The following is a summary of the DHT Holdings, Inc. (DHT) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 2024 EBITDA amounted to $80 million with a net income of $44.5 million, or $0.27 per share.
Total revenue reached $103.7 million, with a quarterly average TCE of $49,100 per day.
Vessel operating expenses reached $20.4 million, including some one-time costs.Generated $80 million in EBITDA, paid $46.8 million in dividends, and managed $16 million in regular debt repayment and cash interest.
Business Progress:
DHT Holdings utilized a strong balance sheet with a net debt of $14.2 million per vessel and total liquidity of $263 million.
Maintained spot market TCE earnings at $52,700 per day for the second quarter.
Paid first installments for all four new buildings, amounting to $51.5 million.
Continued a stable dividend policy, declaring a $0.27 per share quarterly cash dividend.
Opportunities:
Increased revenue days due to better delivery schedules for the newbuilding program which expects an increase of 550-600 days.
Continued global demand for crude oil and longer transportation distances provide positive market outlook and opportunities for increased business.
Risks:
The spot market is currently weak due to seasonal patterns and refinery maintenance, with potential further reductions from the average spot rates.
Risks of cyclical changes in the China market could affect long-term demand and spot market volatility.
More details: DHT Holdings IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
