TORM (One-pager): Strong quarterly dividends continue as guidance is further narrowed to the top-end
Read the latest TORM One-pager update following the Q2 2024 results. The One-pager includes a brief description of TORM, an update to the product tanker market, latest financials, valuation perspectives relative to a peer group, and outlines several key investment risks and key investment reasons.
In Q2 2024, TORM continued experiencing strong product tanker markets as demand vessel utilisation remained strong. As a result, TORM continued returning value to shareholders via dividends, declaring USD 1.80 per share for the quarter, with a 4.8% dividend yield at the time of the Q2 2024 report. TORM also further narrowed its guidance towards the upper end, now expecting TCE income of USDm 1,150-1,350 (previously USDm 1,100-1,350) and EBITDA of USDm 850-1,050 (previously USDm 800-1,050).
To learn more about TORM and its outlook for the remainder of 2024 and beyond, catch up on the latest Q2 2024 earnings presentation with TORM CFO Kim Balle.
Link: https://www.inderes.dk/analyst-comments/torm-video-med-praesentation-af-regnskabet-for-2-kvartal-2024
Disclaimer: HC Andersen Capital receives payment from TORM for a DigitalIR/corporate visibility subscription agreement. / Philip Coombes 16:45 22.08.2024
Torm
TORM is a leading international owner and operator of product tankers, transporting refined oil products. TORM is listed on Nasdaq Copenhagen and on the Nasdaq US, with a wholly owned fleet of approx. 90 vessels (mostly scrubber-fitted), spanning all large product tanker vessel segments with a focus on LR2, LR1, and MR. TORM has a majority shareholder in Oaktree Capital Management (55%). TORM engages in vessel trading to ensure fleet renewal and pursue secondary market opportunities that are accretive to NAV.
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