Core Insights - HairSmart is leading the movement against genetic hair loss with its all-natural DHT Blocker, recently recognized as the 1 Natural DHT Blocker in North America [1][2] Group 1: DHT and Its Impact - DHT (dihydrotestosterone) is a byproduct of testosterone that causes hair follicles to shrink, leading to androgenetic alopecia, which affects both men and women [3] - Blocking DHT is crucial to prevent irreversible damage to hair follicles [3] Group 2: Product Comparison - Pharmaceutical DHT blockers like Finasteride and Dutasteride inhibit the enzyme 5-alpha-reductase but may cause side effects such as sexual dysfunction and mood changes [4] - HairSmart's Natural DHT Blocker contains a blend of natural ingredients like saw palmetto, stinging nettle, and pumpkin seed oil, which have been clinically shown to inhibit DHT production without side effects [4] Group 3: Comprehensive Hair Defense - The HairSmart DHT Blocker is part of a Hair Defense Stack that includes an Essential Hair Vitamin, designed to improve hair density and reduce shedding [5][6] - The combination of the DHT Blocker and Hair Vitamin provides a natural system for hair protection and regrowth [6] Group 4: Clinical Results - Clinical trials indicate significant improvements in hair thickness and reduced shedding within 90 days of using the HairSmart Hair Defense Stack [7]

Core Viewpoint - Investors in DHT Holdings, Inc. should closely monitor the stock due to significant movements in the options market, particularly the high implied volatility of the Oct 17, 2025 $20.00 Put option [1] Company Analysis - DHT Holdings is currently rated as Zacks Rank 3 (Hold) in the Transportation - Shipping industry, which is positioned in the bottom 36% of the Zacks Industry Rank [3] - Over the past 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward, resulting in a decrease in the Zacks Consensus Estimate from earnings of 26 cents per share to 13 cents [3] Options Market Insights - The high implied volatility surrounding DHT shares indicates that options traders are anticipating a significant price movement, which could suggest an upcoming event that may lead to a rally or sell-off [2][4] - Seasoned options traders often seek to sell premium on options with high implied volatility, aiming to benefit from the decay of the option's value if the underlying stock does not move as much as expected by expiration [4]

Financial Data and Key Metrics Changes - In Q2 2025, the company achieved revenues on a TCE basis of $92.8 million and adjusted EBITDA of $69 million, with net income of $56 million, equating to $0.35 per share [5][6] - After adjusting for a $17.5 million gain on the sale of vessels, the net profit for the quarter was $38.6 million, or $0.24 per share [6] - Vessel operating expenses for the quarter were $19.6 million, and G&A expenses were $4.6 million [6] - The average TCE for vessels in the spot market was $48,700 per day, while vessels on time charters made $42,800 per day, resulting in a combined average TCE of $46,300 per day [6] Business Line Data and Key Metrics Changes - The DHT Appaloosa entered a seven to nine-year time charter contract with a global energy major at a fixed base rate of $41,000 per day, plus a profit-sharing structure [11] - The company sold two vessels, DHT Lotus and DHT Pony, for a combined price of $103 million, with a capital gain of $17.5 million recorded during the quarter [13][14] Market Data and Key Metrics Changes - India’s imports of Russian oil decreased by 20% in July, impacting chartering activity and favoring larger ships [27][28] - The company noted that OPEC's announcement to finish unwinding cuts earlier than expected could lead to increased interest in VLCC capacity [37][40] Company Strategy and Development Direction - The company continues to focus on maintaining a robust balance sheet with low leverage and significant liquidity, ending the quarter with total liquidity of $299 million [6][7] - A new building financing update revealed a secured credit facility of $308.4 million to finance four new buildings, indicating confidence from lenders in the company's financial position [16][17] - The company aims to pay out 100% of ordinary net income as quarterly cash dividends, declaring a dividend of $0.24 per share for Q2 2025 [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the VLCC market dynamics, citing a favorable supply story with an aging fleet and a benign order book of new ships [22] - The company anticipates a potential turnaround in the market despite a disappointing start to Q3, with several positive catalysts expected to influence VLCC performance [46][50] Other Important Information - The company has a fleet renewal strategy focused on creating shareholder value, with recent sales of older vessels being part of this strategy [41][43] - The company is exploring financing options for the acquisition of a modern secondhand vessel, indicating a conservative approach to leverage [57] Q&A Session Summary Question: Impact of tariffs from India on chartering activity - Management noted a 20% decrease in Russian oil imports to India, which could favor larger ships moving forward [27][28] Question: Repeatability of strong fixture rates for older ships - Management indicated success in securing time charters for older vessels, with rates starting in the low $40,000s, suggesting potential for repeat fixtures [30][32] Question: Changes in conversations with charters due to OPEC's actions - Management observed increased interest from customers in securing VLCC capacity, indicating a bullish signal for the market [39][40] Question: Fleet renewal strategy and maintaining fleet size - Management emphasized a case-by-case approach to fleet renewal, focusing on value creation and earnings per share [41][43] Question: Reasons for recent disappointment in VLCC performance - Management attributed the recent downturn to inventory building in China and a tapering of production, but expressed confidence in a temporary nature of these issues [46][49] Question: Update on dry dock schedule - Management confirmed only one ship is scheduled for dry dock in the second half of the year [52] Question: Utilization rates of sanctioned vessels - Management indicated limited ability to track the utilization of sanctioned vessels but estimated their productivity to be around 50% compared to compliant vessels [68][70] Question: Competitive financing rates and company’s attractiveness to banks - Management highlighted the company's strong balance sheet and stable banking relationships as factors contributing to competitive financing rates [72][74]

August 7, 2025 SECOND QUARTER 2025 RESULTS DISCLAIMER Forward Looking Statements This presentation contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding dividends (including our dividend plans, timing and the amount and growth of any dividends), daily charter rates, vessel utilization, the future number of n ...

