ICTSI stock: Nine-month profit climbs 20% to $898.89 million

International Container Terminal Services Inc. reported a 20 percent increase in net income attributable to equity holders to 898.89 million US dollars for the first nine months of 2026. The Manila Times reported the result on November 12, citing the company's financial report.

Port operations revenue rose 24 percent to 2.9 billion US dollars from 2.34 billion US dollars a year earlier. EBITDA increased 21 percent to 1.87 billion US dollars, while diluted earnings per share advanced 21 percent to 0.442 US dollars from 0.365 US dollars. The Manila Times said higher port revenue and container volumes supported the result.

New terminals drive volume growth

ICTSI handled 12.11 million twenty-foot equivalent units from January through September, 13 percent more than in the same period of 2025. Durban Gateway Terminal in South Africa and Batu Ampar Container Terminal in Indonesia supplied much of the increase, while weaker activity at some terminals in Europe, the Middle East and Africa partly offset the gains.

Excluding the two new terminals and the discontinued Yantai operation in China, consolidated throughput would have increased by only 0.1 percent. Cash operating expenses rose 37 percent to 801.4 million US dollars, reflecting the added operations, higher volume-related costs, fuel prices, salary adjustments and unfavorable foreign-exchange movements.

Expansion remains the next catalyst

ICTSI's EBITDA margin narrowed to 64 percent from 66 percent as the company integrated the new terminals. Management expects full-year capital expenditure of 740 million US dollars, supporting terminal expansions in Mexico, the Philippines, Brazil and the Democratic Republic of the Congo, as well as equipment upgrades and maintenance.

Independent global terminal operator

ICTSI develops, manages and operates gateway container terminals across six continents. Its network serves origin and destination markets, with port operations and terminal services at the center of its business. ICTSI describes itself as one of the world's largest independent terminal operators and is headquartered in the Philippines.

Broader Philippine market developments are covered in Current market reports.

More news and analyses on ICTSI stock.