International Container Terminal Services, Inc. (ICTSI) has reported higher earnings for the first quarter of 2026, supported by new terminal contributions and growth across several key financial measures.
The terminal operator handled 4.08 million TEUs in the three months to 31 March 2026, up 18 per cent from 3.47 million TEUs in the same period last year.
Revenue from port operations rose 29 per cent to $961.11 million, compared with $745.42 million in Q1 2025.
EBITDA increased 26 per cent to $617.87 million, while net income attributable to equity holders reached $293.57 million, up 23 per cent from $239.54 million a year earlier.
Excluding a non-recurring charge linked to the sale of Yantai International Container Terminal in Shandong Province, China, net income attributable to equity holders would have increased 29 per cent to $308.27 million.
Diluted earnings per share rose 23 per cent to $0.143 from $0.116 in the first quarter of 2025.
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Volume growth was mainly attributed to the addition of Durban Gateway Terminal in South Africa, which took over operations at DCT Pier 2 in the Port of Durban in January 2026, and Batu Ampar Container Terminal in Batam, Indonesia, which began contributing following its takeover in September 2025.
ICTSI said volumes were also supported by improved trade activity in Asia and the Americas, partly offset by lower volumes in EMEA. Excluding the contribution from the two new terminals, consolidated volume would have risen by 1 per cent.
Enrique K. Razon Jr., ICTSI Chairman and President, said: “ICTSI delivered a robust start to 2026, with double-digit growth in revenues, EBITDA and net income reflecting the strength of our diversified global portfolio and disciplined execution across our operations.
“The contribution from newly added terminals, alongside stable demand at our existing facilities, supported volume and earnings growth for the quarter.
“Our focus on operational efficiency, prudent cost management and careful capital allocation continues to underpin the resilience of our business. As we progress with strategic expansions across our network, we remain committed to maintaining financial discipline and executing our long-term strategy to deliver sustainable value for our shareholders. I would like to thank our employees across our global operations for their continued dedication.”
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Cash operating expenses rose 40 per cent to $261.81 million, mainly due to the new operations, higher volume and revenue-related costs, salary adjustments and foreign exchange effects. Excluding new operations, cash operating expenses would have increased 16 per cent.
Capital expenditure, excluding capitalised borrowing costs, reached $117.94 million for the quarter.
For more information:
International Container Terminal Services Inc. – https://www.ictsi.com/
