NYSE$DHT
DHT Holdings Inc · Q1 2026 earnings
Q1 2026 earnings · · After market close · Investor relations
Briefing
DHT Q1 2026: $186M shipping revenue and $1.02 EPS on strong VLCC spot rates
DHT Holdings, Inc. reported first-quarter 2026 shipping revenues of $186.3 million, up from $118.2 million in Q1 2025, with adjusted net revenues of $157.2 million and adjusted EBITDA of $133.3 million. Net profit was $164.5 million ($1.02 basic and diluted EPS), including a $60.0 million gain on the sale of DHT Europe and DHT China; ordinary net income after adjusting for that gain and derivatives was $103.4 million ($0.64 per share). Average combined TCE was $78,800/day, with VLCC spot earnings of $91,700/day and time-charter VLCCs at $61,300/day. The company declared a $0.64 quarterly dividend (65th consecutive), took delivery of three newbuild VLCCs, and fixed additional time charters at elevated rates. Cash was $126.2 million at March 31 with interest-bearing debt of $505.3 million. Q2 outlook disclosed 70% of spot days booked at $168,300/day and 85% of combined days at $113,500/day.
- Shipping revenues $186.3M; adjusted EBITDA $133.3M.
- Net profit $164.5M ($1.02 EPS), including $60M vessel sale gain; ordinary EPS $0.64.
- Average VLCC spot TCE $91,700/day; combined fleet TCE $78,800/day.
- Declared $0.64 dividend; fleet 23 VLCCs after sales and newbuild deliveries.
- Q2 spot days 70% booked at $168,300/day on discharge-to-discharge basis.
Headline financials
Revenue & EPS history
DHT Holdings · Revenue · Quarterly
$186M
Forward guidance
For Q2 2026, DHT guided 997 time-charter days at ~$73,900/day and 720 spot days booked to date at $168,300/day (70% of spot days), with 85% of combined days booked at $113,500/day.
Tailwinds
- Tight VLCC supply-demand
- Term charter coverage at high rates
- Newbuild deliveries timed well
Headwinds
- Geopolitical disruption in Middle East Gulf trade routes
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 Q1 2026
+0.2%
Avg return
Earnings day
+1.2%
Avg return
5 days after
-1.0%
Avg return
30 days after
46%
21 / 46 earnings
Positive
+15.2%
Q4 2022
Best reaction
-17.0%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +0.7% | +4.8% | |
| Q4 2026 | -0.8% | -2.0% | -12.9% | |
| Q3 2025 | +0.6% | -1.5% | -0.2% | |
| Q2 2025 | +1.5% | -2.4% | +8.1% | |
| Q1 2025 | -1.0% | -0.3% | +1.3% | |
| Q4 2024 | -2.5% | -6.2% | -8.9% | |
| Q3 2024 | +3.8% | +1.4% | -13.4% | |
| Q2 2024 | -1.6% | +3.9% | -2.7% | |
| Q1 2024 | +1.1% | +2.8% | -6.5% | |
| Q4 2023 | +4.8% | +5.2% | +5.6% | |
| Q3 2023 | -7.0% | -10.4% | -12.1% | |
| Q2 2023 | -0.8% | -2.4% | -11.4% | |
| Q1 2023 | -10.4% | -11.2% | -12.0% | |
| Q4 2022 | +15.2% | +23.9% | +27.7% | |
| Q3 2022 | +4.6% | +1.5% | -6.3% | |
| Q2 2022 | +3.1% | +6.9% | +13.0% | |
| Q1 2022 | -2.0% | -2.5% | +5.0% | |
| Q4 2021 | +9.4% | +14.1% | +15.7% | |
| Q3 2021 | -2.6% | -5.1% | -19.5% | |
| Q2 2021 | -0.7% | -1.5% | +7.3% | |
| Q1 2021 | -4.1% | -3.9% | +1.8% | |
| Q4 2020 | -0.3% | -0.3% | +2.3% | |
| Q3 2020 | +12.0% | +5.8% | +6.8% | |
| Q2 2020 | -0.3% | +8.2% | -6.6% | |
| Q1 2020 | -14.6% | -9.1% | -23.4% | |
| Q4 2019 | +0.0% | +1.2% | -9.0% | |
| Q3 2019 | -0.4% | +3.0% | +0.5% | |
| Q2 2019 | +2.8% | -0.6% | +8.3% | |
| Q1 2019 | +6.9% | +5.3% | +4.2% | |
| Q4 2018 | -6.4% | -2.7% | +7.7% | |
| Q3 2018 | +8.9% | +8.5% | -10.1% | |
| Q2 2018 | +2.1% | -1.4% | +1.6% | |
| Q1 2018 | +0.6% | +5.5% | +17.6% | |
| Q4 2017 | +5.6% | +6.8% | +5.9% | |
| Q3 2017 | -5.0% | -1.3% | -7.3% | |
| Q2 2017 | -7.4% | -3.2% | -3.5% | |
| Q1 2017 | +0.4% | -0.9% | -13.3% | |
| Q4 2016 | +9.8% | +15.0% | +15.7% | |
| Q3 2016 | -17.0% | -9.8% | -12.5% | |
| Q2 2016 | +5.5% | +5.5% | -7.4% | |
| Q1 2016 | -2.3% | — | — | |
| Q4 2015 | +1.4% | — | — | |
| Q3 2015 | -5.4% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2013 | +3.4% | — | — | |
| Q2 2010 | -0.2% | — | — |
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