CSE$TRMD
Torm PLC · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
TORM Q3 2025: $77.6M net profit on $342.6M revenue as rates firm in normalized market
TORM plc reported its strongest quarter so far in 2025, with third quarter revenue of $342.6 million and net profit of $77.6 million, down from $372.1 million and $130.7 million respectively in Q3 2024 as product tanker markets normalize from prior-year highs. Time charter equivalent earnings were $236.4 million including $7.3 million of unrealized derivative losses, adjusted EBITDA was $159.4 million, and basic EPS was $0.79. TCE per day averaged $31,012 versus $33,722 a year ago. Return on invested capital was 13.8%. The board declared a Q3 interim dividend of $0.62 per share, payable December 3, 2025. For the first nine months, revenue was $986.9 million and net profit was $199.2 million. Management narrowed full-year 2025 guidance to TCE earnings of $875–925 million and EBITDA of $540–590 million, with the midpoint slightly increased.
- Q3 net profit was $77.6M on revenue of $342.6M; basic EPS was $0.79 versus $1.38 in Q3 2024.
- TCE earnings were $236.4M with TCE per day of $31,012; adjusted EBITDA was $159.4M.
- Q3 interim dividend of $0.62 per share declared, payable December 3, 2025.
- Nine-month revenue was $986.9M with net profit of $199.2M as freight rates remain below 2024 levels.
- FY 2025 guidance narrowed to TCE $875–925M and EBITDA $540–590M with a slightly higher midpoint.
Headline financials
Revenue & EPS history
Torm PLC · Revenue · Quarterly
$315M
Forward guidance
TORM narrowed full-year 2025 guidance to TCE earnings of $875–925 million and EBITDA of $540–590 million based on the current fleet size, with the midpoint slightly increased from prior guidance.
Tailwinds
- Q3 was the strongest quarter of 2025 with rates firming during the period.
- Integrated operating model continues to deliver market-leading performance and shareholder distributions.
Headwinds
- Nine-month freight rate levels remain lower than 2024, reflecting market normalization.
- Unrealized derivative losses of $7.3M reduced reported TCE in the quarter.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+1.6%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+1.2%
Avg return
30 days after
47%
9 / 19 earnings
Positive
+24.1%
Q1 2022
Best reaction
-9.5%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +5.8% | +4.0% | +8.6% | |
| Q2 2025 | +9.1% | +5.5% | +18.3% | |
| Q2 2024 | -0.2% | +1.4% | -8.9% | |
| Q1 2024 | +2.3% | +6.8% | +2.1% | |
| Q4 2023 | -0.7% | +0.5% | +4.8% | |
| Q3 2023 | +5.4% | +6.6% | -8.9% | |
| Q2 2023 | -2.5% | +1.4% | -5.7% | |
| Q1 2023 | -1.0% | -10.2% | -17.0% | |
| Q4 2022 | +5.7% | +10.8% | +4.4% | |
| Q3 2022 | -9.5% | -2.3% | -1.2% | |
| Q1 2022 | +24.1% | +32.0% | +37.6% | |
| Q4 2021 | +7.2% | +12.7% | +19.0% | |
| Q3 2021 | -2.7% | -8.5% | -8.9% | |
| Q2 2021 | -5.4% | -5.8% | -3.7% | |
| Q1 2021 | -4.4% | -4.7% | -8.0% | |
| Q4 2020 | +4.9% | -1.7% | +9.7% | |
| Q3 2020 | -4.7% | -2.2% | -5.5% | |
| Q2 2020 | +2.9% | +5.0% | -8.7% | |
| Q1 2020 | -5.4% | -4.5% | -5.9% |
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