Group 1: Earnings Performance - DHT Holdings reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.15 per share, but down from $0.29 per share a year ago, representing an earnings surprise of 80% [1] - The company posted revenues of $79.75 million for the quarter, surpassing the Zacks Consensus Estimate by 2.29%, but down from $106.34 million year-over-year [2] - Over the last four quarters, DHT Holdings has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - DHT Holdings shares have increased approximately 21% since the beginning of the year, contrasting with the S&P 500's decline of -3.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $72.63 million, and for the current fiscal year, it is $0.84 on revenues of $359.27 million [7] Group 3: Industry Context - The Transportation - Shipping industry, to which DHT Holdings belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact DHT Holdings' stock performance [5][6]

Core Viewpoint - DHT Holdings, Inc. announced its financial results for the first quarter of 2025, highlighting its operational performance and strategic focus in the crude oil tanker industry [1]. Company Overview - DHT is an independent crude oil tanker company with a fleet that operates internationally, specifically in the VLCC segment [2]. - The company emphasizes its experienced management, quality operations, and customer service, alongside a prudent capital structure that supports resilience through business cycles [2]. - DHT employs a disciplined capital allocation strategy, which includes cash dividends, vessel investments, debt prepayments, and share buybacks [2]. - The company maintains a transparent corporate structure with a strong commitment to integrity and corporate governance [2]. Financial Reporting - The financial report for Q1 2025 is available for review, providing detailed insights into the company's performance during this period [1][5].

Company Overview - DHT Holdings (DHT) is expected to report a year-over-year decline in earnings due to lower revenues for the quarter ended March 2025, with a consensus EPS estimate of $0.15, reflecting a -48.3% change [3][12] - Revenues are anticipated to be $77.96 million, down 26.7% from the same quarter last year [3] Earnings Expectations - The earnings report is scheduled for release on May 6, 2025, and could influence the stock price depending on whether the actual results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised 12.82% lower in the last 30 days, indicating a reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP (Expected Surprise Prediction) model indicates a positive Earnings ESP of +10.35% for DHT Holdings, suggesting recent bullish sentiment among analysts [10][11] - However, the stock currently holds a Zacks Rank of 4 (Sell), complicating predictions of an earnings beat [11] Historical Performance - In the last reported quarter, DHT Holdings had an earnings surprise of +88.89%, posting earnings of $0.34 per share against an expectation of $0.18 [12] - Over the past four quarters, the company has beaten consensus EPS estimates two times [13] Industry Context - In the Zacks Transportation - Shipping industry, Scorpio Tankers (STNG) is expected to report earnings of $0.85 per share for the same quarter, reflecting a year-over-year decline of -78.6% [17] - Scorpio Tankers' revenue is projected to be $197.19 million, down 49.4% from the previous year [17] - The consensus EPS estimate for Scorpio Tankers has been revised 11.6% lower, resulting in a negative Earnings ESP of -28.37% [18]

Core Viewpoint - DHT Holdings, Inc. will release its first quarter 2025 results on May 6, 2025, followed by a conference call on May 7, 2025, to discuss the results [1] Group 1: Upcoming Financial Results - The company will announce its Q1 2025 results after market close on May 6, 2025 [1] - A conference call and webcast will take place on May 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, receiving dial-in numbers and a unique personal PIN upon registration [1] Group 2: Webcast and Recording - The webcast will include a slide presentation and can be accessed via a specific link [2] - A recording of the audio and slides will be available until May 14, 2025, at 14:00 CEST [2] Group 3: Company Overview - DHT Holdings, Inc. is an independent crude oil tanker company operating internationally with a fleet in the VLCC segment [2] - The company emphasizes a strong operational focus, quality ships, and a prudent capital structure to navigate business cycles [2] - DHT employs a disciplined capital allocation strategy, including cash dividends, vessel investments, debt prepayments, and share buybacks [2]

