TORM (One-pager): Bottom taken out of guidance as strong markets continue
Read the latest TORM One-pager update following the Q1 2024 results. The One-pager includes a brief description of TORM, an update to the product tanker market, latest financials, valuation perspectives relative to a peer group, and outlines several key investment risks and key investment reasons.
In Q1 2024, TORM continued experiencing strong product tanker markets as demand remained high, particularly with low on-land inventory levels, ton-miles remained elevated, due to refinery dislocations and avoidance of the Red Sea, and the net orderbook remained low. As a result, TORM continues returning value to shareholders via dividends, declaring USD 1.50 per share for the quarter, and TORM also took the bottom out of its guidance, now expecting TCE income of USDm 1,100-1,350 (previously USDm 1,000-1,350) and EBITDA of USDm 800-1,050 (previously USDm 700-1,050).
To learn more about TORM and its outlook for the remainder of 2024 and beyond, catch up on the latest Q1 2024 earnings presentation with TORM CFO Kim Balle.
Link: https://www.inderes.dk/videos/torm-praesentation-af-q1-2024
Disclaimer: HC Andersen Capital receives payment from TORM for a DigitalIR/corporate visibility subscription agreement./ Philip Coombes 11:30 21.05.2024
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Torm är verksamt inom sjöfart. Idag innehas fokus på transport av flytande bränslen, inkluderat bensin, flygbränsle, olja och diesel. Bolaget förfogar över ett flertal fartyg i olika storlekar, anpassade för avancerad godstransport. För övrigt står hållbarhet och säkerhet för en viktig del av bolagets affärsverksamhet. Bolaget innehar verksamhet på global nivå och grundades ursprungligen 1889.
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