Stolt-Nielsen Limited Reports Unaudited Results for The First Quarter Of 2024

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Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the first quarter ending February 29, 2024. The Company reported a first-quarter net profit of $104.0 million with revenue of $707.3 million, compared with a net profit of $99.8 million with revenue of $708.7 million in the first quarter of 2023, according to an article published on their website.

Highlights for the first quarter of 2024, compared with the first quarter of 2023, were:

  • Stolt-Nielsen Limited (SNL) consolidated EBITDA1 of $207.2 million, down from $215.6 million.
  • Earnings per share in the first quarter was $1.94, up from $1.86.
  • Stolt Tankers reported operating profit of $93.0 million, up from $87.1 million.
  • The STJS average time-charter equivalent (TCE) revenue for the quarter was $29,944 per operating day, up 3.0% from $29,066.
  • Stolthaven Terminals reported operating profit of $28.5 million, up from $25.1 million.
  • Stolt Tank Containers reported operating profit of $13.3 million, down from $39.3 million.
  • Stolt Sea Farm reported an operating profit before fair value adjustment of biomass of $6.9 million, up from $5.7 million.
  • Stolt-Nielsen Gas reported an operating loss of $2.0 million, compared to a loss of $3.4 million.
  • Corporate and Other reported an operating cost of $10.7 million compared to a cost of $9.2 million reflecting profit sharing accruals and other non-divisional expenses.

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Source: Stoit Neilson