Core Insights - DHT Holdings has a strong track record of exceeding earnings estimates, particularly in the last two quarters, with an average surprise of 46.83% [1] - In the most recent quarter, DHT reported earnings of $0.34 per share, surpassing the expected $0.18 per share by 88.89% [2] - The previous quarter also saw a positive surprise, with actual earnings of $0.22 per share against an estimate of $0.21 per share, resulting in a 4.76% surprise [2] Earnings Estimates and Predictions - Recent estimates for DHT Holdings have been revised upward, indicating growing analyst confidence in the company's earnings potential [5] - The Zacks Earnings ESP for DHT is currently +10.35%, suggesting a favorable outlook for upcoming earnings [8] - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of beating consensus estimates [6] Earnings ESP and Market Behavior - The Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7] - A positive Earnings ESP combined with a Zacks Rank of 3 indicates a strong possibility of another earnings beat for DHT [8] - It is crucial for investors to check a company's Earnings ESP prior to quarterly releases to enhance the likelihood of successful investment decisions [9]

Core Viewpoint - DHT Holdings, Inc. has announced the sale of two vessels, DHT Lotus and DHT Peony, for a total of $103 million, which aligns with the company's strategy to optimize its fleet profile and respond to market trends [1][2]. Financial Summary - The sale price for the two vessels is $103 million, with expected net cash proceeds of approximately $85 million after repaying existing debt of $15.9 million [1]. - The company anticipates recording gains of $17.5 million in the second quarter and $15.5 million in the third quarter from this transaction [1]. Company Background - DHT Holdings, Inc. operates as an independent crude oil tanker company with a fleet focused on the VLCC segment, trading internationally [2]. - The company emphasizes a prudent capital structure, disciplined capital allocation strategy, and high standards of corporate governance [2].

Group 1: PennantPark Floating Rate Capital (PFLT) - The company is a closed-end, externally managed, and non-diversified investment firm focused on generating current income and capital appreciation through investments in floating rate loans primarily to U.S. middle-market companies [1] - The Zacks Consensus Estimate for its current year earnings has increased by 4.7% over the last 60 days [1] - The company has a dividend yield of 13.1%, significantly higher than the industry average of 3.4% [2] Group 2: Swedbank (SWDBY) - Swedbank is a leading Nordic-Baltic banking group serving retail and corporate customers in Sweden, Estonia, Lithuania, and Latvia [2] - The Zacks Consensus Estimate for its current year earnings has increased nearly 4.8% over the last 60 days [2] - The company has a dividend yield of 6.9%, compared to the industry average of 4.1% [2] Group 3: DHT (DHT) - DHT operates a fleet of double-hull crude oil tankers on international routes [3] - The Zacks Consensus Estimate for its current year earnings has increased nearly 1.1% over the last 60 days [3] - The company has a dividend yield of 6.7%, which is higher than the industry average of 3.3% [3]

