Q1 25 EPS
$0.27
BEAT +77.28%
Est. $0.15
Q1 25 Revenue
$118.6M
BEAT +48.20%
Est. $80.0M
vs S&P Since Q1 25
+56.6%
BEATING MARKET
DHT +86.3% vs S&P +29.8%
Market Reaction
Did DHT Beat Earnings? Q1 2025 Results
DHT Holdings delivered a decisive first-quarter beat, with earnings per share of $0.27 clearing the $0.15 consensus by 77.28% and revenue of $118.57 million exceeding the $80.01 million estimate by 48.20%, even as total revenue fell 19.4% year over y… Read more DHT Holdings delivered a decisive first-quarter beat, with earnings per share of $0.27 clearing the $0.15 consensus by 77.28% and revenue of $118.57 million exceeding the $80.01 million estimate by 48.20%, even as total revenue fell 19.4% year over year amid a softer VLCC rate environment. The headline numbers were meaningfully lifted by a $19.80 million gain on the sale of DHT Scandinavia, a 2006-built VLCC divested for $43.40 million; stripped of that one-time item, adjusted EPS stood at $0.15 and adjusted EBITDA came in at $56.40 million, down from $83.70 million in Q1 2024, as average VLCC spot rates retreated to $36,300 per day from $54,000 a year earlier. The forward picture looks considerably brighter, with 72% of Q2 spot days already booked at $48,700 per day, well above Q1 levels, while management highlighted aging fleet demographics and a constrained orderbook as structural tailwinds. DHT declared a $0.15 per share dividend, its 61st consecutive quarterly distribution.
Key Takeaways
- • Lower VLCC spot rates of $36,300/day in Q1 2025 vs $54,000/day in Q1 2024 reduced shipping revenues by $26.7 million
- • $19.8 million gain on sale of DHT Scandinavia boosted reported net income
- • Decreased vessel operating expenses of $17.8 million vs $19.2 million year-over-year
- • Lower net financial expenses of $4.8 million vs $8.1 million due to reduced interest costs
- • Time charter rate of $42,700/day held firmer than spot rates
- • Five customers represented 77% of shipping revenues in Q1 2025
DHT YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
DHT Revenue by Segment
With YoY comparisons, source: SEC Filings
DHT Earnings Trends
DHT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DHT EPS Trend
Earnings per share: estimate vs actual
DHT Revenue Trend
Quarterly revenue: estimate vs actual
DHT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.62 | $0.64 | +3.21% | $186.5M | +20.57% |
| Q4 25 BEAT FY | $0.40 | $0.41 | +1.38% | $144.2M | +23.98% |
| FY Full Year | $0.99 | $1.31 | +32.64% | $498.4M | +35.36% |
| Q3 25 BEAT | $0.17 | $0.28 | +60.18% | $107.3M | +35.46% |
| Q2 25 BEAT | $0.25 | $0.35 | +40.90% | $128.3M | +36.88% |
| Q1 25 BEAT | $0.15 | $0.27 | +77.28% | $118.6M | +48.20% |