NYSE$TEN
Tsakos Energy Navigation Limited · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
TEN Q2 2025: voyage revenue $193.3M down 9.7%; net income $26.8M or $0.67 per share
Tsakos Energy Navigation (TEN) reported Q2 2025 voyage revenues of $193.3 million, down 9.7% from $214.1 million in Q2 2024, reflecting weaker tanker spot market rates despite fleet utilization improving to 96.6% from 92.4%. Operating income was approximately $50.0 million with no vessel sale gains compared to $32.5 million in gains in Q2 2024. Net income attributable to common shareholders was $26.8 million, or $0.67 per share, versus $76.4 million and $2.36 per share in the prior-year quarter. Fixed-rate time charter revenue rose 3.3% to $89.7 million on new suezmax deliveries including Athens 04 and Dr Irene Tsakos, while spot voyage revenue fell 43.5%. Adjusted EBITDA was $93.9 million.
- Q2 voyage revenue of $193.3M declined 9.7% YoY on softer tanker spot rates; H1 voyage revenue $390.4M down 6.1%.
- Net income of $26.8M ($0.67 EPS) vs $76.4M ($2.36 EPS) prior year; prior Q2 included $32.5M vessel sale gains.
- Fleet utilization improved to 96.6% from 92.4%; fixed-rate time charter revenue rose 3.3% to $89.7M.
- Profit-share charter revenue increased to $56.2M; new suezmax Athens 04 and Dr Irene Tsakos delivered in Q2.
- Adjusted EBITDA of $93.9M; spot voyage revenue fell 43.5% on fewer employment days (708 vs 1,033).
Headline financials
Revenue & EPS history
Tsakos · Revenue · Quarterly
$193M
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 Q2 2025
-0.8%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-1.6%
Avg return
30 days after
38%
25 / 66 earnings
Positive
+8.5%
Q1 2025
Best reaction
-18.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.6% | -10.5% | -14.4% | |
| Q4 2025 | +1.3% | -2.9% | +7.4% | |
| Q3 2025 | -1.1% | -3.3% | -12.7% | |
| Q2 2025 | -4.2% | +4.1% | -6.2% | |
| Q1 2025 | +8.5% | +9.7% | +3.0% | |
| Q4 2024 | +1.4% | +2.6% | +1.3% | |
| Q3 2024 | -6.2% | -8.6% | -13.8% | |
| Q2 2024 | +7.3% | +11.1% | +10.4% | |
| Q1 2024 | +1.8% | +3.9% | +1.5% | |
| Q4 2023 | -0.9% | +0.9% | +1.2% | |
| Q3 2023 | -1.9% | -3.3% | +6.7% | |
| Q2 2023 | +1.0% | -1.9% | +4.0% | |
| Q1 2023 | -5.5% | -4.4% | -10.4% | |
| Q4 2022 | -18.1% | -7.1% | -16.1% | |
| Q3 2022 | +2.7% | +10.2% | +9.5% | |
| Q2 2022 | -2.2% | +9.3% | +22.5% | |
| Q1 2022 | +1.8% | -15.5% | -14.0% | |
| Q4 2021 | +0.7% | +8.7% | +18.0% | |
| Q3 2021 | -5.0% | -8.0% | -20.7% | |
| Q2 2021 | +1.1% | +2.3% | +12.6% | |
| Q1 2021 | -3.3% | -0.3% | -7.9% | |
| Q4 2020 | +1.9% | -2.4% | +7.5% | |
| Q3 2020 | -1.5% | -3.3% | +15.1% | |
| Q2 2020 | -0.6% | -0.6% | -4.4% | |
| Q1 2020 | -6.4% | -9.9% | -3.2% | |
| Q4 2019 | -1.4% | -15.8% | -40.4% | |
| Q3 2019 | -2.2% | -5.1% | -4.3% | |
| Q2 2019 | +4.7% | +2.2% | +10.5% | |
| Q1 2019 | +0.9% | +2.8% | -0.3% | |
| Q4 2018 | -2.8% | -0.3% | +8.2% | |
| Q3 2018 | -2.8% | +1.5% | +0.6% | |
| Q2 2018 | +0.3% | -0.6% | -3.4% | |
| Q1 2018 | -0.5% | -1.9% | -2.5% | |
| Q4 2017 | +4.9% | +4.3% | +5.2% | |
| Q3 2017 | -0.4% | -0.7% | -5.8% | |
| Q2 2017 | -0.2% | -1.8% | -7.5% | |
| Q1 2017 | +2.0% | -2.0% | -7.0% | |
| Q4 2016 | +0.2% | +2.4% | -5.8% | |
| Q3 2016 | -5.5% | -12.8% | -5.9% | |
| Q2 2016 | -5.3% | -6.6% | -4.3% | |
| Q1 2016 | +2.0% | — | — | |
| Q4 2015 | -3.4% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | -3.1% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | +2.5% | — | — | |
| Q3 2014 | -0.9% | — | — | |
| Q2 2014 | -2.7% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | +1.5% | — | — | |
| Q3 2013 | -1.8% | — | — | |
| Q2 2013 | -3.4% | — | — | |
| Q1 2013 | +5.5% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2011 | +1.7% | — | — | |
| Q2 2012 | -3.5% | — | — | |
| Q4 2009 | -0.5% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q1 2012 | -1.7% | — | — | |
| Q3 2011 | +3.7% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q3 2010 | -2.7% | — | — | |
| Q2 2010 | -1.6% | — | — | |
| Q1 2010 | -0.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro