Shares of Tsakos Energy Navigation Limited (TEN) are soaring 9.05% in intraday trading on Tuesday following the release of its impressive first-quarter 2025 financial results, coupled with a dividend announcement and a significant new contract win. The Greek oil tanker company has delivered a trifecta of positive news, driving investor enthusiasm and pushing the stock to new heights.

TEN reported first-quarter earnings per share (EPS) of $1.04, substantially surpassing analysts' expectations of $0.48. Despite a slight dip in voyage revenues to $197.1 million from $201.6 million in the same period last year, the company maintained strong profitability with a net income of $38.9 million. In a move that further pleased shareholders, TEN declared its first semi-annual common share dividend of $0.60, signaling confidence in its financial stability and commitment to returning value to investors.

Adding to the positive momentum, TEN announced a major business development that has significantly bolstered its future revenue prospects. The company has been awarded a contract by Brazil's Transpetro/Petrobras to build nine DP2 Shuttle Tankers, which are expected to generate minimum revenues of $2 billion over their long-term employment. This new agreement has boosted TEN's total fleet contracted revenue backlog to approximately $3.7 billion, providing investors with strong confidence in the company's future earnings potential. The combination of strong quarterly results, the dividend announcement, and the lucrative new contract has created a perfect storm for TEN's stock, reflecting investors' optimism about the company's financial health and growth trajectory in the competitive energy shipping market.