Stolt-Nielsen GAAP EPS of $1.87, revenue of $741.15M beats by $28.78M

Stolt-Nielsen press release (OTCPK:SOIEF): Q2 GAAP EPS of $1.87.
Revenue of $741.15M (+2.7% Y/Y) beats by $28.78M.
The STJS average time-charter equivalent revenue was $32,862 per operating day, up 6.4% from $30,880.
Stolt-Nielsen Limited consolidated EBITDA1 of $207.9 million, up from $82.5 million.
At Stolt Tank Containers, shipment volumes continued to increase to a record 41,781 shipments during the second quarter – an increase of 17% from the same quarter last year.
Outlook: The company has seen some more new building orders during the quarter for delivery in 2027 onwards, bringing the total order book for chemical ships up to about 12%. However, during the same period, recycling of older ships will limit any negative impact from the new building orders on the supply and demand balance. The continued tight market and firm freight rates will be reflected in the third-quarter results, when we expect the average TCE earnings to increase by 2-4%.
Stolt Tank Containers’ strong volume drive during the first half of 2024 resulted in volume growth of almost 20% on the back of a fleet growth of 6% compared to the first half of 2023.