Q4 2025 DHT Holdings Inc Earnings Call Transcript
Key Points
- DHT Holdings Inc (DHT) reported a strong balance sheet with low leverage and significant liquidity, ending the fourth quarter with $258 million in total liquidity.
- The company achieved revenues on a TCE basis of $85.5 million and an EBITDA of $60.6 million for the fourth quarter.
- DHT Holdings Inc (DHT) declared a dividend of $0.17 per share for the fourth quarter, marking its 60th consecutive quarterly cash dividend.
- The company successfully repurchased 1.5 million shares at an average price of $8.89, which was accretive to earnings per share and net asset value.
- DHT Holdings Inc (DHT) secured a one-year time charter for DHT China at $40,000 per day, indicating strong demand for its vessels.
- Net income for the fourth quarter was adjusted to $26.8 million, equal to $0.17 per share, after accounting for a non-cash reversal of prior impairment charges.
- Vessel operating expenses for the quarter were $20 million, which included a non-recurring insurance deductible.
- The average TCE for spot vessels was $38,200 per day, which is lower than the earnings for vessels under 15 years of age.
- The company faces challenges in selling older ships due to potential counterparty issues and market conditions.
- DHT Holdings Inc (DHT) noted that liquidity in the market for buying and selling ships is thin, making it difficult to find good investment opportunities.
Thank you. Good morning and good afternoon, everyone. Welcome, and thank you for joining DHT Holdings' fourth-quarter 2024 earnings call. I'm joined by DHT's President and CEO, Svein Moxnes Harfjeld. as usual, we will go through financials and some highlights before we open up for your questions. The link to the slide deck can be found on our website, dhtankers.com.
Before we get started with today's call, I would like to make the following remarks. A replay of this conference call will be available on our website, dhtankers.com, until February 13. In addition, our earnings press release will be available on our website and on the SEC EDGAR system as an exhibit to our Form 6-K.
As a reminder, on this conference call, we will discuss matters that are forward-looking in nature. These forward-looking statements are based on our current expectations about future events as detailed in our financial report. Actual results may differ materially from the expectations reflected in these forward-looking statements. We urge you to read
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