The International Container Terminal Services Inc. (ICTSI) reported a 23 percent increase in net income for the first quarter of 2026, driven by higher operating income and stronger port activity.
The company said its net income reached $293.57 million from January to March, up from $239.54 million in the same period last year.
ICTSI chairman and president Enrique K. Razon Jr. said the company had a strong start to the year, with double-digit growth in revenue, earnings, and net income. He attributed this to steady performance across its global operations and contributions from newly added terminals.
Revenue from port operations rose 29 percent to $961.11 million, compared to $745.42 million a year earlier.
The company handled 4.08 million twenty-foot equivalent units (TEUs) in the first quarter, an 18 percent increase from 3.47 million TEUs in 2025. Growth was largely driven by new terminals in South Africa and Indonesia, as well as improved trade activity in Asia and the Americas. This was partly offset by lower volumes in Europe, the Middle East, and Africa.
Without the new terminals, volume growth would have been at 1 percent.
ICTSI spent $117.94 million in capital expenditures during the quarter. It has set a $740 million capital spending plan for 2026, mainly for port expansions in Mexico, the Philippines, Brazil, and the Democratic Republic of Congo, as well as upgrades and new projects in Honduras, Australia, and Ecuador.
