8%+1.7%+4.7%
Q3 2025+9.1%+8.9%+12.9%
Q2 2025+2.0%+4.6%+8.0%
Q1 2025+5.3%-2.5%+6.6%
Q4 2024+8.2%+6.9%-9.8%
Q3 2024-5.4%-3.8%-11.4%
Q2 2024+7.3%+7.5%-3.7%
Q1 2024+7.8%+9.7%+12.9%
Q4 2023-8.0%-3.4%+2.6%
Q3 2023+1.4%+5.4%+8.3%
Q2 2023-0.7%-1.7%-7.2%
Q1 2023+4.6%+6.4%+4.6%
Q4 2022+6.8%+6.2%-3.3%
Q3 2022+3.7%+1.7%-3.5%
Q2 2022-2.2%-1.5%-7.1%
Q1 2022-4.5%-6.0%-5.2%
Q4 2021+14.0%+7.7%+14.5%
Q2 2021+7.1%+11.5%+35.8%
Q4 2020-13.4%-3.8%+0.7%
Q2 2020+3.0%+10.2%+18.1%
Q1 2020-3.3%-3.1%+1.9%
Q4 2019-9.8%-12.2%-47.6%
Q3 2019-1.9%+0.1%+17.7%
Q2 2019-6.1%-1.0%-16.3%
Q1 2019+3.5%+4.4%+18.2%
Q4 2018+4.5%+0.0%-10.6%
Q3 2018+8.6%+12.6%+0.0%
Q2 2018+2.5%+7.4%-4.9%
Q1 2018+2.5%+11.8%+20.2%
Q4 2017-2.6%-7.0%-1.7%
Q3 2017-2.1%+32.9%-19.2%
Q2 2017-12.5%-17.6%-21.3%
Q1 2017+4.4%-1.5%-7.4%
Q4 2016-9.8%-9.8%-7.8%
Q3 2016+4.8%-1.6%+32.0%
Q2 2016+0.0%-14.0%-2.3%
Q1 2016+13.9%
Q4 2015-48.2%
Q3 2015-6.0%
Q2 2015+17.1%
Q1 2015+0.9%
Q4 2014+3.1%
Q3 2014+8.3%
Q2 2014-5.6%
Q1 2014+5.0%
Q4 2013-1.8%
Q3 2013+6.3%
Q2 2013-2.4%
Q1 2013+2.4%
Q4 2012-16.6%
Q2 2012+0.6%
Q1 2012+6.6%
Q4 2011-4.3%
Q3 2011-6.2%
Q4 2010+7.5%
Q2 2011-19.3%
Q1 2011-0.6%
Q3 2010+4.5%
Q2 2009+2.7%
Q1 2010+0.0%

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