Höegh Autoliners posted first-quarter gross revenue of $360 million, EBITDA of $145 million and net profit after tax of $103 million, while warning that higher fuel prices could cut about $20 million from second-quarter earnings before bunker adjustment factor recovery, according to Höegh Autoliners.
The Oslo-based car carrier said disruption in the Middle East in March led to vessel delays, repositioning and higher fuel costs.
It said second-quarter EBITDA, adjusted for the expected fuel-price timing effect and an estimated $10 million impact from Middle East service disruption, was expected to be in line with to slightly below first-quarter 2026 levels.
Chief executive Andreas Enger said: “We delivered stable underlying performance in Q1 despite a challenging geopolitical backdrop. Developments in the Middle East continue to disrupt shipping routes and fuel markets, increasing costs and operational complexity.” He added that the company believed it was “well positioned to navigate ongoing uncertainty” with improved operational control entering the second quarter.
Höegh Autoliners also said China increased vehicle exports by 57% year on year in the first quarter, supporting demand for ocean transportation.
The company declared a quarterly dividend of $94 million, equal to $0.4927 per share, payable in May 2026. Its eighth Aurora Class vessel, Höegh Rainbow, was delivered in January 2026.
The year-on-year comparison showed weaker earnings. In the first quarter of 2025, Höegh Autoliners posted gross revenue of $329 million, EBITDA of $155 million and net profit after tax of $155 million.
A separate April 2026 trading update issued the same day showed the company carried 1.3 million cbm of cargo on a prorated basis in April, with a prorated gross freight rate of $91.8 per cbm and a prorated net freight rate of $78.8 per cbm. Enger said April developed in line with expectations despite continued operational disruption related to the Middle East.
Höegh Autoliners ASA is a Norwegian /roll-off shipping company headquartered in Oslo. The company operates around 40 RoRo vessels in global trade systems, makes more than 2,000 port calls a year and transports about 1.6 million car equivalent units annually. In addition to vehicles, it carries high-and-heavy and breakbulk cargo.
