TORM posts $199 million Q3 profit amid strong performance
Key points
- TORM reported third-quarter 2026 net profit of $199 million, up from $78 million a year earlier, while earnings per share increased to $1.94.
- Time charter equivalent earnings rose to $353 million, while EBITDA increased to $274 million and the quarterly dividend reached $1.35 per share.
- TORM raised its 2026 shipping earnings forecast to $1.75 billion–$1.90 billion and expanded its fleet investment plans through new tanker orders.
TORM (NASDAQ:TRMD) reported third-quarter 2026 net profit of $199 million, up from $78 million, as tanker shipping earnings increased.
Basic earnings per share rose to $1.94 from $0.79, while time charter equivalent earnings increased to $353 million from $236 million.
EBITDA rose to $274 million from $152 million, while TORM increased its quarterly dividend to $1.35 per share, payable December 2.
TORM raised its full-year shipping earnings forecast to $1.75 billion–$1.90 billion and EBITDA guidance to $1.35 billion–$1.50 billion.
The company exercised options for two additional medium-range tankers and agreed to eight long-range tankers through a 50/50 joint venture.
By October 28, TORM had fixed 88% of its 2026 earning days, leaving 4,060 days exposed to changing freight rates.
