NYSE$NAT
Nordic American Tankers Ltd · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Nordic American Tankers Q1 2025: $4.2M net income, $0.07 dividend, TCE $24,714/day
Nordic American Tankers reported first quarter 2025 net income of $4.2 million, or $0.02 per share, including a $9.5 million book gain on the sale of Nordic Apollo. Net voyage revenue was $37.9 million as the 19-vessel Suezmax fleet averaged time charter equivalent earnings of $24,714 per day against operating costs of about $9,000 per day. The board declared a $0.07 per share cash dividend payable June 26, 2025, marking the company's 111th consecutive quarterly dividend. Cash and cash equivalents rose to $103.2 million at quarter end, and net debt stood at $210.3 million, or $11.1 million per ship.
- Q1 net income was $4.2M ($0.02 EPS), including a $9.5M gain on the sale of Nordic Apollo; adjusted EBITDA was $14.9M.
- Net voyage revenue totaled $37.9M with fleet average TCE of $24,714/day on a discharge-to-discharge basis.
- The board declared a $0.07 per share dividend payable June 26, 2025 to shareholders of record June 12, 2025.
- Cash and cash equivalents were $103.2M at March 31; net debt was $210.3M, equal to $11.1M per vessel.
- NAT acquired two 2016-built Suezmax tankers for $66M each and sold two older vessels for about $45M combined during early 2025.
Headline financials
Revenue & EPS history
Nordic American Tankers · Revenue · Quarterly
$37.9M
Forward guidance
Management expects strong tanker market fundamentals supported by limited Suezmax supply, OPEC volume increases, and pressure on sanctioned oil trades, while noting spot rates may remain volatile.
Tailwinds
- OPEC production increases and tighter enforcement on sanctioned trades should support compliant tanker demand.
- Limited Suezmax orderbook and aging fleet support a favorable medium-term rate outlook.
Headwinds
- Short-term spot tanker rates can be volatile when regional vessel supply imbalances occur.
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 2025
+0.3%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-0.8%
Avg return
30 days after
46%
31 / 67 earnings
Positive
+41.5%
Q4 2021
Best reaction
-15.4%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.5% | +0.6% | — | |
| Q4 2025 | +7.4% | -1.9% | +0.0% | |
| Q3 2025 | +7.4% | -0.5% | -8.8% | |
| Q2 2025 | +1.9% | +4.5% | +7.1% | |
| Q1 2025 | +0.7% | +1.9% | +13.1% | |
| Q4 2024 | -0.4% | +0.4% | +2.4% | |
| Q3 2024 | -8.3% | -4.2% | -14.2% | |
| Q2 2024 | +3.3% | +1.9% | +1.1% | |
| Q1 2024 | -2.1% | -2.8% | -5.9% | |
| Q4 2023 | +0.5% | -2.9% | -5.3% | |
| Q3 2023 | -9.3% | -6.8% | -1.9% | |
| Q2 2023 | +0.5% | -4.4% | -2.0% | |
| Q1 2023 | +3.5% | +3.0% | +1.6% | |
| Q4 2022 | +16.6% | +19.5% | +4.5% | |
| Q3 2022 | +3.2% | +5.5% | -11.8% | |
| Q2 2022 | -3.7% | -3.7% | -1.1% | |
| Q1 2022 | -8.3% | -5.2% | -7.4% | |
| Q4 2021 | +41.5% | +32.2% | +10.5% | |
| Q3 2021 | -2.6% | -3.1% | -6.3% | |
| Q2 2021 | +1.7% | +9.0% | +8.6% | |
| Q1 2021 | +2.5% | -2.5% | -3.4% | |
| Q4 2020 | +0.0% | +3.4% | +21.3% | |
| Q3 2020 | +2.8% | +4.1% | +4.4% | |
| Q2 2020 | -3.8% | -4.0% | -13.1% | |
| Q1 2020 | -10.3% | -10.9% | -10.5% | |
| Q4 2019 | -3.5% | -5.2% | -21.7% | |
| Q3 2019 | -2.4% | -1.9% | +31.7% | |
| Q2 2019 | +6.3% | +13.1% | +17.1% | |
| Q1 2019 | +13.7% | +22.7% | +8.5% | |
| Q4 2018 | +0.4% | +4.8% | -6.2% | |
| Q3 2018 | -15.4% | -14.8% | -21.0% | |
| Q2 2018 | -10.4% | -10.0% | -11.7% | |
| Q1 2018 | +10.0% | +7.5% | +7.5% | |
| Q4 2017 | +8.6% | +10.7% | +10.7% | |
| Q3 2017 | -5.0% | -2.3% | -8.5% | |
| Q2 2017 | +4.1% | -0.8% | -4.4% | |
| Q1 2017 | +1.4% | +2.8% | -16.3% | |
| Q4 2016 | +2.9% | +1.2% | -6.9% | |
| Q3 2016 | +11.9% | +9.9% | +18.9% | |
| Q2 2016 | +2.2% | +1.4% | -13.0% | |
| Q1 2016 | -1.8% | — | — | |
| Q4 2015 | -1.0% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | -2.7% | — | — | |
| Q1 2015 | +5.4% | — | — | |
| Q4 2014 | -3.5% | — | — | |
| Q3 2014 | -2.2% | — | — | |
| Q2 2014 | -2.2% | — | — | |
| Q1 2014 | +9.0% | — | — | |
| Q4 2013 | -3.0% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | -5.9% | — | — | |
| Q1 2013 | -4.6% | — | — | |
| Q2 2012 | +4.5% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q4 2011 | -1.3% | — | — | |
| Q1 2012 | -8.1% | — | — | |
| Q3 2011 | -8.1% | — | — | |
| Q3 2010 | -8.1% | — | — | |
| Q2 2011 | +1.8% | — | — | |
| Q4 2010 | -2.1% | — | — | |
| Q4 2008 | -2.1% | — | — | |
| Q4 2009 | -2.1% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q2 2010 | -3.6% | — | — | |
| Q1 2010 | -10.2% | — | — | |
| Q3 2009 | — | — | — |
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