August 17, 2026
Kingston Wharves Limited (KW)
Unaudited financials for the six months ended June 30, 2026:
Kingston Wharves Limited (KW) for the six months ended June 30, 2026 reported a 6% increase in Revenue totalling $6.33 billion compared to $6.00 billion in the corresponding period last year. Revenue for the second quarter declined by 5% to $3.01 billion compared to $3.18 billion for the comparable quarter of 2025. Management noted that the reduction in quarterly performance reflected weaker cargo volumes, influenced by short-term repositioning and reorganisation of global transshipment services.
Cost of Sales amounted to $3.95 billion (2025: $3.28 billion), representing an increase of 20% year over year. Consequently, Gross Profit decreased by 12% to $2.38 billion compared to $2.71 billion for the six months ended June 30, 2025. Gross Profit for the second quarter amounted to $1.03 billion, compared to $1.49 billion reported for the corresponding quarter of 2025.
Other Operating Income decreased by 70% to $135.30 million from $448.41 million in 2025, while Administrative Expenses decreased by 5% to $1.01 billion from $1.06 billion in the prior year. As a result, Operating Profit for the six months ended June 30, 2026 amounted to $1.51 billion, representing a 28% decrease relative to $2.10 billion reported in 2025. For the second quarter, Operating Profit declined by 44% to $633.52 million compared to $1.13 billion in the corresponding quarter of 2025.
Finance Costs increased by 43% to $221.02 million compared to $154.44 million in the prior year. Management noted that the increase in interest costs was associated with strategic infrastructure-related borrowings. The company also reported Share of Results of Associate of $38.16 million, compared to nil in the prior year, following KWL’s acquisition of a 27% interest in Cargo Handlers Limited.
Profit Before Taxation for the six months ended June 30, 2026 amounted to $1.32 billion, representing a 32% decrease from $1.94 billion reported in 2025. For the second quarter, Profit Before Taxation decreased by 48% to $546.08 million compared to $1.06 billion in the corresponding quarter of 2025.
Taxation increased by 27% to $282.69 million compared to $222.20 million in 2025. Consequently, Net Profit for the Period amounted to $1.04 billion, representing a 39% decrease from $1.72 billion in the prior year. For the second quarter, Net Profit amounted to $433.46 million, compared to $922.05 million in the corresponding quarter of 2025.
Net Profit Attributable to Equity Holders of the Company amounted to $1.00 billion, representing a 40% decrease from $1.66 billion in 2025. For the second quarter, Net Profit Attributable to Equity Holders of the Company declined by 54% to $411.76 million compared to $899.25 million in the prior year’s quarter.
Total Comprehensive Income for the six months amounted to $557.69 million compared to $1.72 billion in 2025. The decline reflected the impact of other comprehensive losses relating to the de-recognition of revaluation surplus on property, plant and equipment. Total Comprehensive Income Attributable to Equity Holders of the Company amounted to $519.29 million, compared to $1.66 billion in the prior year.
Consequently, Earnings Per Stock Unit for the six months amounted to $0.70 compared to $1.16 in 2025. Earnings Per Stock Unit for the second quarter amounted to $0.29 compared to $0.63 for the corresponding quarter of 2025. The twelve-month trailing EPS was $1.96, and the number of shares used in these calculations was 1,430,199,578.
Notably, KW’s stock price closed the trading period on August 14, 2026, at a price of $33.77 with a corresponding P/E ratio of 17.22x.
Balance Sheet Highlights
The company’s Total Assets amounted to $65.50 billion at June 30, 2026, representing a 7% increase from $61.14 billion in 2025. The increase was mainly driven by Property, Plant and Equipment, which rose to $46.11 billion from $43.84 billion, as well as the recognition of Investment in Associate of $1.03 billion, compared to nil in the prior year. Short-Term Investments also increased to $11.34 billion from $10.80 billion, while Inventories rose to $837.68 million from $646.57 million.
Stockholders’ Equity increased to $52.06 billion from $48.72 billion in 2025, representing a book value per share of approximately $36.40 compared to $34.07 in the prior year.
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