Global Ship Lease Reports Results for the First Quarter of 2026

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[{"type":"text","content":"Global Ship Lease Reports Results for the First Quarter of 2026\nForward contract cover locked in for 100% of 2026 and 86% of 2027 Annualized dividend of $2.50 per Class A Common ShareOpportunistic monetization of selected non-core assets ATHENS, Greece, May 22, 2026 (GLOBE NEWSWIRE) -- Global Ship Lease, Inc. (NYSE: GSL) (the “Company”, “Global Ship Lease” or “GSL”), an owner of containerships, announced today its unaudited results for the three months ended March 31, 2026. First Quarter Highlights and Other Recent Developments - 1Q 2026 operating revenue of $198.1 million. - 1Q 2026 net income available to common shareholders of $91.4 million, or $2.54 earnings per share (EPS). - 1Q 2026 normalized net income (a non-U.S. GAAP financial measure, described below)3 of $92.1 million, or $2.56 normalized EPS³. - 1Q 2026 Adjusted EBITDA (a non-U.S. GAAP financial measure, described below)3 of $133.2 million. - Added $86.1 million of contracted revenues during first quarter of 2026, bringing total contracted revenues as of March 31, 2026 to $2.05 billion, over a weighted average remaining duration of 2.6 years. - On May 11, 2026, declared a dividend of $0.625 per Class A common share for the first quarter of 2026, to be paid on June 3, 2026 to Class A common shareholders of record as of May 22, 2026. Paid a dividend of $0.625 per Class A common share for the fourth quarter of 2025 on March 6, 2026. - During April and May of 2026, entered into agreements for the forward sales of three non-core ships, built 2000 – 2002, for an aggregate price of $52.0 million and anticipated gain on sale of approximately $25.0 million. The ships are scheduled to be delivered to buyers upon expiry of the vessels’ respective charters: Manet (2,200 TEU, 2001-built) and Kumasi (2,200 TEU, 2002-built) in 4Q 2026 – 1Q 2027, and Ian H (5,900 TEU, 2000-built) in 4Q 2027. - On December 1, 2025, announced the purchase of three 8,586 TEU Korean-built containerships with ECO upgrades (the “Three Newly Acquired Vessels”) for an aggregate purchase price of $90.0 million. The Three Newly Acquired Vessels have attached charters with a leading liner company. Two of the vessels were delivered to us in December 2025 and the third was delivered to us in January 2026. George Youroukos, o...

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