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TORM posts $338 million net profit in Q2
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TORM posts $338 million net profit in Q2

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  • TORM (NASDAQ:TRMD) recorded a net profit of $338 million in the second quarter of 2026.
  • The company announced a $2.40 per share interim dividend totaling $246 million and raised its full-year earnings guidance.
  • Management stated that shipping disruptions around the Strait of Hormuz drove average freight rates to $59,301 per day.

TORM (NASDAQ:TRMD) reported a $338 million Q2 net profit as Strait of Hormuz disruptions elevated freight rates.

Time charter equivalent earnings reached $512 million, representing a substantial increase from $208 million last year.

The company expanded its active fleet to 97 vessels and committed to additional newbuildings through 2029.

Elsewhere, the company's board approved a $2.40 per share interim dividend totaling $246 million for payment on September 24.

Following the announcement, TORM's share price was unchanged at $36.50.

Management stated that full-year time charter equivalent earnings are expected to range between $1.4 billion and $1.6 billion.

The company also forecast full-year earnings before interest, taxes, depreciation, and amortization between $1 billion and $1.2 billion.

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