Global Ship Lease Reports First Quarter 2026 Financial Results

Global Ship Lease, Inc. announced its unaudited financial results for the first quarter ended March 31, 2026. The company reported operating revenue of $198.1 million and net income available to common shareholders of $91.4 million, or $2.54 per share. Adjusted EBITDA was $133.2 million. The company has secured 100% of its charter coverage for 2026 and 86% for 2027, totaling over $2 billion in contracted revenues. During the quarter, Global Ship Lease added $86.1 million in contracted revenues and declared a dividend of $0.625 per Class A common share. The company also entered into agreements for the forward sales of three non-core ships for $52.0 million. The fleet utilization for Q1 2026 was 98.2%. Vessel operating expenses increased by 5.4% to $52.7 million, and depreciation and amortization rose to $33.5 million. Debt as of March 31, 2026, totaled $657.8 million. The company reported a net income available to common shareholders of $91.4 million for Q1 2026, a decrease from $121.0 million in the prior year period, which included a significant gain from vessel sales.