C3is (NASDAQ:CISS) Posts Earnings Results

C3is (NASDAQ:CISS) posted its quarterly earnings results on Thursday. The company reported ($4.86) earnings per share (EPS) for the quarter, FiscalAI reports. C3is had a return on equity of 0.35% and a net margin of 16.09%.

Here are the key takeaways from C3is’ conference call:

• Net income turned positive — the company reported net income of $10.5 million for 2025 (vs. a $3.0 million loss in 2024) and cash rose to $14.9 million despite paying the $15.1 million Eco Spitfire balance.
• Voyage revenues and TCEs declined — voyage revenues fell 18% to $34.8 million and time-charter-equivalent rates dropped 28%, mainly due to 74 non-revenue/idle days from dry docking the Aframax.
• Balance sheet leverage materially improved — the company says it is fully deleveraged with no bank debt after repaying related-party acquisition balances and has paid all CapEx obligations without bank financing.
• Fleet expansion underway — C3is operates 300 Handysize vessels plus one Aframax and has acquired two product tankers due in 2026, increasing fleet capacity since inception by ~387% and adding unencumbered, non-Chinese-built vessels.
• Reported metrics contain a material discrepancy — management cited EBITDA of $17 million in the CFO remarks but the CEO later referenced EBITDA of $70 million, creating transparency and reporting clarity concerns.

C3is Stock Performance

Shares of CISS traded up $0.47 during trading hours on Thursday, hitting $2.14. 30,863,840 shares of the company were exchanged, compared to its average volume of 5,735,615. The company has a market cap of $2.18 million, a PE ratio of -0.01 and a beta of 1.96. The firm’s 50 day moving average is $3.16 and its 200-day moving average is $31.53. C3is has a 52 week low of $1.35 and a 52 week high of $134.38.

Wall Street Analyst Weigh In

CISS has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of C3is in a research report on Monday, December 29th. Wall Street Zen raised shares of C3is to a “sell” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, C3is currently has an average rating of “Sell”.

Hedge Funds Weigh In On C3is

A number of institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of C3is during the 3rd quarter worth $29,000. Wexford Capital LP lifted its position in C3is by 460.1% during the 3rd quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after acquiring an additional 92,014 shares during the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new position in C3is during the 4th quarter worth $198,000. Institutional investors own 10.54% of the company’s stock.

C3is Company Profile

C3is Inc offers international seaborne transportation services. It provides its services to dry bulk charterers, including national and private industrial users, commodity producers and traders, oil producers, refineries, and commodities traders and producers. The company owns and operates a fleet of two drybulk carriers, which transport major bulks, such as iron ore, coal and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers, and one Aframax crude oil tanker that transports crude oil.