Financial Performance - In Q4 2024, DHT Holdings reported shipping revenues of $130.8 million, a decrease from $142.3 million in Q4 2023, primarily due to lower time charter rates[14]. - Adjusted EBITDA for Q4 2024 was $60.6 million, with a net profit of $54.7 million, translating to earnings of $0.34 per basic share, compared to $35.3 million or $0.22 per share in Q4 2023[20]. - Total shipping revenues for 2024 were $567.8 million, an increase from $556.1 million in 2023, driven by increased total revenue days[27]. - The company reported a net profit of $181.5 million for 2024, or $1.12 per basic and diluted share, compared to a net profit of $161.4 million, or $0.99 per share in 2023, reflecting a 12.4% increase in net profit[34]. - Total revenues for the 12 months of 2024 increased to $571.773 million, up 2.2% from $560.556 million in 2023[51]. - Basic earnings per share for 2024 were $1.12, an increase from $0.99 in 2023[51]. - Total comprehensive income for the 12 months of 2024 was $181.336 million, compared to $161.017 million in 2023[53]. Cash Flow and Dividends - Net cash provided by operating activities for 2024 was $298.7 million, up 18.8% from $251.4 million in 2023, driven by a $51.2 million change in operating assets and liabilities[35]. - Cash dividends paid in 2024 totaled $161.396 million, down from $186.672 million in 2023[55]. - The company declared a cash dividend of $0.17 per share for Q4 2024, marking the 60th consecutive quarterly cash dividend, payable on February 25, 2025[4]. - Total dividend payments made during 2024 amounted to $161.4 million, with a per common share payment of $1.00[99]. Operational Metrics - The company achieved average combined time charter equivalent earnings of $38,800 per day in Q4 2024, with VLCCs in the spot market earning $38,200 per day[4]. - For Q1 2025, DHT estimates an average term time charter rate of $41,700 per day and has booked 74% of available VLCC spot days at an average rate of $36,400 per day[10]. - Time charter revenues increased to $24.1 million in Q4 2024 from $16.7 million in Q4 2023, representing a growth of 44.4%[68]. - As of December 31, 2024, the company had 24 vessels in operation, with 7 on time charters and 17 operating in the spot market[69]. Expenses and Investments - Voyage expenses for 2024 were $179.6 million, an increase of 8.5% from $165.7 million in 2023, primarily due to a $17.3 million rise in bunker expenses[29]. - Vessel operating expenses for 2024 were $78.6 million, up 3.9% from $75.4 million in 2023, attributed to an additional vessel in the fleet[30]. - Depreciation and amortization for 2024 was $111.9 million, a 2.8% increase from $108.9 million in 2023, mainly due to higher depreciation of vessels[31]. - The company invested $90.196 million in vessels under construction during 2024[55]. Asset and Equity Position - The company had a total asset value of $1.486 billion as of December 31, 2024, a slight decrease from $1.492 billion in 2023[49]. - Total equity attributable to the company increased to $1.038 billion in 2024 from $1.027 billion in 2023, reflecting a positive trend in equity growth[49]. - Interest-bearing debt totaled $409.4 million as of December 31, 2024[75]. Share Repurchase and Market Activity - The company purchased 1,481,383 of its own shares in Q4 2024, representing 0.9% of outstanding shares, at an average price of $8.89[4]. - The Company purchased 1,481,383 shares in Q4 2024 for an aggregate consideration of $13.2 million, at an average price of $8.89[97]. Future Expectations and Contracts - A one-year time charter contract for DHT China was entered into in January 2025, with a rate of $40,000 per day[106]. - The Company expects to book a gain of about $19.8 million in Q1 2025 related to the sale of DHT Scandinavia, which was sold for $43.4 million[94]. - Future expected payments related to vessels under construction total $429.7 million as of December 31, 2024[93].

Core Viewpoint - DHT Holdings, Inc. has filed its 2024 annual report on Form 20-F with the SEC, providing insights into its operations and financial performance [1]. Company Overview - DHT is an independent crude oil tanker company with a fleet that operates internationally, specifically in the VLCC segment [2]. - The company has integrated management companies located in Monaco, Norway, Singapore, and India [2]. - DHT emphasizes a business approach focused on high-quality operations, customer service, and a prudent capital structure that enhances resilience through business cycles [2]. - The company employs a disciplined capital allocation strategy, which includes cash dividends, vessel investments, debt prepayments, and share buybacks [2]. - DHT maintains a transparent corporate structure with a strong commitment to integrity and corporate governance [2]. Financial Reporting - The audited financial statements for 2024 are available on DHT's website, and shareholders can request a hard copy free of charge [1].

