International Container Terminal Services' (ICTSI) net income for the first nine months of 2025 peaked at US$751.56 million, an increase of 19 per cent compared to the same period last year.
Throughput increased 11 per cent to 10.69 million TEUs while revenues grew 16 per cent to US$2.34 billion and gross operating profit improved by 17 per cent to US$1.54 billion.
Diluted earnings per share (EPS) rose 21 per cent to US$0.365.
"We have delivered growth across all key metrics," said Enrique K Razon Jr, ICTSI Chairman and President. "A 19 per cent increase in net income attributable to equity holders to US$751.56 million, and 21 per cent increase in diluted EPS, reflects our continued focus on prudent financial management and delivering value for our shareholders."
Razon added that ICTSI's diversified portfolio enabled the company to capture opportunities in dynamic markets, with consolidated volume up 11 per cent to 10.69 million TEUs.
"This growth, alongside a 16 per cent increase in revenue from port operations, demonstrates the resilience of our business and operational excellence."
ICTSI said the 19 per cent increase in net income attributable to equity holders was primarily due to higher operating income partially tapered by the income from the settlement of legal claims at ICTSI Oregon in 2024.
Excluding the impact of nonrecurring income and charges; and new operations in Iloilo, Philippines and Batam, Indonesia; and discontinued operations in Jakarta, Indonesia, net income attributable to equity holders would have grown 22 per cent.
For the quarter ended September 30, 2025, revenue from port operations increased 20 per cent from US$691.7 million to US$827.74 million; gross operating profit was 22 per cent higher at US$552.99 million from US$451.51 million in Q3 2024; and net income attributable to equity holders was at US$267.72 million, 26 per cent more than the US$212.03 million in Q3 2024.
Diluted EPS for the third quarter of 2024 and 2025 was at US$0.102 and US$0.130, respectively.
ICTSI said the growth in the volume of handled containers was mainly due to improvement in trade activities across all regions. Excluding the impact of new operations in Iloilo, Philippines and Batam, Indonesia; and the discontinued operations in Jakarta, Indonesia, the group's consolidated volume would still have been up 11 per cent.
For the quarter ended September 30, 2025, total consolidated throughput was 12 per cent higher at 3,698,053 TEUs compared to 3,291,964 TEUs in 2024.
ICTSI said gross revenues from port operations grew 16 per cent in the first nine months of 2025 due to the tariff adjustments, volume growth with favourable container mix, and higher revenues from ancillary services at certain terminals, including growth in general cargo activities, and volume recovery in Guayaquil, Ecuador.
This was partially reduced by unfavourable foreign exchange translation impact mainly from the depreciation of Mexican peso-, and Brazilian real-based revenues. Excluding the impact of new and discontinued operations, the group's consolidated gross revenues would still have increased 16 per cent.