CBL International Ltd. reported a consolidated revenue of $592.52 million for the year ended December 31, 2024, reflecting a 35.9% increase from $435.90 million in 2023. This growth was largely driven by a 38.1% increase in sales volume. The company attributed this increase to the addition of new customers, an expanded supply network covering more ports, and a broadened customer base including bulk carriers and oil and gas tankers alongside container liner operators. CBL International Ltd. remains focused on expanding its market presence, particularly in the biofuels sector, and enhancing its global supply network. The company is committed to improving operational efficiency and achieving sustainable growth. It plans to continue its strategic expansion of ports and diversification of its client base, aiming to secure long-term partnerships that will strengthen its market position as global trade stabilizes. Additionally, the company has announced a share repurchase program of up to $5 million or 5 million ordinary shares, highlighting the Board's confidence in CBL's long-term growth potential. The program, which is not obligatory, will expire on April 15, 2028, and can be extended, modified, suspended, or discontinued at the company's discretion.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.