Core Viewpoint - DHT Holdings reported quarterly earnings of $0.24 per share, exceeding the Zacks Consensus Estimate of $0.23 per share, but down from $0.27 per share a year ago, indicating an earnings surprise of +4.35% [1][2] Financial Performance - The company posted revenues of $93.19 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 0.57%, and down from $103.7 million year-over-year [2] - Over the last four quarters, DHT Holdings has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance - DHT Holdings shares have increased approximately 26.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 7.1% [3] Future Outlook - The company's earnings outlook will be crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.13 on revenues of $95.48 million, and for the current fiscal year, it is $0.85 on revenues of $377.31 million [7] Industry Context - The Transportation - Shipping industry, to which DHT Holdings belongs, is currently ranked in the bottom 39% of over 250 Zacks industries, indicating potential challenges ahead [8]

Company Overview - DHT Holdings, Inc. is an independent crude oil tanker company operating internationally with a fleet focused on the VLCC segment [2] - The company has management companies located in Monaco, Norway, Singapore, and India, emphasizing first-rate operations and customer service [2] - DHT maintains a prudent capital structure to ensure stability through business cycles, combining market exposure with fixed income contracts [2] Financial Results - DHT announced its financial results for the quarter ended June 30, 2025, with a full report available for review [1] Corporate Governance - The company emphasizes a transparent corporate structure, maintaining high levels of integrity and corporate governance [2]

Core Viewpoint - DHT Holdings, Inc. has secured a $308.4 million senior secured credit facility for financing four newbuildings, enhancing its fleet and service offerings [1][3]. Financing Details - The credit facility is co-arranged by ING Bank and Nordea Bank Abp, with ING Bank serving multiple roles including Coordinator and Security Agent [2]. - The facility has an interest rate of SOFR plus a weighted average margin of 1.32%, with a maturity of 12 years from the delivery date and a 20-year repayment profile [2]. Company Strategy - The CEO emphasized the confidence of banking partners in DHT's long-term strategy, highlighting the competitive margin and extended tenor of the credit facility [3]. - The financing aligns with DHT's robust financial foundation and supports the company's fleet renewal and expansion plans [3]. Company Overview - DHT is an independent crude oil tanker company operating internationally with a fleet focused on the VLCC segment [4]. - The company is recognized for its quality operations, prudent capital structure, and disciplined capital allocation strategy [4].

Core Points - DHT Holdings, Inc. will release its second quarter 2025 results after market close on August 6, 2025 [1] - A conference call and webcast will be held on August 7, 2025, at 8:00 a.m. EDT/14:00 CEST to discuss the quarterly results [1] - Participants must register in advance to access the conference call [1] Company Overview - DHT is an independent crude oil tanker company with a fleet that operates internationally in the VLCC segment [2] - The company emphasizes first-rate operations, customer service, and a prudent capital structure to ensure stability through business cycles [2] - DHT employs a disciplined capital allocation strategy, including cash dividends, vessel investments, debt prepayments, and share buybacks [2]

Core Viewpoint - DHT Holdings has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the importance of earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [4][6]. - For DHT Holdings, the Zacks Consensus Estimate for the fiscal year ending December 2025 is projected at $0.99 per share, remaining unchanged from the previous year, but has seen a 5.9% increase in estimates over the past three months [8]. Institutional Investor Influence - Institutional investors play a role in the relationship between earnings estimates and stock prices, as they adjust their valuations based on these estimates, leading to significant buying or selling activity that impacts stock prices [4]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - DHT Holdings' upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term [10].

Company Overview - DHT Holdings is currently ranked 2 (Buy) in the Zacks Rank system, indicating a favorable outlook for the stock [3] - The stock has gained approximately 22.5% year-to-date, significantly outperforming the Transportation sector, which has returned an average of -4.5% [4] Earnings Estimates - Over the past three months, the Zacks Consensus Estimate for DHT's full-year earnings has increased by 5.9%, reflecting improved analyst sentiment [4] Industry Context - DHT Holdings is part of the Transportation - Shipping industry, which consists of 38 individual stocks and currently holds a rank of 28 in the Zacks Industry Rank [6] - The average performance of this industry has been a loss of 1.7% year-to-date, further highlighting DHT's superior performance [6] Comparative Performance - Another notable stock in the Transportation sector is Flex LNG, which has returned 1% year-to-date and has a Zacks Rank of 1 (Strong Buy) [5] - Both DHT Holdings and Flex LNG are expected to maintain solid performance moving forward [7]