ICTSI starts 2026 strong with 21% jump in Q1 profit

MANILA, Philippines – Global ports giant International Container Terminal Services Inc. (ICTSI) shrugged off mounting geopolitical risks in the first quarter, posting a 21-percent increase in net income to $314.69 million on higher volumes and contributions from new terminals.

In a disclosure on Monday, the Enrique Razon Jr.-led port operator said consolidated revenues climbed 29 percent to $961.11 million from $745.42 million a year earlier, while recurring net income rose 29 percent to $308.27 million.

READ: ictsi-seen-to-withstand-middle-east-war-shock

This was as throughput increased 18 percent to 4.08 million twenty-foot equivalent units, supported by new operations in South Africa and Indonesia, as well as improved trade activity in Asia and the Americas. 

“ICTSI delivered a robust start to 2026, with double-digit growth in revenues, EBITDA and net income reflecting the strength of our diversified global portfolio,” Razon said. 

Revenue growth was also supported by tariff adjustments, higher ancillary service income and favorable foreign exchange movements, the company said. 

ICTSI’s capital expenditures for the first quarter reached $117.94 million.

READ: /ictsi-profit-surged-23-in-2025-on-larger-cargo-volumes

Cash flow, as measured by earnings before interest, taxes, depreciation, and amortization, slipped to 64 percent from 66 percent, a change the company attributed to the impact of new operations. 

“Our focus on operational efficiency, prudent cost management and careful capital allocation continues to underpin the resilience of our business,” Razon said. “As we progress with strategic expansions across our network, we remain committed to maintaining financial discipline and executing our long-term strategy to deliver sustainable value for our shareholders.”