Q1 2026 Torm PLC Earnings Call Transcript

May 13, 2026 / 02:00 PM GMT

Release Date Price: $32.64 (-5.58%)

Transcript

Key Points

Positve

TORM PLC (TRMD) reported a strong first quarter with TCE revenue of $286 million, significantly higher than the same quarter last year.
The company increased its full-year guidance to USD1.15 billion to USD1.45 billion, reflecting confidence in sustaining profitable growth.
TORM PLC (TRMD) continued active fleet renewal, adding younger second-hand vessels and committing further acquisitions while divesting older tonnage.
The company maintained a conservative capital structure with a net loan-to-value ratio of 25.1%, providing financial flexibility.
TORM PLC (TRMD) has secured 57% of its earning days in Q2 at a fleet-wide average of TCE USD71,494 per day, providing high near-term earnings visibility.

Negative

The closure of the Strait of Hormuz caused significant vessel dislocation, impacting global energy flows and creating market inefficiencies.
The company's dividend payout ratio was lower at 58% due to a net working capital increase, compared to the usual 80% to 85%.
Geopolitical uncertainties, such as the U.S.-Israel-Iran war, continue to present challenges and market volatility.
The market impact of the closure of the Strait of Hormuz remains uncertain, affecting trade routes and cargo flows.
The migration of LR2 vessels into crude trading has reduced effective CPP trading fleet capacity, impacting market dynamics.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TRMDa.CO - Torm PLC
Q1 2026 Torm PLC Earnings Call
May 13, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is Angela and I will be your conference operator today. At this time, I would like to welcome everyone to the first quarter 2026 conference call.

All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during that time, simply press followed by the number one on your telephone keypad. If you would like to withdraw your question, press one again.

Thank you.

I would now like to turn the call over to Mr. Jacob Milgard, CEO. You may begin.

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Unidentified_2 [2]
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