NYSE$DHT
DHT Holdings Inc · Q2 2025 earnings
Q2 2025 earnings · · After market close · Investor relations
Briefing
DHT Q2 2025: $128M shipping revenue, $0.35 EPS; $0.24 dividend declared
DHT Holdings reported second quarter 2025 shipping revenues of $127.9 million, down from $150.1 million in Q2 2024, reflecting lower VLCC time charter equivalent rates and fewer revenue days. Net profit was $56.0 million ($0.35 per basic share), including a $17.5 million gain on the sale of DHT Lotus; adjusted net profit excluding the gain was $38.6 million ($0.24 per share). Adjusted EBITDA was $69.0 million. The fleet achieved average combined TCE of $46,300/day (VLCC spot $48,700, time charter $42,800). DHT declared a $0.24 per share dividend for the 62nd consecutive quarter. The company sold DHT Lotus and DHT Peony for $103M, acquired a 2018-built VLCC for $107M, and secured new time charter contracts.
- Shipping revenues $127.9M; net profit $56.0M ($0.35/share), $38.6M ($0.24) ex-vessel sale gain.
- Average VLCC TCE $46,300/day; 73% of Q3 spot days booked at $38,500/day so far.
- Declared $0.24/share dividend (62nd consecutive quarter); net debt $220.1M.
- Sold DHT Lotus/Peony for $103M; acquiring 2018 VLCC for $107M to improve fleet age profile.
- New seven-year time charter for DHT Appaloosa at $41,000/day base plus profit sharing.
Headline financials
Revenue & EPS history
DHT Holdings · Revenue · Quarterly
$128M
Forward guidance
For Q3 2025, 73% of available VLCC spot days booked at $38,500/day; 84% of combined spot and TC days at $39,500/day. Management maintains positive outlook citing aging fleet and benign orderbook.
Tailwinds
- Strong dividend policy at 100% of ordinary net income
- Fleet renewal improving efficiency
- Constructive VLCC supply dynamics
Headwinds
- Q2 rates below prior year
- Q3 bookings disappointing vs Q2
- Spot exposure ~60% of operating days
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 Q2 2025
+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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