Cool Company Ltd. Q1 2025 Results: Total Revenues Slightly Up at $85.5M, Net Income Falls to $9.1M Due to Interest Rate Swaps

Reuters
05-21
Cool Company Ltd. Q1 2025 Results: Total Revenues Slightly Up at $85.5M, Net Income Falls to $9.1M Due to Interest Rate Swaps

Cool Company Ltd. reported its financial results for the first quarter of 2025, showing total operating revenues of $85.5 million, a slight increase from $84.6 million in the fourth quarter of 2024. Net income for Q1 2025 was $9.072 million, a significant decrease from $29.387 million in Q4 2024. This decline in net income was primarily due to unrealized mark-to-market changes on interest rate swaps. The company achieved an average Time Charter Equivalent Earnings ("TCE") of $70,600 per day during Q1 2025, down from $73,900 per day in the previous quarter. This decrease was attributed mainly to increased repositioning expenses for the newbuild vessel _GAIL Sagar_ and another vessel transitioning between spot charters. CoolCo's fleet maintained strong performance with an 88% fleet utilization in Q1 2025, a drop from 92% in Q4 2024. The decrease was impacted by the commercial off-hire period due to repositioning activities. The company remains optimistic about the long-term market, expecting the current newbuild orderbook to be fully absorbed and continue generating attractive time charter opportunities for its modern fleet.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cool Company Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250520493204) on May 21, 2025, and is solely responsible for the information contained therein.

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