On Thursday, August 6, 2026, OceanPact (OPCT3) reported net income of R$ 56 million in the second quarter of 2026 (2Q26). In the period, consolidated net revenue totaled R$ 736 million and consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 256 million, with a 37% margin.
Compared to the second quarter of 2025 (2Q25), the company reported growth of 45% in consolidated net revenue and 84% in consolidated adjusted EBITDA. The average net daily rate of the vessels reached R$ 225,000 in the quarter, up 27% versus 2Q25, with an occupancy rate of 76% influenced by mobilizations and the start of the RSV and AHTS vessel contracts.
In the Vessels segment, net revenue rose 27% in 2Q26 versus 2Q25, while adjusted EBITDA grew 84% and the EBITDA margin ex-partnerships went from 26% to 42%, supported by new High Spec vessel contracts. In Services, net revenue increased 88% in the same comparison, reaching R$ 396 million, and adjusted EBITDA rose 84%, to R$ 105 million, driven by SUBSEA & GEO projects, including decommissioning and mooring inspection.
Costs, excluding depreciation, totaled R$ 414 million in 2Q26, up 31% year over year, reflecting, according to the company, the growth of operations, especially in the Services area. Consolidated capex was R$ 198 million in the quarter, an increase of 116% over 2Q25, directed mainly to completing vessel upgrades for new contracts. General and administrative expenses (G&A) reached R$ 66 million, equivalent to 9% of net revenue ex-partnerships.
OceanPact also reported that net debt to EBITDA, calculated according to the debenture covenant, fell from 2.06x in the first quarter of 2026 to 1.91x in 2Q26. The contract backlog totaled R$ 6.5 billion in June 2026, supported by the signing of R$ 550 million in new contracts in the quarter, of which R$ 517 million in Services and R$ 33 million in Vessels.
Regarding capital structure and corporate transactions, the company announced the acquisition of the Dock Brasil shipyard, in Guanabara Bay, for a base price of R$ 119.2 million, debt- and cash-free, with R$ 5 million held back for up to five years to cover potential contingencies and closing expected by the end of August 2026. The company also highlighted the approval, at the May 6 shareholders’ meeting, of the business combination with CBO, as well as the decision by CADE’s General Superintendence on July 27, 2026, to approve the transaction without restrictions, starting a 15-day period for potential appeals or review by the agency’s Tribunal.
