Uni-Fuels Holdings recorded a net loss of $376,087 for the first quarter of 2026, compared with net income of $83,513 in Q1 2025. The company attributed the swing to corporate communication expenses incurred during the period. Loss from operations stood at $231,798, against income from operations of $143,385 a year earlier.

The net loss was posted despite the firm achieving a 64% year-on-year increase in revenue for Q1 2026, reaching $83.2m.

As a result of the revenue jump, the Singapore-headquartered marine fuel trader and broker, which was established in 2021 and operates across hubs including Singapore, Seoul, Dubai, Shanghai, Limassol and Bangkok, has raised its full-year revenue guidance to a range of $320m–$340m, up from a prior range of $310m–$330m.

Marine fuel volumes rose 58% year-on-year to more than 140,000 tonnes in the three months ended 31 March 2026, driven by increased commercial activities and customer engagements across key markets.

Gross profit for the quarter increased 85% year-on-year to $1.8m, with gross profit margin improving to 2.2% from 1.9% in the same period of 2025.

Koh Kuan Hua, Chief Executive Officer of Uni-Fuels, commented: "We are encouraged by a promising start to 2026, which reflects the continued execution of our growth strategy. During the quarter, we delivered year-on-year growth in revenue and marine fuel volumes, and improved gross margins. Operational performance remained strong, although quarterly results were impacted by a net loss primarily attributable to corporate communication expenses incurred during the period."

He added: "We remain focused on building on this momentum through disciplined execution of our growth initiatives, driving consistent performance, and improving returns on capital. Based on our strong first quarter performance and improving commercial visibility, we are pleased to raise our full-year 2026 revenue outlook to $320m–$340m."

The upward revision to full-year guidance reflects what the company describes as improved visibility on commercial activities following the Q1 performance.