Torm A/S (TRMD)
NASDAQ:TRMD
Earnings Data
Report Date
Aug 26, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.3Last Year’s EPS
0.6Same Quarter Last Year
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational and financial results, with record-high near-term rate coverage, upgraded full-year guidance, rising broker valuations and continued disciplined fleet renewal — all supported by a conservative balance sheet. These positives are tempered by significant geopolitical disruptions (Strait of Hormuz closure), reduced global trade volumes, vessel dislocations, sanction-driven effective capacity loss and a USD ~30 million working capital build that reduced the reported payout ratio. Management positions the company as well placed to benefit from a structural market reset but acknowledges material uncertainty and volatility risks.Company Guidance
Strong Q1 Financial Performance
TCE of USD 286 million in Q1 2026, EBITDA of USD 201 million and net profit of USD 122 million (EPS USD 1.21), representing a marked improvement versus the same quarter last year and the strongest quarterly result since Q2 2024.
High Daily Earnings and Segment Strength
Fleet-wide average TCE of USD 34,937/day; LR2 earnings > USD 41,000/day, LR1 ~ USD 35,000/day and MR just under USD 33,000/day — materially higher than year-ago freight levels.
Upgraded Full-Year Guidance
Full-year guidance raised to TCE USD 1.15 billion–USD 1.45 billion (previously USD 850m–USD 1.25b) and EBITDA to USD 800 million–USD 1.1 billion (previously USD 500m–USD 900m), reflecting strong start to 2026 and high near-term visibility.
Strong Q2 Coverage at Elevated Rates
57% of Q2 earning days already secured at a fleet-wide average TCE of USD 71,494/day, with Q2 average bookings to date above USD 70,000/day across vessel sizes — providing substantial near-term earnings visibility.
Asset Values and NAV Improvement
Broker valuations for the fleet at USD 3.6 billion and net asset value increased to USD 3.1 billion; average broker valuations rose 9.7% during Q1, with strong appreciation in LR2 and LR1 segments.
Balance Sheet Strength and Low Leverage
Net interest-bearing debt of USD 894 million and net loan-to-value ratio of 25.1%; debt maturities well-distributed beyond USD 287 million maturing in the next 12 months, preserving financial flexibility.
Active, Disciplined Fleet Renewal
Fleet of 95 vessels at quarter end; committed acquisition of 6 MR resales (4 delivering in 2027, 2 in 2028) will increase fleet to 103 vessels on a fully delivered basis — focus on younger tonnage and preserving age profile.
Capital Return and Dividend
Board declared a dividend of USD 0.70 per share with a payout ratio of 58% (would have been ~80%–85% absent a USD ~30 million net working capital build), demonstrating a capital return framework balanced with liquidity considerations.
Operational Resilience and Safety
Safety-first operations with only 1 vessel inside the Persian Gulf at quarter end; crew reported in good condition and provisions secure despite regional disruptions.
Competitive 'One TORM' Advantage
Management reports a multi-year operating advantage: MR fleet generated approximately USD 200 million more TCE than peer average over a 3-year period due to higher utilization, disciplined cost control and centralized management platform.
TRMD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TRMD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 13, 2026 | $34.57 | $32.64 | -5.58% |
Feb 26, 2026 | $27.03 | $28.43 | +5.19% |
Nov 06, 2025 | $20.25 | $21.16 | +4.49% |
Aug 14, 2025 | $17.73 | $19.06 | +7.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Torm A/S (TRMD) report earnings?
Torm A/S (TRMD) is schdueled to report earning on Aug 26, 2026, TBA (Confirmed).
What is Torm A/S (TRMD) earnings time?
Torm A/S (TRMD) earnings time is at Aug 26, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TRMD EPS forecast?
TRMD EPS forecast for the fiscal quarter 2026 (Q2) is 3.3.