Many shipping companies link up with Seeking Alpha (SA). For some companies, SA even offers a preview of the company prior to the results. Clean products tanker company Torm Plc (TRMD) is not one of those. No preview, and sometimes, not even a results announcement. Torm Plc actually reported their Q2 2024 results several weeks ago.
- Rev of $437.7M
- Gross Profit of $264.6M
- Net Profit of $194.2M
- TCE daily $42057
- Declared div of $1.80/sh
There’s a lot of other data in the above link.
- Share count has increased to 94M from around 84.4M (Q2 2023). But that’s primarily been due to Torm Plc using shares as partial payment for fleet additions.
- TRMD have scrubbers on about 80% of their fleet. That’s impressive considering the company has a lot of MR2 vessels (the vessel size means it takes longer to earn a payback on a scrubber installation)
- Factoring in gains from asset sales, the dividend is < 75% of adjusted net profit.
- Good mgmt - managing fleet renewal, debt paydown & dividend payout quite nicely.