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Jun 30, 2025
Torm PLC Q2 2025 Earnings Report
TORM delivered a solid Q2 2025 performance despite a normalization in freight rates, maintaining profitability and raising full-year guidance.
Key Takeaways
TORM reported Q2 2025 revenue of $315.2M and net income of $58.7M, down year-over-year as freight rates returned to more normalized levels. Despite a 28% revenue drop, the company demonstrated operational strength and upgraded its full-year outlook.
Revenue fell 28% YoY to $315.2M due to normalized freight rates
Net income totaled $58.7M and EPS came in at $0.60
Declared $0.40/share dividend, equivalent to 67% payout ratio
Raised FY2025 EBITDA guidance to $475–625M on stronger H2 outlook
Revenue by Segment
Forward Guidance
TORM increased its FY2025 guidance based on H1 performance and stronger Q3 rate coverage.
Positive Outlook
- TCE guidance raised to $800–950M
- EBITDA guidance raised to $475–625M
- 66% of FY2025 earning days already covered
- Q3 2025 earning days 56% covered at $30,617/day
- Improved capital flexibility with $857M refinancing commitments
Challenges Ahead
- Freight rates remain lower than 2024 highs
- Revenue declined 28% YoY
- Geopolitical instability continues to affect tanker routes
- Cash flow from operations declined YoY
- Gross margin dropped to 46.3% from 60.5% YoY
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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