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Ocean Network Express lifts FY2026 profit outlook to $900 million
ONE reported Q1 FY2026 revenue of $4.539 billion and said higher bunker fuel costs, tied to the Iran war and Middle East disruptions, weighed on net profit.
Ocean Network Express raised its full-year profit forecast to $900 million from prior guidance of $300 million, after posting a strong Q1 FY2026 performance.
Yahoo Finance reported that ONE earned Q1 FY2026 revenue of US$4.539 billion and net profit of $31 million. The April to June period included revenue of $4.54 billion, up from $4.05 billion a year earlier, with EBITDA rising to $707 million from $616 million as the EBITDA margin improved to 15.6% from 15.2%.
The company said higher fuel costs undercut results, with net profit falling from $86 million to $31 million. It cited bunker prices averaging $666 per ton, up from $535 a year ago, and noted that Middle East disruptions linked to the Iran war increased costs.
ONE also reported container volumes of 3.257 million TEUs and an average freight rate of $1,300 per TEU, higher than $1,199 a year earlier. Yahoo Finance added that ONE credited improved yields and maintained high vessel utilization, while pointing to continued geopolitical uncertainty.