Prosafe raises 2026 guidance after Q2 revenue gains

Norway-based offshore accommodation vessel operator Prosafe reported improved second-quarter revenue and EBITDA figures on Friday. The company's revenue reached $46.50 million, while EBITDA amounted to $9.70 million, both showing an upward trend compared to the same period last year. Prosafe has increased its full-year 2026 EBITDA guidance to a range of $50 million to $55 million, up from the previous range.

The company anticipates growth in earnings due to an improved dayrate environment and forthcoming contract roll-offs. The resurgence of fleet utilization can be attributed to two vessels, Safe Zephyrus and Safe Notos, returning to service after completing five-year surveys, which contributed to the revenue and EBITDA increases in the quarter.

Prosafe highlighted that four out of its five vessels generated revenue in the second quarter, resulting in 71% fleet utilization and exhibiting good operating performance. The company attributes its success to favorable global market conditions, particularly in Brazil and Africa, driven by recent and ongoing tenders. These market conditions have positively impacted dayrates and the backlog, according to Prosafe.