Cool Company Q1 Revenue Hits $85.5 Million
Q1 2025 adjusted EBITDA reached $53.4 million.
Cool Company Ltd. (NYSE:CLCO) reported Q1 2025 results on May 21, 2025, highlighted by stable fleet employment, robust contracted backlog, and disciplined execution despite continued spot market weakness. Revenues marginally increased versus Q4 2024, offset by temporary voyage and repositioning costs, while the company executed critical fleet drydocks and in April and May repurchased 1.3% of its shares at a discount to NAV. Select insights below address strategic backlog strength, imminent LNG macro catalysts, and disciplined capital allocation as competitive moats.
With 83% of 2025 vessel days covered and an average firm and floating backlog TCE (time charter equivalent) of $78,000/day as of March 31, revenue visibility contrasts sharply with volatile spot market rates and recent repositioning expenses. The company's 59 vessel-years of contracted backlog as of March 31 includes both fixed and upside-sharing charter arrangements, positioning it to capture recovery without overexposing to market troughs.
This high forward coverage shields near-term earnings and cash flow from near-cycle volatility, supporting a stable operating base while granting the flexibility to add upside exposure as market fundamentals improve.
