NYSE$DHT
DHT Holdings Inc · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
DHT earned Q3 net profit of $44.8M ($0.28/share) on $107.2M shipping revenue as VLCC TCE averaged $40,500/day and a vessel sale added $15.7M.
DHT Holdings reported third-quarter 2025 shipping revenues of $107.2 million, down from $141.1 million a year earlier on lower TCE rates and fewer revenue days after fleet sales. Net profit was $44.8 million, or $0.28 per basic share, compared with $35.2 million and $0.22 in Q3 2024; after adjusting for a $15.7 million gain on the DHT Peony sale and derivative marks, ordinary net income was $29.5 million ($0.18/share). Adjusted EBITDA was $57.7 million and the company declared a $0.18 quarterly dividend while ending the quarter with $81.2 million cash and $268.5 million interest-bearing debt.
- Q3 shipping revenue was $107.2M versus $141.1M in Q3 2024; average VLCC TCE was $40,500/day ($38,700 spot, $42,800 time charter).
- Reported net profit was $44.8M ($0.28/share); ordinary net income after vessel-sale and derivative adjustments was $29.5M ($0.18/share).
- DHT Peony delivered in July generated a $15.7M sale gain; adjusted EBITDA was $57.7M.
- Declared a $0.18/share dividend payable Nov. 19; cash was $81.2M and net debt $187.3M at Sept. 30.
- Q4 spot bookings to date average $64,900/day on 68% of available spot days; fleet stood at 21 VLCCs.
Headline financials
Revenue & EPS history
DHT Holdings · Revenue · Quarterly
$107M
Forward guidance
Management disclosed Q4 2025 booking visibility with 901 term charter days at $42,200/day and 730 spot days booked at $64,900/day, with a spot break-even of $15,200/day.
Tailwinds
- 68% of Q4 VLCC spot days booked at $64,900/day discharge-to-discharge
- 83% of combined spot and time-charter days booked at $52,400/day average
Headwinds
- Shipping revenue down year over year on lower rates and fewer revenue days
- U.S.-China port fee regimes create uncertainty for China-linked trades
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
+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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