Financial Risks - The Secured Overnight Finance Rate (SOFR) increased from 0.05% to 5.38% between the start of 2022 and the end of 2023, which could materially adversely affect the company's operating results and cash flows [41]. - Five customers represented 50%, 61%, and 61% of the company's revenue in 2022, 2023, and 2024, respectively, indicating a high revenue concentration risk [42]. - The company relies on its subsidiaries for fund distribution to meet financial obligations, which could be restricted by various laws and agreements [48]. - The company is subject to operational risks that could impair charterers' ability to make payments, affecting financial results [93]. - The company may incur additional costs due to climate change regulations and scrutiny over sustainability practices, potentially affecting financial performance [76]. - The company may be subject to taxation in Norway, which could materially affect operations and result in Norwegian withholding taxes on dividends [119]. - Potential additional income tax from the CIT Act may adversely affect the company's business and financial condition [120]. Market Conditions - The tanker industry is highly cyclical, and fluctuations in charter rates and vessel values are influenced by supply and demand for tanker capacity and oil products [57]. - The tanker market's volatility is influenced by global economic conditions, OPEC production changes, and environmental regulations, which could adversely affect business operations [63]. - The global economy faces downside risks from high inflation, energy costs, and fiscal fragility, which may lead to weaker demand for shipping services [67]. - China's economic growth and oil demand have not met projections, which could negatively impact global shipping demand [68]. - The ongoing conflicts in the Middle East and the Red Sea Crisis have raised concerns about oil supply stability, which could adversely affect the company's operations [66]. Compliance and Regulatory Risks - Compliance with environmental regulations, such as the Energy Efficiency Index (EEXI) and Carbon Intensity Indicator (CII), may require significant capital expenditures to maintain compliance [75]. - The company monitors compliance with sanctions through communication with charterers and administrators, but future compliance cannot be guaranteed [85]. - The company is committed to compliance with anti-corruption laws, but violations could result in significant penalties and damage to reputation [86]. - The company has faced sanctions and embargo laws that could affect trading prices and investor perception [85]. Operational Risks - The company has 16 vessels operating in the spot market, exposing it to significant fluctuations in spot market rates, which can be unpredictable [58]. - Changes in trading patterns for particular commodities can significantly impact overall tonnage requirements, affecting the company's operations [41]. - The company is exposed to risks from potential cyberattacks that could disrupt IT systems and result in lost revenues and additional costs [54]. - Acts of piracy in regions like the Gulf of Aden and the Red Sea could lead to increased insurance premiums and operational costs, impacting overall profitability [80]. - Insurance coverage may be insufficient to cover all operational risks, with pollution liability coverage capped at $1 billion per vessel per occurrence [95]. - Maritime claimants could arrest vessels, potentially interrupting cash flow and requiring significant payments to lift arrests [96]. - Government requisition of vessels during war or emergencies could adversely affect revenues and cash available for dividends [97]. Competitive Landscape - The company operates in a highly competitive tanker market, facing competition from major oil companies and independent tanker companies with larger fleets [92]. - The carrying values of vessels may not reflect their charter-free market value, and impairment reviews are conducted when circumstances indicate [91]. Geopolitical Risks - The geopolitical environment, including tensions between the U.S. and China, could lead to increased operating costs due to proposed port fees targeting Chinese-built ships, potentially impacting financial results [65]. - The conflict between Russia and Ukraine may result in further economic sanctions, affecting the company's operations and financial condition [78]. - The company faces risks from potential trade tariffs and embargoes that could limit trading activities with countries in the Middle East and Asia [66]. - The structural issues in the EU post-Brexit could create uncertainty in financial markets, potentially impacting the company's business operations [70]. Shareholder Considerations - The market price of the company's common stock may be volatile due to various factors, including industry conditions and operating results [98]. - Future sales of common stock could dilute existing shareholders and depress market prices [100]. - The company may not pay dividends in the future, and its dividend policy is subject to change based on various financial factors [103]. Taxation Issues - The company is incorporated in the Marshall Islands, which lacks a well-developed body of corporate law, potentially complicating legal claims [106]. - The company believes it is not currently classified as a Passive Foreign Investment Company (PFIC), which could have adverse tax consequences for U.S. stockholders [112]. - If the company loses its tax exemption status, it would face a 4% U.S. federal income tax on U.S. source gross transportation income, negatively impacting earnings available for distribution [117]. - Bermuda enacted the Corporate Income Tax ("CIT") Act 2023, imposing a 15% income tax on companies with revenue exceeding €750 million for two of the previous four fiscal years [120]. - The CIT Act will be effective for fiscal years beginning on or after January 1, 2025, with a five-year deferred effective date for certain groups [120]. - Currently, the company is not subject to any income or capital gains taxes in Bermuda [120].