Q3 25 EPS
$0.28
BEAT +60.18%
Est. $0.17
Q3 25 Revenue
$107.3M
BEAT +35.46%
Est. $79.2M
vs S&P Since Q3 25
+46.3%
BEATING MARKET
DHT +54.2% vs S&P +7.9%
Market Reaction
Did DHT Beat Earnings? Q3 2025 Results
DHT Holdings posted a headline-beating third quarter, with earnings per share of $0.28 and total revenue of $107.35 million, as a $15.70 million gain on the sale of the DHT Peony lifted reported net profit to $44.80 million, well above the $35.20 mil… Read more DHT Holdings posted a headline-beating third quarter, with earnings per share of $0.28 and total revenue of $107.35 million, as a $15.70 million gain on the sale of the DHT Peony lifted reported net profit to $44.80 million, well above the $35.20 million recorded a year ago despite a meaningful decline in shipping revenues from $141.10 million to $107.20 million. The revenue softness reflected both lower time charter equivalent rates and fewer revenue days as the fleet shrank through vessel dispositions, but the sale gain more than offset that drag at the bottom line. Stripping out one-time items, ordinary net income of $29.50 million, or $0.18 per share, set the quarterly dividend, marking DHT's 63rd consecutive payout. Combined average TCE earnings of $40,500 per day in Q3 are set to accelerate sharply, with Q4 spot bookings already running at $64,900 per day on 68% of available days, pointing to a robust seasonal upturn as the company simultaneously expands its fleet through four VLCC newbuildings due in H1 2026 and the pending acquisition of DHT Nokota.
Key Takeaways
- • Lower time charter equivalent rates reduced shipping revenues by $18.9 million YoY
- • Smaller fleet size reduced revenue days contributing $15.1 million revenue decline
- • $15.7 million gain on sale of DHT Peony boosted net profit
- • Decreased interest expense of $4.7 million improved net financial expenses
- • Combined average TCE earnings of $40,500/day in Q3 2025
- • Spot exposure reduced to 54.9% from 74.5% in Q3 2024
DHT YoY Financials
Q3 2025 vs Q3 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% |