Dampskibsselskabet Norden A/S
F:D69
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Dampskibsselskabet Norden A/S
F:D69
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Earnings Calls
Last Earnings Call
Strong quarter: NORDEN reported net profit of $101 million in Q2, with both tanker and dry cargo improving versus earlier periods.
Guidance raised: Full-year net profit guidance was narrowed and lifted at the bottom end to $140 million to $190 million, after strong Q2 performance and a solid summer.
Tanker boost: Tankers earned $81 million in Q2, helped by a very strong spot market tied to geopolitical disruption and uncertainty.
Dry cargo turnaround: Dry cargo EBIT improved to $8 million from a loss of $45 million in Q1, helped by fleet repositioning, though the business still faced extra costs from ships stuck in the Persian Gulf.
Capital return: NORDEN continued to return cash with $34 million distributed in the quarter, split between a DKK 2 per share dividend and a $25 million buyback.
Strategy focus: Management said the company is working to reduce earnings volatility by deepening customer relationships and shifting toward more specialized cargoes and vessel types.